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PET chips prices decline in Northeast Asia last fortnight
21
Oct '13
In Northeast Asia, prices of polyester chips (PET chips) fell by the end of last fortnight ending October 15, 2013, and prices are likely to remain range bound in the ongoing fortnight, according to market analysts.
 
By the end of last fortnight, PET chips prices was US$ 1225/ton, down 6.49 percent compared to price of US$ 1310/ton observed during the same period last year.
 
During the fortnight ending September 30, PET chips price was US$ 1245/ton.
 
In the Northeast Asian market, the prices of semi dull (SD) PET chips settled at US$ 1225/ton in the last fortnight ending October 15, down 0.18 percent compared to previous fortnight due to unfavorable market fundamentals. Prices of PET bottle-grade chips were assessed at US$ 1375/ton, lower by 0.72 percent as compared to the previous fortnight.
 
In the Chinese domestic market, average prices of semi dull chips were around RMB 9,350/ton and super bright chips were around RMB 9,545/ton, during the first half of the current month.
 
In Europe, contract prices of PET bottle grade chips were witnessed at €1335/ton FD NWE mark during the fortnight ending October 15, while spot prices were assessed at €1190/ton FD NWE mark in the second half of last month.
 
During the current fortnight, market analysts expect polyester chips market to fluctuate narrowly and remain range bound due to subdued demand from the downstream market and weak feedstock market.
 

Fibre2fashion News Desk - India

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