Overall, about 143,000 tonnes imported PET entered the Russian market over the first seven months of the year.

 

Increased imports in H1 2014 were caused by the competitive price of Chinese suppliers. However, the growth in the exchange rate of the rouble against the dollar led to higher purchase prices of imported material, allowing Russian producers to expect a drop in demand for the competitive imported material in the second half of the year.

 

July imports fell by 26% from June and totalled about 15,000 tonnes. Russian converters have been reducing imports for the fourth consequtive month after the peak April figures. Buying activity remained low in the spot market, despite the downward trend in import purchasing from May to August, said sellers of Russian PET. Demand was impacted negatively by PET chips carryovers at Russian consumers" warehouses and low sales of PET preforms, said market players.

 

The share of Chinese PET grew in July structure of shipments at the expense of the Korean producers. Chinese grades accounted for 21% of the total July imports.