The upswing in PET prices in Europe continued into August 2017. Indications that this would be the case with recyclate emerged towards the middle of the month. Widely differing hikes emerged in the primary market, however.
Costs had only risen in moderation, and it was instead the market situation resulting from tight supply and brisk demand from a hot holiday month that dictated the pace. Individual starting conditions and alternative options thus assumed greater importance – a state of affairs that generally leads to a greater spread between those involved.
The upward pressure was set to continue in September too, but with a tendency to abate somewhat. It is not possible to predict precisely what impact the hurricane on the US Gulf Coast will have on the cost of paraxylene and MEG. Increases here would doubtless drive up the price of polymers, given that the market is still on the tight side.