Early March 2025 displayed a varied price trend for the Polyethylene Terephthalate (PET) across the global market. The feedstock market and the downstream demand sentiments mainly drove the overall market conditions during the period.

In the European market, PET prices showcased a steady price trend during the early week of the month. Market demand remained subdued with no significant inquiry from the downstream market recorded. However, supply for the PET remained slight constraints, this period. Limited feedstock availability in the market compelled the manufacturers to alter the operation. Prices for the key feedstock MEG inched up by 4.1% while the prices for another feedstock PTA declined by 0.61%. Although the tight supply for the PTA eased during the period coupled with the resumption of operation and postponement of the maintenance turnaround. Overall demand remained weak amidst the restrained procurement and the minimal seasonal activity.

In the US market, PET prices remained unchanged price trend during early March 2025. Demand level for the PET from its downstream market heard lower in the week ended March 7, despite stable feedstock costs. Market participants highlighted that the intense competition between the recycled and virgin PET further influenced the demand. On the production side, prices for the key feedstock, MEG and PTA remained stable, enabling downstream manufacturers and suppliers to maintain the prices stable without any fluctuations.

In the MEA region, PET prices displayed a weak prices trend with prices falling by 1.4% this week particularly in the Saudi Arabian market. Rising inventory levels and cheap Asian import coupled with the declining freight charges mainly drove the PET market conditions. However, demand shows gradual improvement, driven by seasonal factor such as Ramadan and rising temperature, which spurred consumption from the downstream beverages and the water bottle industries. 

In the Asian Pacific market, prices for the PET remained steady with the marginal changes in the prices. Particularly in China, PET prices declined slightly by 0.62% during the early week of March 2025. PET price stability was mainly shaped by the stable feedstock MEG and PTA prices in the domestic market. The domestic market maintained ample supply levels, coupled with the sufficient inventory levels and the improved operation efficiency.

On the demand side, domestic downstream markets such as beverages, PET sheets and edible oil demonstrated a gradual recovery coupled with rising operation rates and improved procurement activity. This slight rise in the procurement further helped to ease inventory pressure, post-holiday. However, the overseas export market remained uncertain during the period as some buyers restricted orders to large volume due to the weak feedstock market and the significant weakness in the PET sector.