PET

European PET producers’ hopes for price stabilisation evaporated rapidly at the start of February. After a long delay, the December reference for paraxylene was a pronounced triple-digit drop, which immediately prompted corresponding demands for reductions on the part of customers. At the same time, aggressive import offerings forced their way on to the market. This flash in the pan was short-lived, however, and reductions were...

The uncertainty on the European PET market continued on into the first month of 2023. While the reference for the key feedstock paraxylene was finally fixed for December (up €195/$210/t), the contract for January was still up in the air. This caused considerable turmoil for indexed contracts. Major customers from the film industry in particular are experiencing an upswing in demand, which has to be...