PET prices in the early half of January **** remained stable in the US as steady supply and limited demand momentum. Sentiments turned bearish in the downstream market because of slow consumption in major downstream sectors which led to weak purchasing power and mild pricing demand. It was also noted that trade was flat with subdued demand and small margins preventing prices from moving significantly. Buyers continued to wait on the sidelines and hold inventories rather than support the market with fresh spot purchases. MEG prices rose by *.** in the feedstock complex as a whole, owing to tight supply and persistent geopolitical tensions. On the contrary, the price of PTA was stable and thus no significant cost-driven fluctuation appeared in the US PET market during the month.
In Europe, PET prices also followed a bearish trend, with prices on the German market falling by *.** in the first...
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