MOSCOW (MRC) - Prices for imported Asian polyethylene terephthalate (PET) (Chinese and Korean)  rose by USD120-160/tonne with the delivery to the port of destination, according to ICIS-MRC Price Report.

 

Suppliers of Asian bottle grade and film PET chips increased prices following the rising quotations of feedstock. 

Producers increased prices in the beginning of April because of the price rise for purified terephthalic acid (PTA) on the back of force majeure at paraxylene (PX) plant Dragon Aromatics in China.

 

In the second half of April PET prices grew because of the monoethylene glycol (MEG) price rise, after rising quotations of ethylene, as well as a fire at Sinopec plant. 

 

At the beginning of April, the Asian PET prices with the delivery into Russian ports were heard in the range of USD1,010-1,080/tonne CIF Novorossiysk, excluding VAT. The price of the east of the country was USD965-1,020/tonne CIF Vostochny, excluding VAT.

 

In the last week of April the price of Asian PET reached USD1,170-1,200/tonne CIF Novorossiysk, excluding VAT and USD1,120-1,150/tonne CIF Vostochny, excluding VAT.

 

At the same time the strengthening of the rouble against the dollar contributed to the decline in prices in the rouble terms for Russian importers, who received new volumes in April.

 

Prices for Chinese and Korean PET chips with the delivery in the port for Ukrainian customers were at USD1,010-1,070/tonne CIF Odessa, excluding VAT in the beginning of April and increased to USD1,170-1,200/tonne CIF Odessa, excluding VAT in the end of the month.