Click the icon to add a specified price to your Dashboard list. This makes it easy to keep track on the prices that matter most to you.
This week, PET prices experienced sharp gains in the Asian region.
An industry source in Asia informed a Polymerupdate team member, “The rise in PET prices within the region was influenced by a variety of interrelated factors. Firstly, increased upstream energy prices led to elevated production costs throughout the supply chain. Furthermore, the prices of essential feedstocks such as MEG, PTA, and PX experienced significant increases. Given that these feedstocks are critical raw materials for PET production, their heightened costs directly affected the overall manufacturing expenses. As the prices of MEG, PTA, and PX rose, producers encountered increased input costs, which they subsequently passed on to the market.”
In order to maintain their profit margins and avert financial losses, producers are necessitated to pass these elevated costs onto end consumers by increasing the selling prices of PET. This price modification is crucial for safeguarding profit margins in light of the rising raw material costs.
The downstream polyester yarn and fiber market has also continued to rise, propelled by the increasing costs of upstream feedstocks. Nevertheless, there has been minimal discourse or activity in the regional market concerning these changes.
The source added, “Meanwhile, the temporary 90-day suspension of tariffs, agreed upon by the United States and China, has sparked renewed optimism that the prolonged trade dispute between the world’s two largest economies might soon be resolved. This development has significantly reduced investor concerns about the potential for a global economic slowdown and has also led to increased expectations for a rise in global oil demand.”
FOB North East Asia PET bottle grade prices were assessed at the USD 790-820/mt levels, a surge of USD (+70/mt) from the previous week.
An industry source based in China informed a Polymerupdate team member, “The previous day's offer for PET bottle-grade, from a Chinese producer, was pegged at the USD 790–795/mt on FOB basis. Following discussions early morning, the producer officially increased its offer to around USD 820-825/mt on FOB basis. This marks an increase of approximately USD 30/mt from the previously stated range. Despite this upward adjustment, there have been no signs or reports of negotiations or discussions taking place at the new offer price level.”
Polyethylene Terephthalate bottle grade is experiencing a favourable trend within the polyester industry, propelled by favourable macroeconomic policies and seasonal demand. The increase in upstream raw material costs, heightened operating rates, and a rise in both domestic and international orders suggest that China's PET sector is exhibiting resilience and stability in its supply chain.
The People's Bank of China implemented interest rate and reserve requirement reductions in early May that surpassed market expectations, thereby providing robust support to the real economy and capital markets. Concurrently, a positive advancement in China-U.S. trade relations has further revitalized export-oriented industries.
FOB South East Asia bottle grade PET prices were assessed at the USD 850-880/mt levels, a steep rise of USD (+40/+60/mt) week on week.
In South East Asia, Vietnamese producers have offered their PET bottle grade at the USD 850/mt FOB basis, while another producer from Thailand is heard to have offered its PET bottle grade at the USD 880/mt FOB basis.
In South East Asia, the Ministry of Investment, Trade and Industry (MITI) of Malaysia formally declared the implementation of definitive anti-dumping duties on polyethylene terephthalate (PET) resin imports from China and Indonesia on May 7, 2025. The announcement stated that the anti-dumping investigation, which commenced on August 9, 2024, found that certain PET products were being imported into the Malaysian market at prices lower than those in their respective domestic markets, causing significant harm to Malaysia's local PET industry. Based on the conclusive findings, duty rates varying from 2.29% to 11.74% have been implemented on imports from China while a fixed duty rate of 37.44% has been implemented on imports from Malaysia. These duties will be enforced by the Royal Malaysian Customs Department for a duration of five years, from May 7, 2025, to May 6, 2030.
In India, PET prices were assessed at the USD 790-800/mt CFR levels, higher by USD (+30/mt) from last week.
In India, the latest offer for PET bottle grade was heard from a Chinese producer at the USD 830-840/mt CFR levels, for shipment in end May/early June 2025. However, no deals were reportedly concluded at the stated price level.
Meanwhile, a producer from Vietnam has offered its PET bottle grade at the USD 910/mt CFR levels, for shipment in end May/early June 2025.
In Pakistan, PET prices were assessed at the USD 880-920/mt CFR levels, a week on week increase of USD (+30/mt).
In Pakistan, overseas producers have offer their PET bottle grade in the range of USD 880-920/mt levels, for shipment in end May/early June 2025.
In Sri Lanka, PET prices were at the USD 850-900/mt CFR levels, up USD (+30/mt) from the previous week.
In Sri Lanka, overseas producers have offered their PET bottle grade in the range of USD 840-870/mt levels, for shipment in end May/early June 2025.
In Bangladesh, PET prices were assessed at the USD 840-870/mt CFR levels, a sharp gain of USD (+40/mt) week on week.
In Bangladesh, overseas producers have offer their PET bottle grade in the range of USD 840-870/mt levels, for shipment in end May/ early June 2025.
In feedstock news, China MEG prices were assessed at the USD 515-520/mt levels while CFR South East Asia MEG prices were assessed at the USD 520-525/mt levels, both steeply higher by USD (+30/mt) from last week.
Meanwhile, CFR PTA prices on Tuesday were assessed at the USD 640-650mt CFR FEA levels, a week on week surge of USD (+65/mt). CFR SEA PTA prices were assessed at the USD 665-675/mt CFR SEA levels, a spike of USD (+60/mt) from the previous week.
In plant news, Shenghong Petrochemical has shut its Purified terephthalic acid (PTA) unit on May 7, 2025. The unit is slated to remain offline for around 10-15 days. Located in Lianyungang, China, the PTA unit has a production capacity of 2.5 million mt/year.
In other plant news, Oriental Petrochemical (Taiwan) Co (OPTC) is likely to shut its Purified terephthalic acid (PTA) unit in June 2025 for a maintenance turnaround. The exact date and duration of the shutdown could not be ascertained. Located in Kwan Yin, Taiwan, the PTA unit has a production capacity of 1.5 million mt/year.
