The PET price bubble that has grown sharply this year leaked in November 2018. In the trading sector, high volumes from Asia flowed onto the market again at bargain prices. Costs eased, and the off-season slump had a negative impact. Prices in the PIE range for small to medium contract volumes in northwestern Europe thus underwent a considerable decline. As is often the case, the global downturn originated in Asia where prices again fell by the equivalent of €100/t ($113).
The situation is already moving toward oversupply – which will doubtless have been attained in December. At the same time, oil prices have fallen significantly, contract prices in the Asian polyester chain are continuing to drop and the usual end-of-the-year slump in demand is just around the corner. Further clear price falls are likely to have been the result.