Page 24 - Plastics News February 2025
P. 24

ENVIRONMENT NEWS




          China's PET Bottle Chip Prices Surge


          Amid Rising Costs and Cautious Demand




                 ET prices in New Delhi have surged to          trend, with average PET bottle chip prices hitting
                 `92/kg,  driven by  higher  raw  material      $882/ton between January 13-17.
          Pcosts due to U.S. sanctions on Russia and
          increased energy demand. Despite low produc-          Global factors have significantly influenced the
          tion costs, downstream buyers remain cautious,        PET market. U.S. sanctions on Russia have dis-
          limiting trading activity. The market is expected     rupted oil supplies, driving up raw material costs.
          to remain volatile, closely tracking international    Additionally, a cold wave in the U.S. has spiked
          oil price movements and supply conditions.            energy demand, further tightening PET’s prima-
                                                                ry input, PTA. Despite cost pressures, cautious
          Key Market Trends                                     buyer sentiment and the upcoming Spring Festi-
                                                                val have restrained market activity.
          ♦   Price Increase: PET prices in New Delhi rose
             by `2/kg since February 1.                         Industry Updates

          ♦   Cost Pressures: Sanctions and oil supply dis-     MOL Petrochemicals  increased  its butadiene
             ruptions have raised PET raw material costs.       unit’s operating rates after maintenance, while

          ♦   Supply Adjustments: New production ca-            SASA’s new PET line in Turkey (483,000 tons/
             pacities, including SASA’s PET line in Turkey      year) is set to commence operations by early
             and MOL Petrochemicals’ butadiene unit in          March. Meanwhile, Shanghai SECCO Petrochem-
             Hungary, are expected to impact market dy-         ical raised acrylonitrile prices in China, and Ku-
             namics.                                            wait’s Polypropylene plant is scheduled for a re-
                                                                start on February 20.
          ♦   Forecast:  PET prices in Asia are projected
             to fluctuate between $865-$905/ton, influ-         With oil prices remaining volatile, PET markets
             enced by oil price trends.                         are expected to follow raw material price trends,
                                                                keeping the industry on alert for demand fluc-
          PET Market Developments
                                                                tuations and supply adjustments.
          On February 6, PET prices in New Delhi reached                                              Source: Nexizo
          `92/kg, up from `90/kg on February 1. The Chi-
          nese market also experienced a strong upward
















             24   PLASTICS NEWS                                                                  February 2025
   19   20   21   22   23   24   25   26   27   28   29