PET demand rises in Indian markets post RIL's price reduction – 1 Apr 2014

PET purchases are gradually strengthening in Indian polymer markets after Reliance Industries Limited lowering its ex-work price. The producer has lowered its ex-work PET price by Rs 2 a kg, with effect from today. A Mumbai-based trader told Indianpetrochem,"Demand for the PET material has been satisfactory since the last few days, and it is expected to strengthen in the coming days." 

 
 Many end-users are learnt to refill their PET stocks, taking advantage of falling price. A PET bottle manufacturer in Mumbai told the website, "We are trying to stock the raw material as the price is coming down and demand for PET bottles is increasing. The demand for such bottles will further strengthen as the summer season is approaching."

 
 PET is sold today in the Mumbai market at around Rs 105-106 a kg.