This week, Polyethylene Terephthalate (PET) prices across Asia largely held steady, with no significant movement reported in key regional benchmarks. FOB North East Asia bottle-grade PET was assessed at USD 780–800/mt, remaining unchanged compared to the prior week. A cautious Asia-wide sentiment was underpinned by lingering demand weakness and softer crude and feedstock markets.
An anonymous market insider noted that global attention on the upcoming US-Russia summit is adding a layer of combined geopolitical and economic uncertainty. “A positive outcome, such as sanctions relief or conflict de-escalation, could improve global oil supply, lower risk premiums, and buoy market confidence, potentially pushing prices downward,” the source explained. Even so, ongoing soft demand and modest upstream trends discouraged buyers from pushing prices upward. Several suppliers lowered their offerings in response to declining paraxylene (PX) costs, but absent a notable rebound in downstream consumption or feedstock costs, prices are expected to remain rangebound in the near term.
In Southeast Asia, FOB PET bottle-grade prices remained flat at USD 860–890/mt. India sustained stability too, with CFR PET levels assessed at USD 850–870/mt. Pakistan held at USD 880–920/mt CFR, while Sri Lanka and Bangladesh saw little change, with PET trading at CFR levels of USD 860–920/mt and USD 850–880/mt respectively.
Market participants emphasized that many transactions are closing at prices below official assessments, driven largely by immediate procurement needs rather than forward-looking stocking strategies. This underscores a tepid, highly competitive environment, further exacerbated by subdued demand across packaging and textile sectors.
Upstream feedstock developments offered some nuances: MEG for CFR South East Asia climbed by USD 10 to USD 540–545/mt, while China MEG rose similarly to USD 530–535/mt. PTA prices, however, held firm: CFR FEA at USD 620–630/mt and CFR SEA at USD 640–650/mt, both unchanged from last week.
On the plant front, Nan Ya Plastics is expected to take its No. 1 MEG unit in Mailiao, Taiwan, offline for maintenance in October 2025; although official scheduling details remain scarce. This unit has a capacity of 460,000 mt/year. Meanwhile, in China, Weilian Chemical recently resumed operations of its PTA plant in Dongying on August 11, 2025, following a shutdown in late June. That plant brings 2.5 million mt/year back online.
