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PET imports to Russia surged by 42% from January to May 2014

June 26/2014

MOSCOW (MRC) -- Imports of polyethylene terephthalate (PET) into the Russian domestic market rose from January to May 2014 by 42%  year on year, according to MRC ScanPlast.

PET imports to Russia reached 107,400 tonnes over the first five months of 2014. China remained the main PET chips supplier to the Russian domestic market. Chinese grades accounted for 77.5% of the total imports into Russia.

The most popular market grades remained HY-W01 of Shanghai Hengyi Polyester (imports from January to February totalled 25,500 tonnes).  The second place occupied WK801 grade of Zhejiang Wankai (imports from January to February were 21,600 tonnes) and the third place - Jade CZ-302 grade of Jiangsu Sanfangxiang (imports from January to February totalled 21,200 tonnes).

This year"s stronger demand for imported PET has led to a drop in consumer activity in the Russian domestic market. In addition, Polief increased its production capacity this year (from 120,000 tonnes per year - up to 210,000 tonnes per year), leading to stiffer competition in the domestic market. June buying activity fell sharply in the spot market. Carryover stocks of imported material resulted in weaker demand.
Author:Margaret Volkova
Tags:PET, granulate, Jiangsu Sanfangxiang, Shanghai Hengyi Polyester, Zhejiang Wankai, POLIEF, China, Russia.
Category:General News
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