PET October 2019 Price Review

The European PET market remained depressed in September. A brief period of disruption following the drone attack in Saudi Arabia did not have any impact on the continuing restrained demand. Warehouses are full across the entire value chain, since outflow has remained very limited for some time now. 

Paraxylene also slumped in August. The smaller regular transactions reported by PIE did not decline to the same extent as spot prices or the very large volumes, most of which are currently hovering around the €900/t ($979) mark. The depressive mood in the market does not seem set to undergo substantial change. 

Following the renewed drop in the paraxylene reference contract, further reductions are on the cards for PET contract prices too.