MOSCOW (MRC) -- Spot prices of Russian PET increased by Rb1000/tonne on tight supply and rising prices of imported material, according to ICIS-MRC Price report.
Thus, Russian bottle PET prices were Rb66,000-67,000/tonne FCA, including VAT. SIBUR was the initiator of the price increase, having raised prices at its plants in Tver (SIBUR-PETF) and in Ufa (Polief). SIBUR's PET prices rose to Rb67,000/tonne FCA, including VAT, whereas last week's deals were made at Rb66,000/tonne FCA, including VAT.
Prices of Kaliningrad PET in the Central region were heard at Rb66,000-66,500/tonne CPT Moscow, including VAT.
Given the lack of quantities, Solnechnogorsky Senezh did not carry out spot PET shipments. The plant's sources said ROSPET grades were unlikely to be available for spot shipments in August.
The situation with market sales was ambiguous. The first producer reported a noticeable drop in buying activity in the spot market in the last days of July-early August. Demand has declined significantly, but still remains quite strong. The second producer reported strong demand and shortage in the market.
According to MRC's estimates, demand for Russian material in the spot market will grow again in the remaining weeks of August. Rising price of Chinese PET, as well as the expected shortage of Russian material, will contribute to this.
Prices of Russian bottle PET in early August 2013 were Rb60,000-61,500/tonne EXW, including VAT.
MRC