MOSCOW (MRC) - Spot prices of polyethylene terephthalate (PET) in the Russian market declined slightly in the late last week. Prices for imported PET have decreased on the back of the strengthening of the rouble. Russian producers of PET chips made concessions, according to ICIS-MRC Price Report.
Prices for Russian PET were heard in the range of rouble (Rb) 76,500-78,000/tonne FCA, including VAT.
Last week, spot prices from producers have changed differently. Alco-Naphtha and Senege slightly raised spot prices for the domestic market, while the subsidiaries of SIBUR Group, on the contrary, have reduced them. With the logistics costs, the price of Russian PET in the Central region was at rouble Rb76,500-80,800/tonne CPT Moscow, including VAT.
Buying activity in the spot PET market of Russia remained weak. Converters also reported a weak demand in the market of PET preforms. The strengthening of the rouble contributed to the reduction of the upper end of prices.
Stabilisation of the exchange rate also contributed to a decrease in the cost of imported PET entering the Russian domestic market.
Given the current rate of the rouble, the quotations of Chinese PET purchased in December and with the customs clearance this week totalled Rb81,500-84,000/tonne CPT Moscow, including VAT. Prices for Lithuanian PET from Neo Group have also significantly reduced. Given the difference in exchange rate the price of Lithuanian PET in the Russian domestic market decreased to Rb82,000-84,000/tonne CPT Moscow, including VAT.
Prices of Belarusian PET in the domestic market in Russia were at Rb75,500-76,000/tonne CPT Moscow, including VAT.
MRC