Polyethylene terephthalate (PET) prices across Asia remained largely unchanged this week, as the market continued to balance global energy volatility with seasonal slowdowns in downstream demand. A source in Asia noted that the Russia–Ukraine conflict and persistent U.S. sanctions on key oil-producing nations have heightened uncertainty in global supply chains, fueling a rise in international crude oil prices. This broader instability has filtered into the regional petrochemicals landscape, adding layers of unpredictability for both producers and buyers.
Despite such pressures, PET bottle-grade values held firm, though sentiment remained cautious. FOB North East Asia PET prices were assessed at USD 770–790/mt, unchanged week on week. Export demand was described as weak, with buyers showing little appetite for replenishment amid concerns over elevated price levels and a seasonal lull in offtake. Producers, wary of overcommitting in an uncertain environment, have likewise held back from pushing fresh orders into the market.
In China, margin challenges remain a critical issue for bottle-grade PET manufacturers, who continue to report operational losses. Traders highlight that sustaining production in such conditions is testing the resilience of domestic suppliers, raising questions about long-term cost management and potential impacts on supply stability. At the same time, some replenishment was observed in polyester yarn and fiber sectors, tied to routine month-end restocking, while improved activity in downstream dyeing facilities suggested pockets of resilience in textile-linked demand.
Elsewhere in Asia, prices reflected regional hesitancy. FOB South East Asia assessments held steady at USD 850–880/mt, with market participants adopting a wait-and-see approach in hopes of lower price levels. In India, PET prices were steady at USD 830–850/mt CFR, though Reliance Industries Limited raised domestic PET grade prices by Rs.4/kg basic, effective September 1, 2025. In Pakistan, PET values were stable at USD 870–910/mt CFR, while in Sri Lanka and Bangladesh, assessments were also rolled over at USD 850–900/mt CFR and USD 840–870/mt CFR respectively.
Feedstock markets painted a softer picture. China MEG prices declined by USD 10/mt to USD 520–525/mt, while CFR South East Asia MEG values fell by USD 15/mt to USD 525–530/mt. PTA markets also weakened, with CFR Far East Asia values slipping to USD 630–640/mt and CFR South East Asia prices easing to USD 650–660/mt, both lower by USD 10/mt from the prior week.
On the supply side, plant news provided additional context. Zhejiang Wankai New Materials restarted its 600,000 mt/year PET unit in Chongqing around September 1, 2025, following a maintenance turnaround that began in early July. Conversely, Hengli Petrochemical shut down its two PTA units in Huizhou on August 21 due to technical issues, with a combined capacity of 5 million mt/year. The duration of this outage remains unclear, adding another layer of uncertainty to regional supply dynamics.
Taken together, the stability in PET pricing belies underlying fragility. While muted seasonal demand has softened immediate pressures, ongoing feedstock volatility, unresolved geopolitical tensions, and persistent margin challenges in China continue to cast a shadow over the regional outlook. Market participants remain cautious, with many eyeing September for clearer signals on whether supply adjustments or demand recovery might shift pricing momentum.
