PET price to remain stable in India on uniform demand – 15 Jan 2014

PET prices in India are not likely to undergo any major change in the near term as demand for the raw material is expected to remain stable, and costs of the key feedstocks--PTA and MEG--are not likely to fluctuate upwards. The prevailing buying pattern for the PET material indicates that price movements ahead will stay flat. A market research conducted by Indianpetrochem revealed that most buyers avoided bulk purchases and abstained from building up raw material inventories. The demand pattern, thus, has been uniform, and the indications are that there will be little deviation at least till the end of the current month. Besides, less PET off-take by the soft-drink bottle manufacturers in the winter season has acted to restrict demand.  
 

Market participants also rule out any deviation in the PET price in the near term on account of the apparent improbability of prices of PTA and MEG--the key feedstocks--moving up in the near future.
 

In the major markets in the country, PET prices continued to remain stable. A Delhi-based trader told the website," PET price has not undergone any change during the last few days. The price continues to remain at around Rs 120-123 a kg."