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(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
didn’t 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.
mrcplast.com
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