DAK Americas revises Oct PET price increase down

DAK Americas decided to revise its October PET price increase down by 3 cents/lb since an initial hike of 6 cents/lb on September 17, the company said last Friday in a letter to customers.

As a result, it would seek a 3 cents/lb price increase for PET contracts in Nov, citing higher continued pressure from feedstock costs. US PET contracts were talked near $1,698-1,720/mt prior to the October increase.