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Earthquakes in Japan to affect PET market

March 18/2011

MOSCOW (MRC) -- Earthquakes in Japan may result in deficit of paraxylene in the region and affect the world balance, according to MRC analysts.

Japan is one of the biggest Asian exporter of paraxylene, main material for terephtalic acid (TPA) and PET. Over 2010 Japan has produced about 3.2 mln of paraxylene, 700 KT out of which were consumed within the country and about 2.5 mln were exported. 

Capacity of the Russian market of PET makes about 600 KTa. Capacities of the enterprises (Sibur-PETF, Senegh, Polief) allow to cover about half of  total consumption. About 300 KTa fall at imports from South Korea, China, Belorussia and some other countries. Traditional for the Russian market suppliers have already declared the decrease of PET production in connection with paraxylene deficit.

Over a week export quotations for PET in Asia have grown, on average, by USD 100/mt and exceeded the level of USD 1.950/mt, FOB. Next week further growth of granulate prices is expected.

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