Upward price revision by RIL; market remains detached – 8 Dec 2014

Demand for PET resin has been moderate in Indian polymer markets as most buyers purchased the raw material on need-basis to cater to their immediate production needs. Prevalence of moderate demand conditions along with availability of ample stocks kept price of the material almost stable at around Rs 101 a kg in the major markets in the country.

Many buyers were also expecting further price fluctuation by PET producers in the country, due to which they adopted the need-based raw material procurement strategy.

In communicating with trader in the major polymer market in India, the website gathered information that demand for the PET resin was observed moderate to week in the market. The trader with whom the website discussed about the ongoing market trend shared their comment that demand for the PET resin drops almost 25 % in the market as end user are not functioning actively especially beverage bottle manufactures, while the price for the PET resin remains static in the market. Ample stocks are available with the traders and some traders are selling their material on cheaper rates.