As the pandemic continues to create distortions, the current shortages will most likely remain in place until Q2.
PBT supply becomes short in Europe as shipping disruptions reduced imports, according to GC Intelligence market analysis.
The ongoing pandemic has created distortions in the shipping market, resulting in tight supply of containers.
The tightness meant freight costs rose from around €50-70/mt to about €200-300/mt, according to some players.
Import prices therefore increased even more from the highs reached recently because of the good demand in China.
Moreover, the scarcity of containers lengthened delivery times and pushed buyers to source more from domestic suppliers.
But as demand continued to find support in January, domestic suppliers had also limited availability.
As PBT supply becomes short, many buyers had to absorb big increases, some up to €300-400/mt from Q4 to Q1.