The bright sunny weather in continental Europe, with some very high temperatures in the south, naturally drove up demand for PET bottle material in June 2017. Asian suppliers cut back their exports to Europe at the same time, which meant that the suppliers based here succeeded in keeping most of their cost savings (paraxylene down €45/$52/t, monoethylene glycol down €10/$11/t) for themselves.
Slight reductions were only evident in isolated cases where prices were high, and this scarcely had any impact. Towards the middle of the month, recyclate prices tended to firm. All in all, however, momentum within the chain as a whole tailed off towards the end of the month.
If the good weather continued, prices in July will most likely have remained firm or increased somewhat. This is not guaranteed, however, since the impact of intermediate product costs and import activities from Asia still remained to be seen. Depending on how these influencing factors developed, prices could have risen or even fallen slightly.