PET prices likely to stay stable in the near term in India on uniform demand – 17 Sep 2014

In India, PET prices are likely to remain stable at the prevailing rates in the near term as the demand pattern is not expected to change from the current trend. In addition to stability in demand conditions, prices of the key feedstock--PTA and MEG--are also not expected to undergo notable transitions in the near future. While, there is also no likelihood of shortage in supply to impact the price.

Demand from the PET bottle segment, the predominant consumer, would also tend to stay flat as production volume of the bottles is not likely to go up in the country. PET bottle manufacturers, contacted by the website, said that they had no plan to ramp up their production in the coming days, although festive season is round the corner.

A Kolkata-based trader said that off-takes of the material is moderately active in the market, and the available stocks were in excess of the demand.

In the Delhi market, traders said that active off-takes of the material were prevailing in the market, and they did not foresee any imminent fluctuation in the price.

PET is sold in the major markets in the country at around Rs 110-111 a kg.