Copyright 2010 Reed Business Information Limited. ICIS Pricing is a member of the Reed Elsevier plc group.

10th January 2014

Polyethylene Terephthalate
(Asia Pacific)
Editor Yu Guo, guo.yu@icis.com
SPOT PRICES
Price Range

Four weeks ago

US CTS/LB

USD/TONNE
USD/TONNE
USD/TONNE

+5
n/c
+5

1285-1340
1330-1340
1275-1330

n/c
n/c
n/c

1280-1320
1330-1340
1270-1310

58.29-60.78
60.33-60.78
57.83-60.33

USD/TONNE
USD/TONNE
USD/TONNE
USD/TONNE
USD/TONNE

-10
n/c
-10
-20
n/c

1330-1350
1350-1380
1300-1330
1370-1425
1370-1390

n/c
n/c
-10
n/c
+10

1340-1350
1370-1380
1325-1340
1390-1420
1350-1360

60.33-61.23
61.23-62.60
58.97-60.33
62.14-64.64
62.14-63.05

USD/TONNE

n/c

1300-1360

-10

1300-1370

58.97-61.69

le

Click for Price History

FIBRE GRADE
CFR N.E.ASIA
CFR INDIA
FOB N.E.ASIA
BOTTLE GRADE
FOB KOREA
FOB TAIWAN
FOB CHINA
FOB S.E.ASIA
FOB INDIA
FILM GRADE
FOB EAST ASIA

mp

NOTE: for full details on the criteria ICIS pricing uses in making these price assessments visit www.icispricing.com and
click on methodology.
Declines in the feedstock market weighed on Asia PET
prices

The spot prices of polyethylene terephthalate (PET) chips were

assessed as largely softer for the week ended 10 January on
the back of falling feedstock prices.
Feedstock purified terephthalic acid (PTA) and monoethylene
glycol (MEG) prices suffered from a bearish market outlook
and an oversupply capacity while demand remained weak.

Sa

The prices of feedstock PTA had fell by $26/tonne week-onweek to $969-971/tonne CFR China on 10 January, while
feedstock MEG were assessed at $986-990/tonne CFR China,
down by $37-40/tonne in the same period.
Furthermore, several producers said demand had failed to pick
up in the week, as the buyers are only gradually starting to
return to the market after their New Year holidays.
A producer said its offers were increased in the week because
of squeezed margins and it is willing to deal at lower prices,
but it had only attracted minimal buying interests.

Spot prices for PET fibre-grade chips were assessed as

stable-to-firm, reflecting deals concluded in the week.
Most market players said the market had remained stable amid
a slow trading week after the New Year holiday.
A deal was heard concluded at $1,275/tonne FOB NE Asia,
reflecting the low end of the assessed range.
A producer said that following its deal at $1,330/tonne FOB NE
Asia in the previous week, the market remained quiet with
limited buying enquiries.
On the CFR NE Asia front, the low end was adjusted notionally
upwards along with its FOB prices.
In India, prices remained stable at the assessed range as
prices typically settle once in the month.
Bottle-grade
Korean producers said that market had been slow with few
buying enquiries as buyers are still away after the New Year
Holiday.

Ahead of the Lunar New Year holiday, some market players

anticipate a drop in PET prices as traders try to lessen their
inventory burden.

Few deals were heard concluded at $1,340-1,350/tonne FOB

Korea in the week.

However, other market players said that some buyers will not
want to stock up its inventory prior to the holiday.

Bids at $1,330/tonne FOB Korea start to emerge in the week,

following the weakening of the upstream market, and some
producers are willing to meet the bids but no deals were heard.

Looking forward, several market participants are optimistic of

market recovery after the Lunar New Year holiday because of
an increase in demand in preparation of the summer season.

According to Taiwanese producer, prices remained stable in

the week with deals concluded within the assessed range.

Some market participants are skeptical of positive recovery if

several plants were anticipated to restart after the holiday and
hence adding pressure on supply-demand balance in an
overcapacity PET market.
Fibre-grade

The bulk of the deals were concluded at around $1,370/tonne

FOB Taiwan, said producers.
In China, the bulk of the deals were heard done at the
published range, down by $10/tonne following the declines
seen in the feedstock market.

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Polyethylene Terephthalate (Asia Pacific)

Page 2 of 2
Most southeast Asian producers said prices remained stable
as demand stayed strong during summer.

Following several weeks of subdued trading activities during

the New Year holiday, an east Asian producer concluded a
deal at 1,360/tonne FOB East Asia in the week.

The low end of the assessed range reflects deals heard in the
week in southeast Asia, but the producers said the market is
considered to be stable.

Demand had been persistently weak since the last quarter in

2013 and no signs of positive recovery is seen in the near
term, said several producers.

In India, offers were at $1,390/tonne FOB India with some

deals heard concluded at this level in the week as demand
starts to pick up after the holiday, said an Indian producer.
Film-grade

Covering editor: Xia Xue

The ICIS Latin American Polymers Conference

3-4 April 2014, Sao Paulo, Brazil. To find out more, visit
www.icisconference.com/LATAMPolymers
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code JZZ30099

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Spot prices for PET film-grade chips were assessed as stableto-soft for the week ended 10 January, reflecting deals done.

FEEDSTOCK PRICES
Click for Price History
PTA
MEG

CFR CHINA MAIN PORT (SP)

LIST PRICE: CFR ASIA JAN

USD/TONNE
USD/TONNE

-16
n/c

Price Range
979-983
1200.00-1210.00

mp

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Reed Business Information Limited. ICIS
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+10.00