North American PET bottle resin prices jumped by an average of 2 cents per pound in August, getting back the 2-cent decline that the market had posted in July.
Market watchers cited tight supplies of purified terephthalic acid (PTA) and other raw materials. Prior to the July drop, regional PET prices had increased a total of 5 cents in the May-June period.
The potential restart of a PTA plant operated by Alpek SAB de CV in Altamira, Mexico, also could impact regional PET prices. The plant was damaged by a mid-July fire.
Alpek officials said at the time that the plant would restart within four to eight weeks, but market sources said that it's not fully operational yet. The fire was at one of the site's two PTA units, which has annual production capacity of more than 1 billion pounds.
In the engineering resins market, Plastics News this week is showing a 20-cent-per-pound increase in prices for nylon 6/6 resin. The change reflects increases over the past four months. Nylon 6/6 has been in short supply this year as a result of a lack of adiponitrile (ADN) feedstock.
Some producers have added ADN capacity to meet nylon 6/6 demand, but some buyers of the resin expect the market to be tight through the end of 2019.