Container prices for shipping polymers from Asia to the US West Coast were set to increase January 1, 2012, several trading sources said.
"Our rates are going up $350/container, and that's going to raise prices for our customers," said a US PET importer who brings in resin from China to the US.
The typical 20-foot container can hold 20-22mt of PET resin. A $350/container increase would then add about $16-17/mt or 0.72 cents/lb to the price of imports.
Another importer said he was notified of a $500-600/container price increase but was trying to negotiate it lower.
"Our margins are thin as it is, so the higher container price will have to be passed on," a PET importer said.
