NWE PET contracts for June settle with three digit decrease

24-Jun-11
Freely negotiated polyethylene terephthalate (PET) contract prices for June are seeing three digit decreases compared with May, as per Platts. One converter reported settling his June PET contracts at a net price of €1,330/mt, down €100/mt from May. Lower prices are seen in the spot market, with European producers operating at good rates this month on improved avails of feedstock purified terephthalic acid in May, there were no problems securing the volumes needed. Another buyer prefers to defer buying as they expect to get lower prices if he held out.
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