As reported to SSESSMENTS.COM, a South Korean PET producer adjusted export offers following allocation arrangement. As of last week, export PET Bottle offers from their end have been adjusted higher by $15/ton compared to offers available in early May. The upward adjustment was supported by the satisfactory demand in the domestic market. As such, the producer reduced the allocation to the export market and intended to focus on selling in the local market.
In the export market, the producer stated to SSESSMENTS.COM that the demand is lukewarm. “We rejected low bids and managed to conclude some deals at $15/ton lower from the initial offer level at $725-735/ton on LC at sight, FOB Busan basis,” the producer added.
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NewsSSESSMENTS: South Korean PET Producer Made Hasty Adjustment As Crude Oil Prices Slump
