In November, the price of PET and PP was mixed
In November, the price of PET and PP was mixed
This month, the price of PET and PP in North America was mixed, influenced by the different costs of upstream raw materials. The PET market has picked up recently, with a slight gain of 4 cents per pound. The PP continued its decline in October, and its market price in November was a penny/pound lower than before. After rising prices in August and September, the price of the PET market in North America has been falling since October. After November, the PET market in the area started to pick up again. Market participants pointed out that the increase in PET prices in North America was mainly influenced by the price fluctuation of the upstream PX and PTA prices. Some local buyers believe that PET prices in North America will hit bottom in the coming days as demand falls off. For now, the market demand of beverage bottling bottles remains a key factor in determining the trend of PET prices. In PP, the resin has been steadily falling since October. The 1 cent per pound decline appears to be minimal, compared with a net drop of 7 cents per pound in North America compared to the same period last year. According to local traders, the price of PP in North America continued to fall in November because of lower contract prices for the polymer grade propylene and the weak demand for downstream products. Market participants are expected to drop two to four cents a pound before the full spot price of the PP is formally formed.
