PET was currently readily available, according to converters. Even in July, when demand was rather brisk due to the heat, there were no reports of supply bottlenecks. The industry described the market as balanced. Suppliers said order levels for PET were positive throughout the summer, but now demand was beginning to slacken. Since prices have declined for the upstream products PTA and MEG, the quotes for PET also dropped in July and August. Market experts believed the prices of upstream products would head north in September. Therefore PET suppliers were aiming to implement price hikes as well.
