Copyright © 2021 Mintec Limited Contents
Packaging
PET & PP
41
1,000
1,200
1,400
1,600
1,800
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
PET US - USD/MT
2O89 - PET bulk cont fob US
PE and PP markets were significantly impacted by substantial plant outages in Q3 2020 caused by
hurricanes, followed by severe winter storms during February 2021, which hit primary petrochemical
plants on the Gulf Coast and caused essential plants to declare force majeure. Although plants have
begun to reopen, supply remains insufficient to meet demand. The May 2021 average price of US PET
was USD 1,598/MT, up 42% y-o-y and 8.2% m-o-m.
The US PP market was severely impacted by the plant outages in Q3 2020 and February 2021. The
tight supply has been insufficient to meet firm US demand leading to increased reliance on PP
imports from Asia. Factories have gradually begun to reopen causing prices to slip since April, though
it will take time for production to return to full capacity. As a result, the May average price of US PP
was recorded at USD 2,420/MT, up 89% y-o-y but down 8% m-o-m.
The US PP market was severely impacted by the plant outages in Q3 2020 and February 2021. The
1,200
1,700
2,200
2,700
3,200
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
PP US - USD/MT
2O85 - PP cont fob US
600
800
1,000
1,200
1,400
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
PET EU - EUR/MT
2O52 - PET cont del DE
EU PET mirrored the bullish run in the EU PE market, with tight supply and firm demand supporting
prices. Lower production, due to factory shutdowns in the US, caused imports to fall significantly,
thus depleting EU stocks. As a result, the May 2021 average price of EU PET was recorded at EUR
1,334/MT, up 76% y-o-y and 8.8% m-o-m.
Tight supply and firm demand continued to drive the EU PP market, which, like other plastic
materials, has been driven more by fundamentals rather than by COVID-19. The May 2021 average
price of EU PP was EUR 1,799/MT, up 85% y-o-y and 3.8% m-o-m.
Tight supply and firm demand continued to drive the EU PP market, which, like other plastic
850
1,070
1,290
1,510
1,730
1,950
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
PP EU - EUR/MT
2O53 - PP cont del DE