Polyethylene terephthalate prices eased across parts of Asia this week as cheaper feedstocks and hesitant buying set a subdued tone. Traders pointed to the same backdrop unsettling wider energy markets, oil climbing on geopolitical tension and the prospect of new U.S. sanctions on key producers, yet downstream PET markets moved the other way.
An industry source told that PET sellers were forced to trim offers as upstream costs fell and buyers stayed on the sidelines. FOB North East Asia bottle-grade prices slipped to the USD 760–780 per metric ton range, about ten dollars lower on the week. South East Asia posted a similar ten-dollar drop to USD 840–870.
China’s polyester yarn and fiber market remained quiet, with buyers replenishing only when absolutely necessary. Volatile prices for purified terephthalic acid and monoethylene glycol, key PET feedstocks, added to the caution, leaving trading volumes thin and sentiment fragile. Producers in both China and Southeast Asia cut offers to protect margins after monoethylene glycol softened further, itself a reflection of weaker crude and naphtha.
The cautious tone extended to South Asia. India’s PET prices held steady at USD 830–850 CFR, while Pakistan hovered at USD 870–910. Sri Lanka saw a sharper move, down twenty dollars to USD 830–880, and Bangladesh stayed flat at USD 840–870.
Feedstock markets reinforced the bearish pull. Chinese monoethylene glycol dropped to USD 505–510 CFR, off ten dollars, and purified terephthalic acid fell by about twenty-five dollars to USD 595–605 CFR Far East Asia and USD 615–625 CFR Southeast Asia.
Plant operations added a further layer of uncertainty. Lianyungang Petrochemical is expected to restart its monoethylene glycol unit in Xuwei by late September after a months-long outage, though confirmation is pending. Meanwhile, Hengli Petrochemical plans to shut its large PTA unit in Dalian for two weeks of maintenance starting October 11.
With upstream costs softening and buyers in no rush, the Asian PET market closes the week quieter and weaker, waiting for clearer signals before any meaningful shift in demand.
