Global Polyethylene Terephthalate (PET) market has been facing challenges since the start of January xxxx due to the high production cost and logistic barrier amid heightened demand. Overall markets around the globe including Europe and USA struggle with the recent price upswing.
The US PET market has been experiencing a continuous rise in prices since the start of the xxxx. PET (bottle grade) prices, which were assessed at USD xxxx/MT DDP Los Angeles during the first week of January xxxx, later reached USD xxxx/MT by third week of the month.
This rise in the PET resin price is primarily attributed to the ongoing conflict in the red sea trade route, which has resulted in low supply of commodities including raw materials and high production cost amid moderate demand in the downstream bottle and the packaging industries. Further, conflict is still continued to the...
