In the early week of May xxxx, Polyethylene terephthalate (PET) prices exhibited a similar trend across various regions, including the US, Germany, and the Asian Pacific nations.
In the US, PET prices remained stable at USD xxxx/MT during this period. This stability can be attributed to the low cost of feedstock, despite the volatile nature of crude oil prices. Although PET feedstock PTA remained steady, MEG prices in the US market experienced a x.xx decline. According to the EIA report, West Texas Intermediate crude oil prices were reported at USD xx.xx per barrel on May xrd, xxxx, showing a weekly decrease of USD x.xx/bbl but a yearly increase of USD x.xx/bbl. The recent uptick in US crude inventory ultimately influenced PET prices.
Similarly, PET prices in Germany remained stable, largely due to reduced demand from the downstream bottle and packaging industry and continued low-cost support from...
