‘Unprecedented’ Price Hikes Needed to Restore Health

Leading U.S. producers of polyethylene terephthalate (PET) resin and polyester staple fiber (PSF), already beleaguered by overcapacity and weakening demand, are taking steps to offset rapidly rising upstream costs by raising prices. Wellman has since the start of June announced PSF price increases of 6 cts/lb, and DAK Americas has announced increases of 9 cts/lb. DAK says it has announced PET prices from increases of 25 cts/lb from April to August. DAK recently said that “unprecedented” steps would be necessary to ensure its viability amid...

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