Polyester chip trends inch up amid firm sentiments

24 Jun '14

1 min read

PET fibre chips prices went up in tandem with favorable trading sentiments coupled with firm raw materials prices in the Chinese domestic market today.

PET fibre chips market showed sign of improvement due to good support from the downstream buyers and positive market outlook. Mainstream prices were witnessed at RMB 9350-9400/ton, while deals were mainly concluded at RMB 9300/ton.

PET bottle chips market remained firm in Asia due to firm feedstock market and moderate support from the downstream buyers. Mainstream offers were around US$ 1320-1330/ton (FOB) N E Asia and traded prices were around US$ 1300-1310/ton, while PET bottle chips prices for FOB S E Asia were witnessed at US$ 1375/ton.

PET bottle chips prices remained stable in Europe market due to moderate support from the downstream buyers. In the spot market, prices were witnessed stable at US$ 1110/ton F D N W Europe, while in contract market, prices were quoted up at € 1195/Ton F D N W Europe.

Looking at the current market fundamentals, it is believed that PET chips prices may remain range bound due to firm raw materials cost and moderate support from the downstream buyers in the short-run.

Fibre2fashion News Desk - India

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