PET demand to lose strength in Indian markets as rainy season sets in; No upward price likely – 3 Jul 2014

The prevailing strong demand conditions for the PET material in Indian markets are not expected to last long as the rainy season has set in. Normally, demand for the material softens during the rainy days, due to manufacturing activities for the end-products losing momentum. Recently, the major PET producer in the country: RIL raised its ex-work price for the material on account of upward feedstock price movement. Traders, contacted by the website, expected that price of the material will not go further upwards in the near future.
 

A Delhi-based trader told the website, "Demand for PET is strong in the market, and ample stocks are available." He quoted the price at Rs 110 a kg, of RIL's material.
 

A trader in the Ahmedabad said that his stocks of the PET material had exhausted on account of the strong demand conditions. He was selling imported PET at Rs 115 a kg