Asian PET producers attempt to tap into stronger European market, try to sell more directly

In a bid to increase sales in the relatively stronger markets of Europe, polyethylene terephthalate producers in USA are increasingly making contact directly with European PET consumers, cutting out the middleman, as per Platts. This would result in better prices for the buyers, eliminating traders cut. Changes in the polyester and cotton outlook in Asia are expected to have an impact on European PET prices. Asia has been witnessing weaker PET prices: Prices have fallen from US$1880/MT FOB Northeast Asia at the end of March to US$1795/MT last week. In Southeast Asia prices dipped from US$1905/MT FOB SE Asia to US$1820/MT over the same time period. While, last week's European spot price was at US$2264/MT FD NWE and US$2270/MT FD UK. Asian buyers who can o can sell to the EU can offer at $1,850/MT FOB Asia, while those who cannot are offering around US$1770-1790/MT FOB Asia.
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