Global PET Prices Decline in August H1 as Oversupply and Demand Slump Persist

In the United States, prices for the PET a declining trend, with price during the August H* declined by *.** in the FAS Houston. This is mainly due to the weak demand from the downstream and the weak production costs. During the period market sentiments were largely negative due to the low consumer consumption despite the seasonal procurement expectations. Marketers were also struggling with the key macroeconomic issues including rising inflation and tariff relation uncertainty, restricting the procurement activity from the downstream bottle, beverages and packaging market. Local production costs for PET also moved downward as the key feedstock MEG prices declined by *.** during the period while another feedstock PTA prices remained steady.

In the European market, prices for the PET mirrored the US trend during August H*. PET prices declined by *.** in Germany and reached at...