PET prices climb 2 cents

By Frank Esposito
Senior Staff Reporter

Published: July 17, 2014 2:22 pm ET
Updated: July 17, 2014 2:25 pm ET

Related to this story

Topics Materials, Materials Suppliers, Resin Pricing, United States, Mexico, Canada

After holding their ground in May, North American PET prices rebounded to show an average increase of 2 cents per pound in June.

The hike came after four straight price declines from January-April had sent prices down a total of 5 cents. Prices now remain down a net of 3 cents for the year. Those declines were tied to lower beverage demand — especially for carbonated soft drinks — and global oversupply of raw materials needed to make PET.

A PET market watcher told Plastics News that PET raw materials and feedstocks didn’t support the 2-cent move through June, but when markets for those materials tightened in early July, the pressure was enough to send the whole 2-cent move through to the wider market.

Now with 7 cents of price volatility through six months, the North American PET sector is on track to slightly surpass its 2013 total of 12 cents of volatility. That total was the lowest posted by the market since 2007. In the 2008-12 period, PET price volatility in the region had averaged almost 35 cents per year.

PET makers already had ramped up production in May in anticipation of warmer weather increasing demand for carbonated soft drinks and bottled water — two major demand areas for PET bottle resin. Production had increased a half billion pounds per month vs. levels seen earlier in the year.


Comments

PET prices climb 2 cents

By Frank Esposito
Senior Staff Reporter

Published: July 17, 2014 2:22 pm ET
Updated: July 17, 2014 2:25 pm ET

Post Your Comments


Back to story


More stories

Image

US plastics machinery market still gaining strength in second quarter

September 15, 2014 5:01 pm ET

U.S. plastics machinery shipments in the second quarter continued to outperform activity in 2013, according to data from Society of the Plastics...    More

Image

Toy supplier sues maker in reshoring fight

September 15, 2014 3:18 pm ET

An Arkansas toy supplier is suing a Taiwan-based manufacturer for breach of contract and other civil allegations in a legal dispute that not only...    More

Image

Primex finds success among diverse product offerings

September 15, 2014 3:09 pm ET

What was once a run-down stretch of road in Richmond, Ind., has given way to building after building of extrusion machinery at Primex Plastics Corp....    More

Image

Primex names new tech center after John Farber, a steady supporter

September 15, 2014 3:00 pm ET

RICHMOND, IND. — John J. Farber was there when Primex Plastics Corp. was founded in 1965. And he has been a steady source of...    More

Image

Vanee Foods adding hot-fill line

September 15, 2014 1:55 pm ET

Vanee Foods Co. expects to have a new hot-fill bottling line operational at its Broadview, Ill., facility by the end of this month.    More

Market Reports

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events