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CIS buyers expect Asian PET prices to be cut further

July 01/2013
MOSCOW (MRC) -- The converters of polyethylene terephthalate (PET) in the CIS countries expect a further decline in export prices of Chinese bottle grade granulate in July, according to ICIS-MRC Price Report.

Last week converters of bottle grade PET in the CIS countries reported  a decrease in the purchasing prices by USD15-20/tonne.

PET prices in Asia were cut on the back of a sluggish buying activity, as well as falling prices of paraxylene. PET prices in the Ukrainian port were at USD1,410-1,445/tonne CIF Odessa, excluding VAT.

Import prices of Chinese bottled grade PET for the Russian market ranged USD1,391-1,416 per tonne CFR East, excluding VAT.

Some converters stopped buying and are waiting for future price development on the back of uncertain price trends.

Major market players expect that in July the export prices of Chinese bottle PET granulate can fall to USD1,300-1,320/tonne FOB China. Some market sources are more pessimistic in their outlook and expect PET prices in late July to be cut significantly below USD1,300/tonne FOB China.

Export prices of Chinese PET for CIS customers last week were voiced at USD1,360-1,390/tonne FOB China.

One of the largest PET converters in Ukraine said that he had received an offer from the producer at USD1,350/tonne FOB China.


mrcplast.com
Author:Anna Larionova
Tags:Asia, SNG, PET, paraksilol, terephthalic acid.
Category:General News
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