POLYMER BAZAAR

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China Bazaar:  
PET: Our interactions with PET sellers in China elicited that they received lesser purchase enquiries from processors. As a result, they lowered their spot prices to around 6,900 Yuan/MT. When asked for the reason behind bazaar dullness, one of the sellers said that it was due to the year-ending effect.

Indian Bazaar:  
Import Offers:
The latest overseas offers have sunk from the previous levels. According to our sources, China's Wankai has quoted a lower PET offer to India at USD 980/MT CIF NS, Mundra - with payment terms of L/C 90 days.

Buying Pulse: Unsatisfactory finished product sales have taken a toll on the country’s PET processors, hence the sellers. Resultantly, the processors have been constrained to trim their R/M purchases, leading to sluggish PET sales.

Our Mumbai source has reported the spot prices of imported and domestic PET variants at  Rs 90.5-92/Kg and Rs 91-94/Kg, respectively. Also, Delhi sellers have sold the R/M at the same rates, as per the information received.

Purchase Opinion: The occurrence of dullness in the trading hubs does not imply the prices to stay at the current levels in the ensuing days.

Our monitoring of the trading patterns, buying propensity, the factors that are at play in the overall industry, and the shaping up of the price governing factors indicates that there is a strong likelihood of the local producers to implement a hike of Rs 2-4/Kg on 1 Jan 2023. As such, *we advise R/M procurement at the company rates.

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Feed stock on CFR China basis :
PTA quoted higher at $ 770/MT
MEG valued lower at $ 480/Mt

China Bazaar : The state-of-bazaar affairs in China has remained moderate due to the retarding effects of the year-ending mentality. In addition, the rise in COVID cases have also compounded to the retardation. In such bazaar atmosphere, PET prices have stayed stable at around 10,670 Yuan/MT in the major spot bazaars of that country.

Indian Bazaar :
Import Offers: The latest overseas offer from China's Wankai is quoted at USD 930/MT CIF NS, Mundra India - with payment terms of L/C 90 days, lesser that the previous quotation.

An Open Bazaar: In India’s PET bazaars, dark clouds of pessimism have been hovering, constraining sellers to see unsatisfactory sales. Processors were under severe selling pressure arising from reduced end-product sales. Therefore, it made no sense for converters to engage in r/m purchases.

In Mumbai and Delhi bazaar, the imported and domestic material’s basic open bazaar prices were reported at around Rs 90.5-92/Kg and Rs 91-93/Kg.

Buying Pulse: PET processors, who have been keeping their eyes off the bazaars in the hope of the R/M prices to stay calm, should now spring into action.

With the overall demand for all polymers strengthening visibly, the likelihood of PET demand firming up is high on the cards. The recent indications of the global price references, and the brewing r/m building urge among converters are the clear pointers to the possible rise in demand, hence the prices. Again, the recent hike in the Customs Exchange Rate can be a catalyst to the expected price increment. Due to the hike, the landed costs of imports have gone up, giving the local producers a good reason to lift their ex-works prices, citing import price parity.

As such, there arises a strong likelihood of Indian producers hiking their ex-works prices by Rs 2-3/Kg in the coming days.

Purchase Opinon:  Looking to current scenario and expected influence of other price governing factors - PET prices are ready to rise at any moment ,polymer procurement is advised at current levels.

Click to Download PDF with historical Data : 

Feed stock on CFR China basis :
PTA quoted Lower at $ 740/MT
MEG valued Higher at $  470/Mt

China Bazaar :   
PET: Inactivity in PET purchases have continued to prevail in the major plastic raw material bazaars in China.

Despite the govt easing COVID curbs, there has been no improvement in the demand.
As a result, the spot prices have traced a downward curve to reach around 6,800 Yuan/MT in the major open bazaars.

Given the buyers’ mentality, we do not expect the demand to improve in the near term.

Indian Bazaar :   
 Import Offers : The International import booking offer from China's Wankai has been reported at USD 950/MT CIF NS, Mundra India - with payment terms of L/C 90 days.

An Open Bazaar: In the major plastic raw material bazaars in India, PET demand continues to exhibit low but stable demand. Converters have adopted the need-based buying stance due to insufficient PET finished products off-take.

The international feedstock prices of PET are going down continuously and it is affecting the demand sentiments in India.

On Dec 1, Reliance did not change their ex-work prices and withdrew price protection scheme while prices were going down internationally.

In Mumbai and Delhi bazaar, the imported and domestic material’s basic open bazaar prices were reported at around Rs 91-93/Kg and Rs 93-95/Kg.

 Purchase Opinon :Based on the price governing factors and the overall bazaar climate, we advise buyers to keep a close watch on commodity trends. Remarkably, Polymer Procurement is advised at current levels.

Key Feedstock on CFR China basis :
PTA : Assessed lower at around USD 770/MT
MEG: Stayed higher at USD 465/MT

China : Weak end-product sales have eroded PET buying tendency among converters in China. As a result, soft demand conditions have prevailed in the plastic raw material bazaars. Our bazaar source has informed us that PET was sold at around 6,980 Yuan/MT in the major bazaars of that country.

However, we do not rule out the possibility of the PET segment attracting demand in the near future. The recent govt policies to impart industrial growth might prompt buyers to return to PET bazaars.

Indian Bazaar :
Import Offers :China's Wankai has offered PET to India at USD 950/MT CIF NS, Mundra India - with payment terms of L/C 90 days

Latest Rate Revision : With Effect From 1 Dec. '22, RIL rolled over price & withdrew Price Protection.

Custom Exchange Rate :  Effective 2 Dec.'22, GoI has slashed the customs exchange rate to 82.00/USD (-0.60).

Buying Pulse :Our bazaar study during the week shows that PET demand continues to exhibit low but stable demand.

Due to insufficient PET finished products buying, the converters have found no reason to buy more than their immediate needs.
According to a trader’s feedback, the demand could increase little bit in the coming month.
In Mumbai and Delhi bazaars, the imported and domestic material’s basic open bazaar prices were respectively at around Rs 91-93/Kg and Rs 93-95/Kg.

Purchase Opinion : Given the indications in place & the other influencing factors, it seems that the commodity is heading towards a stable trend. As per current equations,  buying is advised.

Key Highlights of Feedstock- CFR China basis
PTA : Assessed lower at around USD 775/MT
MEG: Stayed lower at USD 390/MT

China Bazaar :   
 In China, PET supplies have become short. So, traders have lifted their spot prices to 7,100-7,200 Yuan/MT.

Indian Bazaar :   
 Import Offers : The latest import offer from China's Wankai has been reported at USD 950/MT CIF.

Custom Exchange Rate: Effective 18 Nov.'22, GoI has slashed the customs exchange rate to 82.60/USD (-1.20).

Buying Pulse: Due to unsatisfactory PET finished products demand, the converters lowered their raw material purchases, resulting in a gloomy atmosphere in the country’s PET bazaars.
In Mumbai and New Delhi bazaar, the imported basic open bazaar prices were at around Rs 91/Kg and 95/Kg respectively.

Purchase Opinion : Based on the price governing factors and the overall bazaar climate, we advise buyers to keep a close watch on commodity trends. Remarkably, Polymer Procurement is advised for immediate requirements.

Key Highlights of Feedstock- CFR China basis
PTA : : Assessed lower at around USD 775/MT
MEG: Stayed lower at USD 390/MT

China Bazaa: In China, the circulation of a buzz has somewhat brought some life to the plastic raw material bazaars.

The buzz involves the Chinese govt planning to partially ease the existing COVID lockdowns soon (although, we found no dependable evidence of the plan). So, some sections of sellers and buyers have returned to the bazaars in the hope of seeing the resumption of industrial activities, necessitating polymer purchases.
The impact of the recent bazaar activities has been reflected in the PET pricing in the bazaars.

According to our assessment, there was a slight uptick in the spot PET prices to around Yuan 7,100 Yuan/MT.

Indian Bazaar ::  This week, the latest import offer from China's Wankai has been reported at USD 950/MT CIF NS, Mumbai.

Latest Rate Revision : With effect from 11 Nov 2022, RIL announced another round of price reduction of Rs.4/Kg for PET variants. And, the reason cited for the price decrement was to match the global price references.

Open Bazaar : Soft demand for PET based products restricted the converters from indulging in active PET purchases. So, a gloomy atmosphere prevailed in the PET bazaars in the country. In New Delhi, the open bazaar prices for imported variants were at around Rs 95/Kg.

Purchase Opinion: Considering the overall bazaar conditions, and the expected influence of other price-controlling factors- PET procurement is advised for immediate requirements.

Key CFR China Pricing Highlights:

PTA: Remained higher at around USD 870/MT
MEG: Stayed higher at  USD 520/MT

Europe : In the Europe Bazaar, PET converters have preferred imported variants rather than the domestic material—cost advantage cited as the driver. Due to the higher prices of domestic materials, the attractiveness for imported materials has gained momentum. In a conversation with a European PET converter, we came to know that the Asian PET exports were gaining significant ground in the European bazaar. And, the Asia origin PET were available below the € 1400/Mt ( Including Duty) mark.

Asia: Prices have exhibited a downward trend—falling to USD 1030-1040/MT, and USD 1120-1130/MT for N.E.A & S.E.A bazaars, respectively.

China: In China, the poor downstream demand continues to prevail, resulting in the prices staying at lows—around 8,500 Yuan/MT.

India: The latest overseas offers have remained stable at USD 1130-1140/MT CIF Nhava Sheva (for Sept shipment).
Dull trading continues in Indian bazaars. The monsoon season, eroding the demand for beverage and cold drink bottles, has cast its spell on the PET bazaars by the consequential weakening of demand.
Again, the reversal in commodity offers prompted RIL to slash its PET prices by Rs 2/Kg,  effective from 16 Sept.'22.

Mumbai Open Bazaar:  The open bazaar basic prices of imported BG PET were at Rs 100-101/KG + GST Ex-Bhiwandi.

Purchase Opinion: Given the current bazaar scenario, & the expected influence of other price-controlling factors- Polymer buying is advised for immediate requirement.

Key CFR China Pricing Highlights
PTA prices remained lower at around USD 830/MT
MEG prices assessed lower in range of USD 475/MT

Global: Before Powell’s speech began, crude oil prices started falling due to the consequential worry that the European Central Bank may raise the interest rates by 75 basis points in its upcoming meeting scheduled for 8 Sept 2022. And, the worry has negatively impacted the PET bazaars globally.

The latest PET prices have declined to USD 1080-1090/MT, and USD 1160-1200/MT for N.E.A & S.E.A bazaars, respectively.

China: The bearish global outlook and the decline in polyester prices have weakened PET demand further. As a result, PET prices in the major Chinese plastic raw material bazaars have drifted downwards to around 8300 Yuan/ MT.

India : In India, the demand story is similar with those in the key global bazaars. As the off-take of beverage and cold drink bottles weakened due to the ongoing monsoon season, PET demand has softened in the bazaars. Again, the falling international prices also have contributed to the shrinking PET prices.

According to our assessment, the latest overseas offers were lower at USD 1140-1160/MT CIF Nhava ( Sept.'22 Deliveries ).
In line with the commodity trend shifting to a stable track, RIL choose to roll over price with effect from 1 Sept .'22.

Mumbai Open Bazaar:  We have found the open bazaar basic prices of imported BG PET at Rs 105-106/KG + GST Ex-Bhiwandi.

Purchase Opinion: Given the current bazaar scenario, & the expected influence of other price-controlling factors- Polymer buying is advised for immediate requirements.

Key CFR China Pricing Highlights
PTA prices remained higher at around USD 860/MT.
MEG prices assessed lower in range of USD 480-500/MT.

Global: Crude prices began falling prior to Powell’s speech in anticipation of a hawkish tone, supported by additional worry that the European Central Bank could raise rates by 75 basis points at its next meeting on 8 September '22.  The global challenges posed by the energy variant crude Oil & other product prices have impacted the PET bazaars. The recent BG PET prices were assessed lower at USD 1080-1090/MT, and USD 1160-1200/MT for N.E.A & S.E.A bazaars, respectively.

China: In China, PET processors are caught in between two retardants—falling global prices, and lesser off-take of their finished products. As such, they have avoided purchasing PET in excess of their immediate requirement. Therefore, the demand stayed weak in the bazaars of that country. Given the overall conditions, any rise in demand can be ruled out for the near term. And, the prices are along a downward trek, amid tighter availability. According to our sources, PET prices hovered at around about RMB 8960/ MT.

India : In India, the shrinking demand for beverage and cold drink bottles due to the ongoing monsoon season has pulled down PET demand. The dual impact of weaker demand and sliding international prices has softened the prices in India.

The latest overseas offers were reported lower at USD 1150-1160/MT CIF Nhava ( Sept.'22 Deliveries ). Due to the continuously falling global price references, Indian polymer giant RIL has offered a significant price reduction of Rs.5/Kg, with effect from 20 August' 22.

Mumbai Open Bazaar : We have found the open bazaar basic prices of imported BG PET at Rs 105-106/KG + GST Ex-Bhiwandi.

Purchase Opinion: Given the current bazaar scenario, & expected influence of other price controlling factors- Polymer buying is advised for immediate requirements.

Kindly Refer Weekly PDF Report for Historical Data 2021-22 with Graphical Presentation
1.Weekly Feed stock Movement & Historical Data
2.Weekly China PE Spot & Future offers
3. Plant News
4. Overseas offers ( USD/Mt) -Historical Data
5. Open Bazaar Price INR/Kg - Historical Data.
6. VIP Delegations.

Feedstock Scenario PTA prices remained steady at around USD 815/MT CFR China. And, MEG prices slid by USD 10/MT to USD 490-495/MT CFR China.

Global: The uncertainties posed by the decrement of Crude Oil and energy product prices have impacted the PET global bazaars. The recent BG PET prices were assessed lower at USD 1110-1130/MT, and USD 1190-1240/MT for N.E.A & S.E.A bazaars, respectively.

China: The wait and watch policy adopted by Chinese PET processors due to the falling global prices has softened the demand. Again, the lesser off-take of PET end-products also has given no reason to increase their stocks. So, buying PET in excess of their immediate requirements makes no sense. According to our sources, PET prices have slipped to around about 8800 Yuan / MT.

India : 

Global:
In the global bazaars, PET demand has stayed soft due to uncertainties posed by a gradual increase in the key feedstock prices.

According to our assessment, PTA prices underwent an increment of USD 20/MT to USD 855/MT CFR China. And, MEG prices drifted upwards by USD 10/MT to USD 500/MT CFR China.

China
Uncertainty has cast a pale shadow over the PET bazaars in China. In addition to the uncertainty  hovering due to the drop in feedstock prices, sluggish off-take of the finished products kept processors on the back foot
with regards to raw material purchases.  

Due to lesser raw material purchases, weak demand prevailed on that country’s PET bazaars. As a result, the price has declined to around 8980 Yuan/MT.

India
Due to the monsoon season, demand for end-products, like beverage and cold drink bottles, has waned. So, processors have lowered their factory operating rates, the cause behind weak demand in bazaars.

However, the demand is likely to improve in the days ahead due to festive season.

Open Bazaar : We have found the open bazaar prices of imported BG PET at Rs 107-108/KG + GST ex-Ahmedabad.

Purchase Opinion : We advise buyers to purchase on need basis due to the prices in a falling mode. At the same time, we also advise buyers to keep a tight vigil on the price regulating factors because the bazaar trend may take  a U-turn in the days ahead.

     

Global: The demand pattern stayed muted in the plastic raw material bazaars.

Feedstock : CFR China basis PTA assessed lower by $ 30/mt at $ 840/Mt& MEG assessed lower by $ 35/Mt at $ 500/Mt

China: PET processors are finding a difficult time to sell their end-products. So, they lowered their factory operating rates, and curtailed raw material purchases. And, the corresponding impact on bazaars is evident—the demand has come down. Consequently, the prices have come down to around 9050 Yuan/MT.

India:  Indian PET bazaars are undergoing similar situations—lack of adequate sales of end products pushing processors to the back foot in raw material purchases. As a result, PET demand has slowed down.

The inadequacy in the end-product sales has arisen due to the monsoon season being in prevalence. During the season, demand for products, such as beverage and cold drink bottles, slackens.

Open bazaar price Ex Ahmadabad ( Rs./Kg + GST )
Imported BG PET : Rs.108-109//Kg

Purchase Opinion: As the prices are in a southwards journey, we advise buyers to adopt a wait-and-watch policy, and purchase on need basis.

Kindly Refer Weekly PDF Report for Historical Data 2021-22 with Graphical Presentation
1.Weekly Feed stock Movement & Historical Data
2.Weekly China PE Spot & Future offers
3. Plant News
4. Overseas offers ( USD/Mt) -Historical Data
5. Open Bazaar Price INR/Kg - Historical Data.
6. VIP Delegations.

Global: The global sentiments have turned bearish. And, we have mentioned the corresponding reasons in our earlier reports.
Decline in crude oil prices and the apprehension of an economic slowdown are the primary ingredients to the bearish sentiments, responsible for pulling global PET prices down.

China:  In China, the purchases of PET end-products have loosened steam. So, the processors have reduced PET purchases. Again, the worry of an economic slowdown has hit the sentiments of the processors. As a result, the demand for PET has turned sluggish. And, the spot prices in the major Chinese bazaars have dropped to around RMB 8890/MT.

India: Latest overseas offers for BG PET on CIF NS basis were assessed lower in comparison with those last week.

Indian producers have lowered their ex-works PET prices due to the international price downslides.
With the onset of the monsoon season, demand for beverage and cold drink bottles has waned, giving processors no reason to procure the raw material in excess of their immediate requirements.
Therefore, the demand has turned soft in the plastic raw material bazaars in the country.

Custom Exchange Rate: The GoI sets the lifetime high customs exchange rate at INR 80.95/USD, with effect from 22 July 2022. And, its impact on imports can be easily figured out—the landed costs will go up, making imports a costlier option.

Open bazaar price Ex Ahmedabad ( Rs./Kg + GST )
Imported BG PET : Rs.111-112/Kg

Purchase Opinion: Given the current bazaar scenario, & expected influence of other price controlling factors- Polymer buying is advised for immediate requirements.

Kindly Refer Weekly PDF Report for Historical Data 2021-22 with Graphical Presentation
1.Weekly Feed stock Movement & Historical Data
2.Weekly China PE Spot & Future offers
3. Plant News
4. Overseas offers ( USD/Mt) -Historical Data
5. Open Bazaar Price INR/Kg - Historical Data.
6. VIP Delegations.

Global : The prospect of an imminent economic slowdown has cast its impact on the crude oil price movements, triggering downward traversals. According to a study by the Citi Group, oil prices could sink to around USD 45/barrel by 2023 via a collapse to around USD 65/barrel by 2022 end.In addition, the waning demand for plastic end products due to the possibility of a recession has hit the global polymer price benchmarks, pulling them down.  

China :  The fear of an economic recession is reflected in the Chinese PET bazaars. PET processors have lowered raw material purchases due to poor off-take of their end products. The twin impacts of a fear of the recession, and poor end-product sales have rendered sluggish PET demand in the major Chinese bazaars. Consequently, the spot PET prices have moved down to RMB 8250 MT.

India: In parity with the reversal of the global price references, Indian Polymer producers slashed their domestic price by Rs.6/Kg ( Approx.  US$ 76/MT) in their last price revision.
Processors have encountered the twin blows from weakening demand for end-products—beverage and cold drink bottles—in the monsoon season, and falling raw material prices, creating an uncertainty. To deal with the uncertainty, buyers have adopted a wait and watch policy, weaking the bazaar demand, resulting in price falls.

Currency Trend: The INR has depreciated against the USD to record lows, reaching 80 on Thursday. The currency depreciation has turned the bazaar game in favor of the producers. The significantly appreciated USD means the landed costs of imports are higher. And, that is one of the major influencing factors in local price revision calculation. Stated simply, higher landed costs mean higher domestic prices.
Open bazaar price Ex Ahmedabad ( Rs./Kg + GST )
Imported BG PET : Rs.114-115/Kg

Purchase Opinion: Given the current bazaar scenario, & expected influence of other price controlling factors- Polymer buying is advised for immediate requirements.

Kindly Refer Weekly PDF Report for Historical Data 2021-22 with Graphical Presentation.
1.Weekly Feed stock Movement & Historical Data
2.Weekly China PE Spot & Future offers 
3. Plant News
4. Overseas offers ( USD/Mt) -Historical Data
5. Open Bazaar Price INR/Kg - Historical Data.
6. VIP Delegations.

Global Trend
The apprehensions of an imminent economic slowdown (we already covered in detail), and the fall in crude prices made PET processors extra cautious in their raw material procurements. As such, weak demand prevailed in the major global bazaars. However, there is also an expectation of the revival of demand in the near future.

China Bazaar : The BG PET price for China is assessed as stable at RMB 8,750/Mt.

India Bazaar
In India, demand for finished products—mostly cold drink and beverage bottles—has become low due to the seasonal effect. So, PET demand has become lower.

Again, the news of the rising customs exchange rate, and the INR weakening to lifetime low of 79 against the USD imparted a more bearish sentiment among converters.

For July 2022 shipments, overseas offers were quoted lower. And, the domestic companies lowered their prices by Rs 5/Kg with effect from 1 July 2022.Company also discontinue Price Protection in addition to Price cut.

However, there was no indication of any impact of the implementation of the SUP ban from 1 July 2022. However, monsoon is likely to play a spoilsport by slowing down the demand. Processors were running factories with low inventories, and had been waiting for the price to settle at any levels.

During the week, imported PET was offered in range of Rs 118-119/Kg+GST Ex Ahmedabad

Purchase Opinion: Given the dynamics prevailing in the bazaars, buyers are advised not to purchase in excess of their immediate requirements.

In China, the key raw materials for PET production became cheaper. As a result, the user industries have postponed their procurements in the prospect of PET prices going down further. According to our assessment, we expect that the PET prices will fall further in Chinese bazaars. In Chinese bazaars, PET was sold at around 9,570 Yuan/MT(incl tax).

Global Trend: Assessed as firm.

Latest International Offers (CIF NS, Mumbai):  This week, overseas offers of BG PET with 0.8 IV  & 0.89 IV were  assessed higher at USD1370/MT & USD 1380/MT respectively.

Latest Rate Revision: WEF June 9, '22 - RIL increased PET price by Rs.4/Kg

Custom Exchange Rate Factor: The Indian Finance Ministry has revised the Customs Exchange Rate to INR 78.95(+0.45) for imports with effect from 17 June 2022 from the preceding rate. As a result, the landed costs of imports will go up.

Buying Pulse: The active manufacturing of cold drinks and beverage bottles has necessitated active PET purchases by the bottle manufacturers. So, PET sellers are seeing strong demand for the raw material.  

*Below are deals of BG PET concluded during this week. (Ex Ahmedabad, Excl. GST)
Indian Make : Rs.124-125/Kg
Imported BG PET :Rs.122-123/Kg

Purchase Opinion: Looking at the current scenario & status of other price influencing factors PET buying is advised at the current levels.

Global Trend: Assessed as stable.

Indian Bazaar

Global Trend: Assessed as stable.

Latest Int'l. offers for CIF NS, Mumbai:  This week , overseas offers of BG  PET with 0.8 IV  & 0.89 IV assessed stable at US$ 1360/Mt & US$ 1380/Mt respectively.

Custom Exchange Rate: Custom Exchange Rate ($-INR) for imports was revised to Rs.78.60
( +1.55 ) w.e.f  May 20 '22, 2022, from the previous Rs 77.05 on May 6, 2022.

Buying Pulse: In the plastic raw material bazaars, PET sellers are enjoying good time. And, it is due to the vigorous manufacturing of cold drink, beverage and water bottles, which attract heavy PET demand during the summer season.

Due to the manufacturing needs, PET purchases are going on in full-swing in the bazaars. Moreover, the best for the sellers is yet to come. The purchases are going to increase further in the next few days due to further spurt in the manufacturing activities.

Purchase Opinion : Looking at the current scenario & status of other price influencing factors PET buying is advised at the current levels.

Below are deals of BG PET concluded during this week. (Ex Ahmedabad, Excl. GST)

Global Trend: Assessed as stable.

Latest Int'l. offers for CIF NS, Mumbai:  This week , overseas offers of BG  PET with 0.8 IV  & 0.89 IV assessed stable at US$ 1360/Mt & US$ 1380/Mt respectively.

Latest Rate Revision: WEF May 1, 22, RIL kept price unchanged.

Custom Exchange Rate : ($-INR) for imports was revised to Rs.77.05  ( -0.10 ) w.e.f  May 6 '22, 2022, from the previous Rs 77.15 on April 22, 2022.

Buying Pulse: Escalating PET consumption in manufacturing cold drink and beverage bottles in the summer season has created a PET buying spree among the bottle manufacturers. Therefore, PET sellers are garnering handsome profits from the increased sales.

Notably, the full buying spree has not yet occurred in the plastic raw material bazaars in India. Given, the bottle manufacturing volumes, PET buying is expected to gain full momentum in the next few days.

Purchase Opinion : Looking at the current scenario & status of other price influencing factors PET buying is advised at the current levels.

Feed stock:
PTA CFR China ( $/MT)
Monday Opening (02/05/22): 950
Friday Closing (06/05/22): 925
Week on Week Difference : Down by 25

MEG CFR China ( $/MT)
Monday Opening (02/05/22): 650
Friday Closing (06/05/22): 645
Week on Week Difference : Down by 5

China Bazaar:
PET Spot Bazaar offers( RMB/MT)
Monday Opening (02/05/22): 8390
Friday Closing (06/05/22): 8620
Week On Week Difference : Up by 230

Bazaar Watch
Global Trend: Assessed as stable.

Latest Int'l. offers for CIF NS, Mumbai: For May '22 shipments, overseas offers of BG  PET with 0.8 IV  & 0.89 IV assessed stable at US$ 1360/Mt & US$ 1380/Mt respectively.

Latest Rate Revision: WEF May '22, RIL kept price unchanged.

Custom Exchange Rate : ($-INR) for imports was revised to Rs.77.05  ( -0.10 ) w.e.f  May 6 '22, 2022, from the previous Rs 77.15 on April 22, 2022.

Buying Pulse:
The PET bazaar in India is gradually gaining strength. And, the summer season can be attributed for the resurgence of buying activity.

Already, the demand for beverage and cold drink bottles has been increasing. So, the bottle manufacturers are now left with no other option but to procure PET to cater to their manufacturing needs.

Despite the resumption of buying, the full-fledged procurement is yet to come. We expect further strengthening of buying in the next few days.

Purchase Opinion : Looking to current scenario & status of other price influencing factor, Polymer buying is advised at current levels

Buying Pulse:
The slippage of PTA and MEG prices this week in the international bazaars have put Indian PET buyers on a cautious mode. In response, they have lowered their PET purchases, and have been waiting for the PET prices to undergo price correction.

As a results, Indian PET sellers experienced subdued demand. A trader told our editorial team that there are plenty of PET stocks with traders. In a communication with a local trader in an Indian bazaar, we got to know that the international export PET BG offers were quoted lower at USD 1360-1370/MT on FOB basis.With the approach of summer , off-takes of beverage, cold drinks, and water bottles will witness volumetric  offtake, so the bottle manufacturing will increase substantially in the coming days. As a result, PET purchases will intensify further more.  

Purchase Opinion:
Considering above scenario with emerging equations of other price governing elements, we predict the commodity heading towards softer note. Keeping trend drivers & other influencing factors in equation, we advise to step in to procurement for routine requirement.
We have already broadcasted the expected revised rates in our price prediction alerts. So, subscribers are requested to go through the predictions once again

Feed stock: 
PTA CFR China ( $/MT)
Monday Opening (18/04/22): 935
Friday Closing (22/04/22): 950
Week on Week Difference : Up by 15

MEG CFR China ( $/MT)
Monday Opening (18/04/22): 660
Friday Closing (22/04/22): 675
Week on Week Difference : Up by 15

China Bazaar:
PET Spot Bazaar offers( RMB/MT)
Monday Opening (18/04/22): 8460
Friday Closing (22/04/22): 8450
Week On Week Difference : Down by 10

Bazaar Watch
Global Trend: Assessed as stable.

Latest Int'l. offers for CIF NS, Mumbai: For April '22 shipments, overseas offers of BG  PET with 0.8 IV  & 0.89 IV assessed stable at US$ 1410/Mt & US$ 1420/Mt respectively.

Latest Rate Revision: WEF 1st April '22, RIL kept price unchanged.

Custom Exchange Rate : Custom Exchange Rate ($-INR) for imports was revised to Rs.77.15 (+0.35 ) w.e.f April 22 , 2022, from the previous Rs 76.80 on April 8, 2022.

Buying Pulse: PET buyers in the entire Asian region has become cautious due to the prospect of price slides.

The falling crude oil prices have created an impression that the prices of downstream products will eventually fall. So buyers have postponed their bulk purchases.

PET producers have lowered their prices to entice buyers. As a result, PET prices have declined by USD 30--40/Mt on CIF SEA basis.

In a communication with a local trader in the China bazaar, we got to know that export PET BG offers were quoted lower at USD 1190-1220 per MT on FOB basis.

In India, PET bazaars were with a dull atmosphere.

A trader told our editorial team that there are plenty of PET stocks with traders but buying is subdued.

When asked about the underlying reason, he said that most buyers have postponed buying and waiting for significant drop in the prices due to the falling crude oil prices.

Click to Download PDF with historical Data :

Feed stock:
PTA CFR China ( $/MT)
Monday Opening (21/03/22): 910
Friday Closing (25/03/22): 960
Week on Week Difference : Up by 50

MEG CFR China ( $/MT)
Monday Opening (21/03/22): 700
Friday Closing (25/03/22): 695
Week on Week Difference : Down by 5

China Bazaar:
PET Spot Bazaar offers( RMB/MT)
Monday Opening (21/03/22): 8490
Friday Closing (25/03/22): 8500
Week On Week Difference : Up by 10

Bazaar Watch
Global Trend: Assessed as firm.

Latest Int'l. offers for CIF NS, Mumbai: For April '22 shipments, overseas offers of BG  PET of 0.8 IV  & 0.89 IV assessed higher at US$ 1440/Mt & US$ 1450/Mt respectively.

Latest Rate Revision: WEF 10 March '22, RIL increased PET price by Rs.7/Kg.

Custom Exchange Rate ($-INR) for imports was revised to Rs.76.90 (+0.25 ) w.e.f March 18, 2022, from the previous Rs 76.65 on March 4, 2022.

Buying Pulse: At local front, BG PET Processors have opted for routine purchase though international offers confirms firmer trend. Demand of PET is likely to scale up further as seasonal offtake of cold drinks, beverages & other products will support buying sentiments.

The magnitude of uncertainty & supply constraints will intensify further more  on a/c of  recent attack on S. Aramco's Oil facility in addition to the ongoing Russia-Ukraine war. In addition to this odd, the commencement of Ramadan from April'22 may cause supply chain disruption from Muslim countries.

Below are deals of BG PET concluded during this week. (Ex Ahmedabad, Excl. GST)
Indian Make : Rs.121-123/Kg
Imported BG PET :Rs. 120-121/Kg

Purchase Opinion: Taking into account the possible influence of the recent developments & we predict firmer trend of the PET grades. Under the influence of above possible scenarios, Indian processors are likely to experience tight product availability in the region.

If Crude & other energy variants continue to remain bullish, the cost of commodity production will be higher. As a result, there is a possibility of the global price reference escalation, which will allow  Indian Polymer producers to increase price from April 1, 2022. We will issue Prediction in due course of time.

Click to Download PDF with historical Data :

Feed stock:
PTA CFR China ( $/MT)
Monday Opening (14/03/22): 925
Friday Closing (18/03/22): 910
Week on Week Difference : Down by 15

MEG CFR China ( $/MT)
Monday Opening (14/03/22): 715
Friday Closing (18/03/22): 700
Week on Week Difference : Down by 15

China Bazaar:
PET Spot Bazaar offers( RMB/MT)
Monday Opening (14/03/22): 8750
Friday Closing (18/03/22): 8320
Week On Week Difference : Down by 430

Bazaar Watch
Global Trend: Assessed as firm.

Latest Int'l. offers for CIF NS, Mumbai: For April '22 shipments, overseas offers of BG  PET of 0.8 IV  & 0.89 IV assessed higher at US$ 1440/Mt & US$ 1450/Mt respectively.

Latest Rate Revision: WEF 10 March '22, RIL increased PET price by Rs.7/Kg.

Custom Exchange Rate ($-INR) for imports was revised to Rs.76.90 (+0.25 ) w.e.f March 18, 2022, from the previous Rs 76.65 on March 4, 2022.

Buying Pulse: This week, the buying appetite remained poor with the adoption of a cautious approach by processors as a result of high prices.  On a/c festive season of "Holi", industry observed partial closure during closing week days.

Summer based seasonal demand is expected to pick up which will lead PET producers to focus on procurements. However, PET processors are willing to avail more lucrative offers from the current levels.

Below are deals of BG PET concluded during this week. (Ex Ahmedabad, Excl. GST)
Indian Make : Rs.122-124/Kg
Imported BG PET :Rs. 120-121/Kg

Purchase Opinion:Considering the ongoing scenario & keeping prevailing uncertainties as a price directives, we advise for stepping in polymer procurement at company price.

Feed stock: 

Click to Download PDF with historical Data :

Feed stock:
PTA CFR China ( $/MT)
Monday Opening (31/01/22): 780
Friday Closing ( 04/02/22): 800
Week on Week Difference : Up by 20

MEG CFR China ( $/MT)
Monday Openig (31/01/22): 710
Friday Closing (04/02/22): 715
Week on Week Difference : Up by 15

China Bazaar:
PET Spot Bazaar offers( RMB/MT)
Monday Opening (31/01/22): 8050
Friday Closing (04/02/22): 8050
Week On Week Difference : Stable

Bazaar Watch

Global Trend: Assessed as firm.

Latest Int'l. offers for CIF NS, Mumbai: Overseas offers of BG  PET of 0.8 IV  & 0.89 IV assessed higher at US$ 1300/Mt & US$ 1320/Mt respectively.

Latest Rate Revision: WEF 1st Feb.'22, RIL increased PET price by Rs.2/Kg

Latest Custom exchange rate: Custom Exchange rate ($-INR) for imports was revised to Rs.75.75 (+0.55 ) wef February 4th, 2022, from the previous 75.30  on Jan.21st, 2022.

Buying Pulse: At domestic front, regional demand remained encourging on positive note.Incline in energy & feedstock values will trigger another increment in commodity.

Below are deals of 0.80 & 0.84 IV concluded during this week. (Ex Ahmedabad, Excl. GST)
Indian Make : Rs.107/Kg
Imported BG PET :Rs. 106-106.5/Kg

Purchase Opinion:In view of above outlook & expected effect of other price deciding drivers, Polymer buying is advised at current levels. 

Feed stock:
PTA CFR China ( $/MT)
Monday Opening (17/01/22): 745
Friday Closing ( 21/01/22): 760
Week on Week Difference : Up by 15

MEG CFR China ( $/MT)
Monday Openig (17/01/22): 685
Friday Closing (21/01/22): 690
Week on Week Difference : Up by 5

China Bazaar:
PET Spot Bazaar offers( RMB/MT)
Monday Opening (17/01/22): 8000
Friday Closing (21/01/22): 8160
Week On Week Difference : Up by 160

Bazaar Watch
Global Trend: Assessed as firm.

Latest Int'l. offers for CIF NS, Mumbai: Overseas offers of BG  PET of 0.8 IV  & 0.89 IV assessed higher at US$ 1290/Mt & US$ 1300/Mt respectively.

Latest Rate Revision: WEF 16th Jan.'22, RIL increased PET price by Rs.1.5/Kg

Latest Custom exchange rate: Custom Exchange rate ($-INR) for imports was revised to Rs.75.30 (-0.10 ) wef  January 21, 2022, from the previous 75.40  on Jan.7th, 2022.

Buying Pulse: This week, demand cycle observed under improvement on positive note. In line with global price reference- commodity is heading upward direction. Local producers may come with another price rise in days ahead.

Below are deals of 0.80 & 0.84 IV concluded during this week. (Ex Ahmedabad, Excl. GST)
Indian Make : Rs.102.5/Kg
Imported BG PET :Rs. 100-101.5/Kg

Purchase Opinion: Considering current scenario & influence of other price controlling factors, Polymer procurement is suggested at current levels.

Feed stock:
PTA CFR China ( $/MT)
Monday Opening (03/01/22): 700
Friday Closing ( 07/01/22): 715
Week on Week Difference : Up by 15

MEG CFR China ( $/MT)
Monday Openig (03/01/22): 620
Friday Closing (07/01/22): 645
Week on Week Difference : Up by 25

China Bazaar:
PET Spot Bazaar offers( RMB/MT)
Monday Opening (03/01/22): 7900
Friday Closing (07/01/22): 7800
Week On Week Difference : Down by 100