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Russian PET prices rose by Rb 3,500/tonne over 1.5 months

October 13/2011

(MRC) -- From the beginning of the autumn, PET price from the Russian producers grew by roubles (Rb) 3,500/tonne, and made Rb64,000 67,000/tonne, including VAT, CPT Moscow, according to ICIS-MRC price report.

Over the first week of September, Russian PET quotation made Rb61,000 -63,000/tonne, including VAT, CPT Moscow. Because of an unsuccessful season, producers and converters had a large inventory stocks that didnt presage an advance in price in the near future. However, the situation had changed significantly by mid-autumn.

There were several factors for the price increase. Instability in the global economy resulted in foreign capital flight, which led to the rouble devaluation. In the Asian markets the prices hike of paraxylene and MEG caused rising of cost of domestic pellets production, that does not have its own feedstock chain. Asian market increase in PET prices made domestic pellets more profitable for local PET preforms producers. Converters preferred the Russian material, that stimulated producers to rise the shipment prices in the domestic market.


However, despite the more favourable price offer of the domestic producers, the demand for domestic PET didn"t change significantly. Big feedstock inventories, as well as seasonality in consumption affected this.

Following last week results, Asian PET rices continue to decline. According to market players, export shipments of Korean PET in the CIS region were at USD1,620/mt, FOB. Russian rouble strengthening and the ongoing for the third week downward trend in Asia, diminish the competitive advantages of domestic pellets. However, the quotation of Russian producers is still more attractive for the polymer converters.

Tags:granulate, preforms.
Category:General News
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