Chemicals Updates

Asian PET: Prices ease as buying momentum slows / Softer upstream costs weigh on market / China polyester producers eye more rate cuts amid high inventories

May 20, 2026

Asian bottle-grade polyethylene terephthalate prices softened in the week to May 13 as buying interest slowed amid weaker sentiment. PET FOB China at $1,215/mt on May 13, down $35/mt week over week, while PET FOB Southeast Asia declined $25/mt to $1,305/mt over the same period. The ICE July Brent futures contract fell $0.09/b day over day to $106.89/b at 4:30 pm Singapore time (0830 GMT) on May 13, as investors looked ahead to the upcoming Trump-Xi meeting in South Korea. Trading momentum across Asia weakened during the week despite the ongoing peak summer demand season, as market participants anticipated further downside in bottle-grade PET prices following softer upstream crude and feedstock costs. "Besides, buyers booked materials in March and April, even at higher prices, fearing supply disruptions," an Indian trader...

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