Asia PET Resin Market Update: Prices Tumble as Crude & Feedstocks Slide

According to the November 6, 2026 ICIS Polyethylene Terephthalate market assessment, Asian PET export prices tumbled sharply this week, tracking a steep rout in crude oil and upstream feedstock costs. Late-week spot offers in China retreated to $1,130–$1,150/tonne FOB as buyers stepped back to monitor market volatility.

Key Price Indicators & Operational Metrics

• Feedstock & Crude Rout: Driven by hopes for a diplomatic settlement in the US-Iran conflict, falling crude oil sent upstream PTA plunging $51/tonne back below $1,000/tonne and triggered spot sell-offs in MEG. Consequently, Chinese PET offers dropped from the low-$1,200s down to $1,130–$1,150/tonne FOB China by week's end.
• Tight Inventory Cushion Remains: While upcoming restarts at Fujian Billion Petrochemicals (700 kt/year) are set to lift supply slightly, China's overall bottle-grade operating rate remains modest at 60.9%. A 70%–90% sales-to-output ratio kept factory inventories pinned at just 2–5 days.

Procurement Advisory for Global Converters

Most downstream buyers have adopted a wait-and-see posture during the seasonal year-end lull to let a clear price floor emerge. However, with producer inventories still sitting at a tight 2–5 days and ocean freight rates remaining elevated, this sudden $1,130–$1,150/tonne FOB China pullback provides an opportunistic window to lock in December and early Q1 allocations before geopolitical volatility returns.