MOSCOW (MRC) - Prices for polyethylene terephthalate (PET) in Russia have declined slightly in early June on the back of weak demand and lower price for imported Asian material, according to ICIS-MRC Price Report.
Domestic prices for Russian PET this week were heard in the range of rouble (Rb) 75,000-77,000/tonne FCA, including VAT. The lower end of the price fell by Rb1,000/tonne, compared with the last week of May.
The price for the domestic market was cut by the largest PET producer in Russia - SIBUR. Spot sales of PET chips from two producer's sites in Tver and Blagoveshchensk were announced in the range of Rb75,000-76,000/tonne FCA, including VAT.
Spot PET prices from Polief's warehouse with the delivery in Central region was at Rb77,100-78,100/tonne CPT Moscow, including VAT. PET prices from Senege were heard in the range of Rb76,000-77,000/tonne CPT Moscow, including VAT. A converter said the company was ready to make concessions to buyers. Producer's PET prices in the spot market was at Rb75,700/tonne CPT Moscow, including VAT.
Domestic PET prices from Alco-Naphtha were heard in the range of Rb76,000-77,000/tonne CPT Moscow, including VAT. The company has not yet cut the price.
Market players said the prices of Russian PET have not fallen because of the devaluation of the rouble. However, market demand remains at a low level as for the beginning of the summer.
There was no seasonal summer rush in the spot market. At the same time converters continue to look for the procurement of PET chips in the foreign markets. Some buyers are expected Russian PET prices to be cut in June and do not make purchases, using stocks inventories.
MRC