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

Materials firm realigns business divisions

October 20, 2014 1:23 pm ET

Trinseo S.A., formerly known as Styron L.L.C., is realigning its business divisions, creating two new business groups — Performance Materials...    More

Molder goes to auction block

October 17, 2014 12:17 pm ET

An Illinois custom injection molding operation will be auctioned off after its owner decided to close the business.    More

Image

Plastikon expanding in Kentucky

October 17, 2014 11:24 am ET

Automotive supplier Plastikon Industries Inc. plans to more than double the size of its production facility in Leitchfield, Ky.    More

Image

Corbion Purac collaboration taking bioplastics into even more uses

October 17, 2014 6:00 am ET

Corbion Purac NV's collaboration with Taiwan-headquartered compounder Supla Co. Ltd. and Taiwan electronics producer Kuender & Co. is paying...    More

Image

Momentive gearing up for some timely LSR sales

October 17, 2014 10:58 am ET

Momentive Performance Materials Inc. has plenty of time for customers at Fakuma — thanks to colorful new watchbands made with the firm's fiber-r...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

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

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events