Polyethylene terephthalate (PET) prices in the Asian region remained unchanged this week, reflecting the fragile balance between muted demand and sustained cost pressures faced by producers.
An industry source in Asia, speaking on condition of anonymity, noted that the broader energy complex has offered some support to market sentiment, with crude oil expected to stay range-bound to slightly positive. Heightened geopolitical tensions in the Middle East, the likelihood of tighter U.S. sanctions on Russian oil, and a smaller-than-expected OPEC+ output hike are providing a floor for oil prices. However, these supportive factors are countered by rising U.S. crude inventories, lackluster physical demand, and concerns over the Federal Reserve’s monetary policy, all of which continue to weigh on market confidence.
In the PET sector, prices across Asia have largely rolled over, underscoring the challenges of sluggish downstream demand. Converters remain cautious in their procurement strategies, constrained by subdued consumption trends in packaging and beverage applications. Manufacturers are equally under pressure, grappling with thin margins as elevated input costs coincide with weak end-user demand, limiting opportunities for price hikes. This delicate equilibrium has left the market in a holding pattern, with stability in prices signaling both disciplined supply management and the absence of strong demand-side drivers.
Regionally, FOB North East Asia PET bottle grade prices were assessed flat at USD 770–790/mt, while FOB South East Asia prices held steady at USD 850–880/mt. In South Asia, markets followed a similar trend, with Indian PET assessed at USD 830–850/mt CFR, Pakistani prices at USD 870–910/mt CFR, Sri Lankan prices at USD 850–900/mt CFR, and Bangladeshi PET at USD 840–870/mt CFR, all unchanged from the previous week.
In feedstock developments, China MEG prices remained stable at USD 520–525/mt, while CFR South East Asia MEG edged up slightly by USD 5/mt to USD 530–535/mt. PTA prices, however, softened across the board, with CFR Far East Asia assessed at USD 620–630/mt and CFR South East Asia at USD 640–650/mt, both down by USD 10/mt week on week.
Overall, the Asian PET market outlook remains muted, with stability in prices reflecting a cautious wait-and-see approach by buyers and sellers alike. Without stronger demand signals from downstream sectors, participants anticipate continued range-bound pricing in the near term.
