Gulf Countries Face the Rise in Price for PolyethylenterephtalateJun 20th, 2017
The price for polyethylenterephtalate in the Gulf countries increased at the end of May. The reason for price growth was the decline in the polyethylenterephtalate supply from local traders. This region has always offered the limited supply of polyethylenterephtalate, and therefore, the price for this material has remained high.
At the end of the spring season, the manufacturers and traders did not put up the polyethylenterephtalate price because of the limited supply. According to market participants, the two leading manufacturers have reduced the production capacity that caused the rise of the price for polyethylenterephtalate.
Another regional manufacturer has restricted the rate of the proposal in the connection with a small presence of the initial product for further production, and also due to volatile sales in the first quarter of this year.
In mid-May, the price for polyethylenterephtalate was calculated from $1,000 to $1,050 per tonne. Moreover, in the last week of May they increased the spot price by $10-15 per tonne of PET. The price for polyethylenterephtalate was volatile in the Russian Federation either.
Normally, the seasonal factor supposes the growth of demand for polyethylenterephtalate, however, today the demand is estimated as not very high. According to some suppliers, the season of active polyethylenterephtalate trade did not start on time due to the late spring and cold weather at the beginning of the last spring month.