For the Quarter Ending December 2025
North America
• In USA, the Polyethylene Terephthalate Price Index rose by 4.63% quarter-over-quarter, reflecting stronger downstream ordering and inventory tightening.
• The average Polyethylene Terephthalate price for the quarter was approximately USD 1076.67/MT, as reported by market sources.
• Polyethylene Terephthalate spot prices firmed, supported by constrained prompt availability, lifting the Price Index despite adequate feedstock supply.
• Demand outlook improved, with selective restocking from beverage and packaging sectors ahead of seasonal consumption peaks.
• Tightened inventories and customs-related frictions supported the Price Index, limiting arbitrage opportunities and strengthening domestic spreads.
• Port logistics variability and warehouse congestion intermittently constrained availability, reinforcing spot price firmness even as production remained steady.
• The near-term PET price forecast points to controlled volatility, driven by seasonal buying interest and tariff-influenced import flows.
Why did the price of Polyethylene Terephthalate change in December 2025 in North America?
• Limited prompt inventories and stronger beverage sector orders tightened supply, elevating prompt values in the quarter.
• Stable MEG and PTA costs limited upstream cost support, while longer customs processes increased effective landed costs.
• Tariff measures and import routing friction reduced cheap cargo availability, narrowing arbitrage and supporting domestic pricing.
APAC
• In Japan, the Polyethylene Terephthalate Price Index fell by 2.21% quarter-over-quarter, citing muted downstream demand.
• The average Polyethylene Terephthalate price for the quarter was approximately USD 797.33/MT, reflecting subdued buying.
• Polyethylene Terephthalate spot prices stayed range-bound with a softer undertone, as balanced supply and easing feedstock limited sellers’ upside.
• The PET price forecast remains cautious, with only limited near-term support from seasonal restocking and brief logistics tightness.
• Production cost pressures stayed muted, as MEG prices softened and PTA remained relatively steady, weakening cost-push support.
• Demand outlook remained subdued, with beverage and packaging sectors maintaining conservative procurement behaviour.
• Inventory accumulation and export headwinds weighed on the PET Price Index, constraining spot liquidity and keeping offers under pressure.
• Steady operating rates ensured steady supply, while intermittent port congestion was insufficient to offset the broader bearish market tone.
Why did the price of Polyethylene Terephthalate change in December 2025 in APAC?
• Balanced supply and inventories limited upward pressure while downstream buyers remained conservative during year-end holidays.
• Soft production prices suppressed cost pass-through, reducing impetus for Polyethylene Terephthalate price increases.
Europe
• In Germany, the Polyethylene Terephthalate Price Index fell by 9.65% quarter-over-quarter, reflecting subdued demand and ample supply.
• The average Polyethylene Terephthalate price for the quarter was approximately USD 980.00/MT, reported across German FD Hamburg.
• Polyethylene Terephthalate spot prices softened through the quarter, with the Price Index reflecting persistent seasonal headwinds and logistical constraints.
• Production cost pressures remained muted, as easing PTA and MEG failed to lift prices.
• Demand outlook remained subdued, with lower beverage sector activity and cautious converter buying limiting market momentum.
• Inventory builds and constrained export gate operations pressured the Price Index, tightening regional availability despite overall ample supply.
• German production lines operated near nameplate rates, with domestic operational stability limiting supply shocks and keeping short-term volatility contained.
• Price forecast points to only a mild early-2026 recovery, driven by seasonal restocking, with broader upside constrained.
Why did the price of Polyethylene Terephthalate change in December 2025 in Europe?
• Holiday-driven beverage sector drawdowns were limited, and distributor inventories remained adequate, reducing upward price momentum.
• Port congestion and import delays had minimal impact, as regional production and overall inventories were sufficient to keep the market broadly balanced, restraining spot price gains.
MEA
• In Saudi Arabia, the Polyethylene Terephthalate Price Index fell by 2.62% quarter-over-quarter, driven by ample imports.
• The average Polyethylene Terephthalate price for the quarter was approximately USD 991.00/MT, market reporting confirmed.
• Polyethylene Terephthalate spot prices remained under pressure, anchored by steady domestic output and consistent import flows, limiting arbitrage opportunities.
• Imports from the Asian market at competitive prices increased, adding further pressure on local spot levels.
• The near-term price forecast stays range-bound, supported by balanced supply and muted seasonal demand.
• Production cost trends softened, as easing MEG and crude benchmarks reduced upward pressure on prices.
• Cautious demand from converters restrained spot buying, encouraging formula-based transactional procurement.
• Price Index stability reflected high plant run-rates, ample inventories, and smooth port operations, keeping prices contained.
• Export discounts from APAC and freight volatility further pressured local pricing, extending the negative momentum of the Price Index.
Why did the price of Polyethylene Terephthalate change in December 2025 in MEA?
• Cheap overseas imports and insufficient cost support limited upward growth.
• Limited downstream restocking and year-end destocking restricted demand, amplifying sensitivity to import-driven price competition regionally.
South America
• In Brazil, the Polyethylene Terephthalate Price Index rose by 4.82% quarter-over-quarter, reflecting tighter prompt availability.
• The average Polyethylene Terephthalate price for the quarter was approximately USD 1109.67/MT, reflecting steady operations.
• Polyethylene Terephthalate spot prices stayed elevated, supported by constrained prompt availability and logistics-related spot premiums.
• Demand outlook remained seasonally firm, driven by beverage and packaging restocking ahead of the holiday season.
• Inventory draws and prioritized contract shipments limited prompt availability, keeping the Price Index supported.
• Export demand remained modest, but intermittent port delays tightened local supply, reinforcing upward price pressure.
• Price forecast points to modest upside, especially if port congestion continues and seasonal restocking gains momentum.
Why did the price of Polyethylene Terephthalate change in December 2025 in South America?
• Port congestion and adverse weather tightened prompt availability, reducing supply and elevating domestic Price Index.
• Export disruptions and inventory drawdowns ahead of seasonal buying tightened availability, elevating spot interest and seller leverage.
For the Quarter Ending September 2025
North America
• In the USA, the Polyethylene Terephthalate Price Index fell by 9.71% quarter-over-quarter due to oversupply.
• The average Polyethylene Terephthalate price for the quarter was approximately USD 1029/MT FAS Houston data.
• Polyethylene Terephthalate Spot Price weakened as low-cost imports undercut domestic offers, flattening market activity.
• Near-term Polyethylene Terephthalate Price Forecast indicates limited upside, with persistent import competition and inventory headwinds.
• Polyethylene Terephthalate Production Cost Trend remained contained due to stable PTA and modest MEG movements.
• Polyethylene Terephthalate Demand Outlook remains weak as beverage sector offtake disappointed despite seasonal expectations overall.
• High inventories and competitive imports pressured the Polyethylene Terephthalate Price Index, limiting sellers' margin recovery.
Why did the price of Polyethylene Terephthalate change in September 2025 in North America?
• Ample domestic and imported supply exceeded subdued seasonal offtake, producing downward pressure on realized prices.
• Insufficient cost pressure from the feedstock.
• Crude oil fluctuations, Port congestion, dwell variability and tariff shifts created uncertainty, prompting buyer caution and suppressing demand.
APAC
• In Japan, Polyethylene Terephthalate Price Index rose by 3.08% quarter-over-quarter, supported by strong domestic demand.
• The average Polyethylene Terephthalate price for the quarter was approximately USD 815.33/MT, per Tokyo CFR.
• Polyethylene Terephthalate Spot Price remained range-bound amid balanced supply and moderate bottler purchases limiting upside.
• Polyethylene Terephthalate Price Forecast indicates near-term stability as inventories cushion demand fluctuations and restocking cautious.
• Polyethylene Terephthalate Production Cost Trend softened as MEG eased while PTA stayed steady, reducing pressure.
• Polyethylene Terephthalate Demand Outlook remains muted, beverage sector procurement moderate amid elevated finished-goods inventories continuing.
• Polyethylene Terephthalate Price Index volatility was muted as freight eased and logistics remained manageable thus.
• Abundant inventories and softer export offtake pressured spot markets, prompting producer curtailments to rebalance supply.
Why did the price of Polyethylene Terephthalate change in September 2025 in APAC?
• Softening feedstock costs, reduced production costs, partially offsetting domestic demand pressures marginally.
• Robust domestic beverage consumption and inventory restocking increased local offtake, supporting short-term price resilience slightly.
• Easing inter-Asia freight rates and manageable logistics reduced import costs, moderating upward pressure on offers.
Europe
• In Germany, the Polyethylene Terephthalate Price Index fell by 1.72% quarter-over-quarter, reflecting softer demand conditions.
• The average Polyethylene Terephthalate price for the quarter was approximately USD 1084.67/MT, reflecting spot activity.
• European Polyethylene Terephthalate Spot Price softened as Price Index reflected ample supply and weak trade.
• Polyethylene Terephthalate Price Forecast indicates modest downside risk near term without stronger converter restocking soon.
• Polyethylene Terephthalate Production Cost Trend eased as MEG weakness partly offset stable PTA, compressing margins.
• Polyethylene Terephthalate Demand Outlook remains soft; converters limit purchases, prioritising immediate volumes over strategic restocking.
• Inventory overhang and competitive Asian offers pressured the Polyethylene Terephthalate Price Index, prompting seller discounts.
• Plant turnarounds and port congestion intermittently tightened availability while logistics variability disrupted deliveries and scheduling.
Why did the price of Polyethylene Terephthalate change in September 2025 in Europe?
• Abundant supply and completed maintenance cycles increased available volumes, suppressing spot buying and weighing on Price Index.
• Weak feedstock market reduced production costs, encouraging sellers to lower offers and pressure margins.
• Weak downstream demand and cautious converter procurement limited offtake, reinforcing bearish sentiment and subdued trading.
MEA
• In Saudi Arabia, the Polyethylene Terephthalate Price Index rose by 0.20% quarter-over-quarter, driven by import and feedstock pressures.
• The average Polyethylene Terephthalate price for the quarter was approximately USD 1017.67/MT, supported by steady import flows and inventories.
• Polyethylene Terephthalate Spot Price remained range bound as balanced Asian imports and domestic production maintained consistent supply.
• PET Price Index movements reflected steady consumption from beverage and packaging sectors amid cautious buyer behaviour and inventory cushions.
• Polyethylene Terephthalate Demand Outlook appears cautious with downstream converters deferring large purchases amid geopolitical uncertainty, ample stocks and uncertain crude oil price.
• Polyethylene Terephthalate Price Forecast signals modest volatility potential from Asian export offer revisions and seasonal packaging demand changes.
• PET market stability was also supported by efficient port throughput, steady plant operating rates, and limited short-term supply disruptions.
Why did the price of Polyethylene Terephthalate remain steady in September 2025 in MEA?
• Asian export offers softened as feedstock-driven production costs eased, reducing import values and local price support.
• Domestic inventories were ample while downstream consumption stayed moderate, lowering urgency for restocking and capping upward pressure.
South America
• In Brazil, the Polyethylene-Terephthalate Price Index fell by 9.8% quarter-over-quarter, reflecting weak demand conditions recently overall.
• The average Polyethylene-Terephthalate price for the quarter was approximately USD 1058.67/MT, indicating subdued quarterly levels.
• Polyethylene-Terephthalate Spot-Price weakened as discounts and imported volumes pressured domestic spot market activity significantly recently.
• Polyethylene-Terephthalate Price-Forecast remains cautious with projected range-bound moves amid inventory uncertainty and restrained buying persistently.
• Polyethylene-Terephthalate Production-Cost-Trend weakened coupled with the low cost support from the feedstock market.
• Polyethylene-Terephthalate Demand Outlook remained weak with beverage and packaging procurement remaining cautious and conservative behavior.
• Inventory overhang and steady plant run-rates kept PET prices under pressure despite logistics conditions persistently.
• Export interest was limited while domestic sellers offered discounts to clear stock and maintain cashflow.
Why did the price of Polyethylene-Terephthalate change in September 2025 in South-America?
• Persistent oversupply and high inventories reduced spot demand, pressuring September prices despite steady production economics.
• Competitive imported cargoes and discounted offers constrained domestic sellers, reinforcing downward pressure on Price-Index levels.
• MEG cost softness limited production cost pressures while weak downstream offtake and procurement suppressed buying.
For the Quarter Ending June 2025
North America
• North American Polyethylene Terephthalate (PET) Price registered a bearish trend in the Q2 2025 especially in the US market where it declined by 5.7%, settling at USD 1117/MT FAS Houston in June.
• The bearish price trajectory stemmed from soft downstream demand, weak feedstock costs, and elevated inventory levels.
• Supply remained ample, supported by consistent domestic production, proactive Q1 restocking, and Q-o-Q surge in PET imports—primarily from South Korea, Taiwan, and Mexico. The resumption of operations at Formosa and Nan Ya Plastics further improved supply-side balance.
• Feedstock costs trended neutral to soft; MEG prices declined in April and May due to oversupply but rebounded marginally in June amid tight availability. PTA values showed minimal fluctuation, limiting upward cost pressure.
• Demand from packaging and bottling sectors was steady but uninspiring, as cautious consumer sentiment, persistent inflationary pressures, and elevated interest rates constrained downstream procurement activity.
Why did the price of PET change in July 2025 in the US?
• In July 2025, the Polyethylene Terephthalate (PET) Price Index in the US declined due to persistently weak spot import demand and intensified competition from low-cost international suppliers.
• The PET Production Cost Trend remained stable, with unchanged feedstock MEG and PTA prices offering no cost-driven price support.
• The PET Price Forecast suggests continued downward movement, as surplus inventories, strategic buying behavior, and aggressive overseas offers—especially from Turkey and Vietnam—exert pressure on domestic market valuations.
APAC
• APAC Polyethylene Terephthalate (PET) prices declined during the Q2 2025 especially in the Indonesian market where it declined by 3.4%, settling at USD 763/MT CFR Tanjung Priok in June.
• The bearish quarterly trend stemmed from persistent supply overhang, soft demand from packaging and beverage segments, and subdued international inquiries, particularly during April and early May.
• High inventory levels, stable imports from major Asian producers, and consistent operating rates in China ensured supply continuity, despite minor plant turnarounds and upstream feedstock volatility.
• PET prices dipped to a quarterly low of USD 710/MT in late April due to aggressive overseas offers, falling MEG and PTA costs, and limited downstream procurement amid weak consumer sentiment and inflationary pressure.
• While seasonal summer demand led to a brief rebound in late May—pushing prices to USD 760/MT—procurement remained cautious, and the rally was tempered by high finished goods inventory and restricted restocking.
• Despite localized gains in June, tepid macroeconomic indicators and persistent supply-demand demand capped any sustained recovery, cementing a net price decline across Q2 2025.
Why did the price of PET change in July 2025 in the APAC region?
• In July 2025, the Polyethylene Terephthalate (PET) Price Index in the Asian market, witnessed a steady decline due to soft market fundamentals and high material availability.
• The PET Production Cost Trend remained weak, as feedstock prices declined in tandem with bearish upstream crude oil benchmarks, while inventory accumulation compelled producers to cut operating rates.
• The PET Price Forecast reflects continued downward pressure, driven by muted downstream demand, ample regional supply, weather-related logistics disruptions, and a cautious procurement environment across key APAC hubs.
Europe
• European Polyethylene Terephthalate (PET) Price witnessed a bearish trend during the Q2 2025 especially in the Netherlands where it declined by 4.1%, settling at USD 1076/MT FD Rotterdam in June.
• The overall bearish pricing trend was driven by subdued demand, high inventory levels, and increased competition from recycled PET (r-PET), which continued to erode virgin PET market share amid EU sustainability mandates.
• PET prices opened at USD 1120/MT in early April, then declined steadily across May due to weak offtake from preform and packaging sectors, high pre-built inventories, and persistent port congestion at key Northern European terminals such as Rotterdam, Antwerp, and Hamburg.
• Downstream sentiment was cautious throughout the quarter. Consumer demand lagged behind expectations, while bottlers and converters adopted a wait-and-watch strategy, leading to lower procurement intensity and downward pricing pressure.
• Despite limited price recovery in June—driven by seasonal beverage demand, tight MEG supply from the U.S., and logistical delays—quarterly prices remained lower on average due to earlier declines.
• Virgin PET retained preference over r-PET in several downstream segments, due to lower volatility, performance consistency, and reduced-price premium, but the overall demand recovery was modest.
Why did the price of PET change in July 2025 in the European region?
• In July 2025, the Polyethylene Terephthalate (PET) Price Index in Europe rose moderately, supported by seasonal temperature-driven demand for bottle-grade applications and increased preform procurement.
• The PET Price Forecast reflects cautious optimism, with warmer weather, forward-buying for Q3 and Q4, and manageable supply dynamics sustaining mild upward pressure on PET valuations across key European hubs.
MEA:
• Polyethylene Terephthalate (PET) Price declined during the Q2 2025 especially in Saudi Arabian market where it declined by 3.2%, settling at USD 1015/MT Ex-Riyadh in June.
• • The bearish price trajectory was driven by subdued feedstock costs (MEG and PTA), ample inventories, and soft international quotations, particularly from Asian exporters such as China and South Korea.
• • PET prices fell in early April to mid-May, amid aggressive Chinese offers and excess global production capacity. Stable domestic production and sustained import inflows supported oversupply conditions.
• • Weakened demand post-Eid and post-Hajj, coupled with cautious procurement sentiment, further limited upward price movement through May, despite pre-holiday restocking activity.
• • Downstream demand from the bottled water and beverage sectors held steady, buoyed by rising summer temperatures. Nonetheless, high pre-Hajj inventory accumulation resulted in moderated offtake by late June.
Why did the price of PET change in July 2025 in the MEA region?
• In July 2025, the Polyethylene Terephthalate (PET) Price Index in the Middle East and Africa (MEA) region declined, primarily due to an influx of competitively priced imports from Asia.
• The PET Production Cost Trend weakened as feedstock values dropped in response to bearish upstream crude oil benchmarks, prompting Asian producers to cut run rates amid rising inventories.
South America
• Polyethylene Terephthalate (PET) Price declined in the South American market during Q2 2025 especially in Brazil where it declined by 5.3%, settling at USD 1152/MT FOB Santos in June.
• • The bearish trend was driven by weak downstream demand, subdued international trade flows, and ample inventories.
• Supply remained steady across the quarter, supported by stable domestic production and consistent imports, particularly from the U.S. and Asia.
• Feedstock costs were largely bearish—MEG prices dropped early in the quarter, with limited movement in PTA—helping maintain low production costs. Even late-quarter MEG rebounds failed to influence pricing significantly.
• Demand from downstream packaging and bottling sectors was muted, with buyers adopting cautious procurement strategies amid macroeconomic uncertainty and subdued consumer activity.
Why did the price of PET change in July 2025 in the South America region?
• In July 2025, the Polyethylene Terephthalate (PET) Price Index in South America declined due to weak domestic demand and increased competition from low-cost imports.
• The PET Production Cost Trend remained neutral, with steady feedstock MEG and PTA prices offering limited cost-driven support.
• The PET Price Forecast indicates continued bearish pressure, as global PET demand softened and subdued downstream procurement activity persisted across the Brazilian market.
For the Quarter Ending March 2025
North America
In Q1 2025, the North American Polyethylene Terephthalate (PET) market followed a generally bullish trajectory, characterized by price hikes in January and February, then a slight pullback in March. In January, PET prices rose despite favorable feedstock dynamics, largely due to the anticipated strike by the International Longshoremen's Association slated for January 15. Fears of potential disruptions across the East and Gulf Coast ports drove up procurement activity, placing an upward pressure on prices.
By mid-Q1, PET prices continued to climb amid rising PTA feedstock costs, while MEG prices stayed mostly unchanged. This upward trend was supported by increased industrial output across key end-use sectors and persistent trade barriers on Chinese PET, which shifted sourcing to alternative suppliers. While severe winter weather limited bottle demand, stable consumption from food packaging and evolving policies promoting recycled PET (rPET) contributed to reshaping the market landscape.
In March, PET prices dipped slightly due to muted buying interest and excess product availability. Elevated stock levels, stable upstream pricing, and reduced shipping rates from Asia resulted in a cost-balanced yet demand-weakened scenario. Despite targeted promotions to lift sales, lukewarm demand and intensifying rPET competition pushed prices down, moderating the earlier bullish trend. In the region, the US market saw the widest fluctuations, with PET prices edging up 1% by quarter's end from the previous quarter, maintaining levels at USD 1190/MT FAS Houston.
APAC
In Q1 2025, the Asia-Pacific (APAC) Polyethylene Terephthalate (PET) market exhibited a consistent bearish price trend, with prices declining consecutively through January, February, and March. This downward trajectory was primarily influenced by subdued demand, elevated inventory levels, and softened upstream cost dynamics. In January, PET prices remained stable initially due to balanced supply-demand conditions and steady feedstock Mono Ethylene Glycol (MEG) prices. However, as the month progressed, weak post-holiday demand, high inventories, and declining Purified Terephthalic Acid (PTA) prices—resulting from oversupply—triggered a price drop by month-end. February sustained the bearish outlook amid tepid domestic consumption, particularly in the beverage sector affected by cold and wet weather, while rising regional inventories and lower Asian import prices pressured prices further. Feedstock PTA continued its weak streak and market confidence remained low due to softened consumer sentiment. March extended this trend with persistent oversupply, weak procurement from downstream sectors, and falling MEG and freight costs. Despite seasonal demand recovery during the start of summer, supply outweighed demand, and PET producers maintained high operational rates, amplifying market pressure. By March end, prices had cumulatively dropped to USD 790/MT from USD 829/MT in early January, in Indonesia.
Europe
In Q1 2025, the European Polyethylene Terephthalate (PET) market witnessed a mixed price trajectory, shaped by shifting market fundamentals across each month. In early Q1, PET prices declined, primarily due to sluggish downstream demand and cautious procurement across the bottle and food packaging industries following the pre-holiday stocking phase. Despite steady supply and unchanged feedstock prices (PTA and MEG), weak consumer confidence and subdued end-user activity restrained upward price movements. Compounding this, logistical concerns and moderate export activities further limited buying interest, leading to a softening price environment. In February, PET prices increased, supported by rising production costs. This uptick in raw material costs prompted manufacturers to adjust pricing to protect margins. Simultaneously, demand showed signs of recovery, driven by seasonal consumption. Although broader economic concerns persisted, the impact of proposed U.S. tariffs had limited immediate effects on PET trade flows, offering short-term insulation. In the end of Q1, PET prices declined marginally after initial stability. Ample supply, supported by consistent production and high inventory levels, met steady but unremarkable demand. Feedstock prices remained unchanged, offering no cost push. Meanwhile, subdued procurement activity and increasing import availability exerted slight downward pressure, causing prices to dip by the end of the month, reflecting a well-balanced yet cautious market landscape. In the region, the Netherlands market faced notable fluctuations, with prices standing at USD 1122/MT FD Rotterdam by the quarter’s end.
South America
In Q1 2025, the South American Polyethylene Terephthalate (PET) market, exhibited a bullish price trend during January and February, followed by a downward adjustment in March. In January, PET prices rose as global shipping concerns arose, particularly with potential disruptions on the East and Gulf Coasts in the US, buyers in Brazil kept a close watch on regional supply chain dynamics. Further Brazil’s manufacturing slowdown and logistical uncertainties such as rising container rates and the lack of ample feedstock MEG due to the limited import from US amidst the shutdown of units, supported the prices to rise. In February, PET prices rose in mid-month. This upward shift was attributed to a rise in PTA feedstock prices and a temporary tightening in regional supply following maintenance shutdowns at Alpek’s Suape plant. Additionally, seasonal demand from beverage and packaging sectors lent further support, despite macroeconomic headwinds like low consumer confidence and persistent inflation. However, March reversed the bearish trend. This decline was primarily driven by oversupply, high inventory levels, and muted downstream consumption. Even as feedstock costs remained stable, the market faced a demand-side weakness and increased imports due to lower freight rates, which collectively suppressed price momentum. The Brazilian market experienced significant fluctuations during the period, with prices reaching USD 1122/MT FOB Santos by the end of the quarter.
MEA
In Q1 2025, the Polyethylene Terephthalate (PET) market in the MEA region exhibited an overall bearish price trend, marked by a consecutive monthly decline in prices across January, February, and March. Initially, January began with stable pricing, supported by steady imports from Asia, consistent domestic production aided by stable feedstock costs—particularly MEG—and balanced demand from the beverage and packaging sectors. Despite minor logistical disruptions and subdued regional sentiment, stable inventory management and resilient non-oil economic performance helped sustain price levels. However, by February, A combination of sluggish global demand, weak freight rates, and anticipatory inventory stockpiling ahead of Ramadan led to excess supply in the market. Additionally, lower MEG and PTA feedstock prices reduced production costs, enabling sellers to offer competitive prices, pushing values down. In the end of the quarter, bearish momentum intensified, driven by elevated inventories, weakened Asian import flows, and subdued procurement activity. Softening global crude oil prices and declining feedstock MEG costs pressured manufacturers’ margins, contributing to further price reductions. Despite a seasonal demand uptick during Ramadan, PET prices remained under pressure due to oversupply and cautious downstream procurement. This overall market trajectory signaled a persistent bearish sentiment throughout the first quarter, culminating in a 4.0% price drop in Saudi Arabia by the end of Q1 compared to the previous quarter, with rates settling at USD 1,049/MT Ex-Riyadh.
