Local PET price trend prolonged, a Malaysian converter expects another round of adjustment on import prices, SSESSMENTS.COM was told. Based on the converter’s information, offers for PET Bottle in the local market captured stable to a slight decreased by MYR50/ton ($12/ton). While for import PET Bottle offers of China origin reported stable, at $840/ton on LC at sight, CIF Malaysia main port basis. All price changes on a weekly basis.
Currently, the converter is disincentivized from purchases, prefers to wait until the end of the month. The converter opined to SSESSMENTS.COM that done deal levels for local and import cargoes could be concluded at MYR3,500/ton-level ($841/ton) and $830/ton-level, respectively. Particularly for imported PET Bottle of China origin, the converter expects prices to break $800/ton-level by the end of November. The converter opined that it is possible to see such a level in the near term, as the local prices in the country are still on a downtrend this week.
