Expectations for the post-holiday period are centered on a mostly stable trend as sellers are expected to stand firm on their prices after an extended decreasing period while demand is expected to start to improve in line with the beginning of the high season in March. However, according to many players, the market direction will be mostly dependent on developments in upstream costs. In feedstock news, PTA prices climbed by around $15/ton on the week to $560/ton CFR China while spot MEG prices increased by $10/ton to be quoted at $610/ton with the same terms.
The weekly PET analysis will be suspended for the week of February 7-12 due to the Chinese New Year holidays.