Polyester chip or PET chip prices in Asia jumped in the week ended 14 December 2018 supported by rising PTA cost while MEG markets fell in the week. Asian marker, FOB Taiwan/Korea for semi-dull continuous spinning fibre grade chip was up US$74 a ton.

In China, semi dull chip offers rose US$18 a ton this week amid active buying sentiment from the downstream markets. Offers for super bright chip was up US$24 a ton on the week while CDP chip offers rose US$10 a ton on the week.

Market transactions were brisk coupled with firmer feedstock prices which led to hike in prices by chip producers.

Overall, PET chip offers are likely to range-bound in coming weeks but soft demand may be witnessed this year-end.

Courtesy: Weekly PriceWatch Report