MOSCOW (MRC) -- This week’s prices of Russian polyethylene terephthalate (PET) rose by Rb2,000-5,000/tonne from last week, according to ICIS-MRC Price report.
Prices of Russian bottle grade PET ranged from Rb78,000-83,000/tonne FCA the plant’s warehouse, including VAT.
Market players did not expect such a rapid price surge back in early August. On the back of weak demand this summer, some players anticipated PE prices to go down by the end of the month or early autumn. The sharp devaluation of the rouble made changes to the prognosis. Local companies raised prices for the domestic market, despite the fall in prices of imported PET chips (in the foreign currency).
Prices of SIBUR’s bottle grade PET from both production sites in Tver (SIBUR-PETF) and Blagoveshensk (Polief) were announced by the company at Rb83,000/tonne FCA, including VAT.
Prices of Kaliningrad PET of Alko-Naphtha, including delivery to the warehouse in the Central region of Russia, were heard at Rb78,000/tonne CPT Moscow, including VAT. Producers intend to raise their prices by the end of the week, the company’s sources said.
Offer prices of Solnechnogorsk PET of Senezh were announced to buyers in the range of Rb79,000-80,000/tonne CPT, including VAT.
As the same time, prices of Belarusian PET of MogilevKhimvolokno were heard in the range of Rb74,000-75,00/tonne CPT Moscow, including VAT. MogilevKhimvolokno might raise its prices for the Russian market in September to the average price level in Russia, market players believe.
The price rise in Russia was caused by the exchange rate factors, PET chips producers said. At the same time, there was no surge in consumer activity in the market. Some buyers also expect prices to stabilize before they resume purchasing in the spot market.
MRC