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European PET market supply demand pattern analysis and outlook
¡ª¡ªMr. Francesco Zanch, Founder and CEO from Global Service International

2017-10-19 16:21:13
Mr. Francesco Zanch, Founder and CEO from Global Service International gave his speech of European PET market supply demand pattern analysis and outlook 

Mr. Francesco introduced status of world PET market. World PET demand in 2017 reached 22.3 million tons, 4.4% higher than 2016 and capacity 29.4 million tons, 5.3% higher than 2016. In 2017, world PET is predicted to see 7.1 million tons overcapacity, including 4.5 millions in China, and in 2018, the overcapacity may reach 9.6 million tons. Japan¡¯s anti-dumping of PET to China made China PET exports decline 440kt which may flow to other countries like South Korea, Indonesia, Vietnam and Taiwan while will increase to Europe. 

As for European PET market supply, JBF Belgium shut down its 440kt/yr unit. In 2018, Lithuania will expand capacity by 150kt and the market outside Europe will see 620kt. For antidumping investigations, antidumping to China will be reviewed after expired in 2017. European PET imports increased obviously in 2017 and South Korea became the largest origin, followed by Indonesia. India also took the leading of its destinations, followed by Romania. GSI predicted that European PET will keep stably increasing in 2017-2018. At last, the report briefly analyzed factors having impact on PET price including crude oil, raw materials, demand and supply, etc. 

1. In 2018, European PET market will be affected by unit change of JBF Belgium, imports from China and anti-dumping to Indonesia and Turkey. 
2. In 2018, China new capacity will lower operating rate and profit room of Chinese producers. 
3. In Q4 2017 and 2018, European market will face firm price in local market until restart of JBF. 
4. In 2018, PET trading flow will change largely. Preparations and verification of more PET suppliers are suggested. 
5. European PET market is potential. GSI will help occupy new market and become its significant partner creating value continuously in the market full of fierce competition. 
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