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US Feb PET 'raws" averaged 45.65 cpp, down fractionally
HOUSTON, March 1, 2016 (PCW) -- The average cost of PET feedstocks in Feb used by US PET producers to calculate monthly contract pricing was 45.65 cpp, down 0.22 cpp from Jan, a market source said Tuesday.
The Feb price of paraxylene (PX) was down slightly at 36.75 cpp and up slightly for MEG, at 34.88 cpp, and PTA at 38.89 cpp.
A force majeure declared Feb 16 at Indorama Ventures' Texas MEG plant had little to do with the higher MEG price, markets sources said.
Monthly raws averages typically factor prominently in the calculation of invoicing by PET producers for deliveries that month. -- Xavier A. Cronin