The market for PET films continues turbulet. After sharp declines earlier this year, brought on in part by Indian and Korean dumping, prices are now on an upward curve. MitsubishiPolyester Film (PO Box 3365, D-65023 Wiesbaden), European subsidiary of the Japanese group, has announced its third increase this year, effective 1 October. This follows hikes of 10-15% each in April and July 1999.

Citing earnings pressure due to feedstock price increases, Mitsubishi said it is forced to lift prices by 50 pfennigs (25,6 cents)/kg. This is despite a recent decision by the European Commission to provisionally apply additional customs duties of 7-37% on Indian imports of PET film. Final action by the Commission on the complaint brought by Mitsubishi, DuPont, Toray and Nuroll is expected in December. Mitsubishi Polyester Film reported a loss of EUR 23m for 1998.