No upward movement in PET price likely in India – 26 Mar 2014

PET prices are not likely to go up in India in the near term as demand conditions are expected to remain stable, in the absence of any remarkable spurt in manufacturing activity. The prevailing demand for the raw material is moderate in the major markets of the country, according to traders contacted. The demand is, however, will strengthen further in the medium term with the summer season setting in. During summer season, demand for soft-drink bottles goes up, and that strengthens demand for the PET material, out of which the bottles are made of. 
 

PET bottle manufacturers, contacted by the website, told that their manufacturing volumes were going on uniformly. They also said that their PET purchases will gain momentum after demand for beverage bottles gaining strength during the summer season.
 

In the feedstock markets, demand for MEG was also moderate in the major markets in the country. MEG was sold at around Rs 75 a kg (exclusive of taxes) in the Ahmedabad market.
 

In the Mumbai market today, traders quoted PET price at around Rs 110 a kg, and they did not expect any upward traversal in the price in the coming days.