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PET : Weekly Report & Future Trend- Week 3rd November 2019.


🔹 Crude Oil Scenario:On Friday, Brent Crude closed higher by 1.64% at $ 63.30/bbl while WTI closed higher 1.67% at $ 57.72/bbl.Crude oil was supported by “growing optimism that ‘phase one’ of the trade deal with China is in the works and could be reached soon,” as confirmed by U.S. Commerce Secretary Wilbur Ross, who said Friday that the negotiations are now down to the last details.International Energy Agency, in its monthly report, raised its forecast for oil output growth for countries outside of the Organization of the Petroleum Exporting Countries. The IEA said it expects non-OPEC supply growth to rise to 2.3 million barrels a day next year, up from its previous estimate of 2.2 million barrels a day, with the set to continue leading the way.
🔷 China Bazaar : 

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 11/11/19 ) : 6587
✅Friday Closing ( 15/11/19 ) :6525
✅Week On Week Difference : Down 0.95% 

🔷Indian Bazaar : 
The buying sentiments are much poor  & buyers are following Wait & Watch Policy .This week , Indian companies opt for no change for local bazaar.After reviewing ongoing scenario & other price controlling factors -buying is suggested.

PET : Weekly Report & Future Trend- Week 2nd November 2019.

🔹 Crude Oil Scenario:On Friday, Brent Crude closed higher by 0.35% at $ 62.51/bbl while WTI closed higher 0.16% at $ 57.24/bbl. U.S. prices settling at a fresh six-week high, as traders gauged expectations for energy demand against conflicting news tied to China-U.S. trade talks.On Friday, President Donald Trump told reporters that he hasn’t yet agreed to remove tariffs on Chinese goods. On top of that, recent inventory reports indicate that supplies are rising faster than uptake.
🔷 China Bazaar : 

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 4/11/19 ) : 6562
✅Friday Closing ( 8/11/19 ) :6687
✅Week On Week Difference : Up 1.90% 

🔷Indian Bazaar : 
This week , Indian companies kept PET price rolled over,however international offers for bottle grade PET were assessed lower in comparison with last week.At Polymer Bazaar , we expect to see stable price for next week. Based on current scenario , Polymer buying is suggested for routine requirements.

👉 Click Here to Download PDF Report with historical Data 
PET : Weekly Report & Future Trend- Week 1st November 2019.

🔹 Crude Oil Scenario:On Friday, Brent crude closed higher by 3.47% at $ 61.69/bbl, while WTI closed higher by 3.73% at $ 56.20/bbl,  on signs of progress in U.S.-China trade talks and stronger-than-expected economic data in both countries, including U.S. employment and Chinese manufacturing activity numbers. But the move higher was not enough to recover losses earlier in the week and oil ended the week lower. President Donald Trump and U.S. negotiators are “very optimistic” on a trade deal with China, White House adviser Larry Kudlow said on Friday.

🔷 China Bazaar : 

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 28/10/19 ) : 6787
✅Friday Closing ( 01/11/19 ) :6562
✅Week On Week Difference : Down 3.31% 

🔷Indian Bazaar : 
This week, Industry witnessed latest offers for bottle grade PET for CIF NS at US $ 860/MT with decrement of US $ 30/MT for Nov.2019 shipments. Mentioned reduction created room for price cut for domestic bazaar & Indian companies forced to slash price by Rs.2.5/kg wef 1st Nov.2019.

Convertors are back to desk upon completion of New Year holidays & expecting to see improvements in finished products. Buyers are following wait & watch policy with an approach of maintaining inventories at low levels. Current scenario & other price governing factors guides to opt for Need base buying.

PET : Weekly Report & Future Trend- Last Week October 2019.


🔹 Crude Oil Scenario: On Friday, Brent Crude closed higher 0.57% at $ 62.02/bbl, while WTI closed higher 0.76% at $ 56.66/bbl. The strong weekly rise was underpinned by the surprise decline in US inventories, with total US crude and oil product inventories dropping by about 10 million barrels last week. OPEC+ said extended supply curbs are an option to offset the weaker demand outlook in 2020.

🔷 China Bazaar : 

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 21/10/19 ) : 6875
✅Friday Closing ( 25/10/19 ) :6775
✅Week On Week Difference : Down 1.45% 

🔷Indian Bazaar : 
Latest offers for bottle grade PET offers for CIF NS,are assessed in range of US $860-870 /MT. Demand graph is moving downward with cautious buying action of processors. Indian industry has already entered in mood of celebration of Indian Traditional New Year - ' Diwali' commencing from 27 th Oct.19. Bazaar will witness limited movements on account of mini vacation of 4-5 days & will back to desk from Next week.
Indian Government also banned import of pet flakes made from used PET bottles.


At this stage , after referring current global scenario & other factors which controls price - we are of the opinion to opt for routine procurements only.

PET : Weekly Report & Future Trend- Week 3rd October 2019.


🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed higher by 2.39% at $60.51/bbl, while WTI closed higher 2.15% at $ 54.70/bbl, a weekly gain of nearly 4%. Progress in U.S.-China trade negotiations eased worries about energy demand, and news of an explosion on an Iranian tanker fed tensions in the Middle East, raising the potential for crude-output disruptions in the region are big factors for the rise. The EIA on Wednesday reported that U.S. crude supplies climbed for a fourth week in a row, by 2.9 million barrels for the week ended 4th Oct.19.

🔷 China Bazaar : 

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 7/10/19 ) : 7012
✅Friday Closing ( 11/10/19 ) :7037
✅Week On Week Difference : Up 0.36% 

🔷Indian Bazaar : 
 Latest offers for bottle grade PET offers for CIF NS,are assessed in range of US $880-890 /MT. Demand graph is moving downward with cautious buying action of processors. Indian government is under process of initiation on Anti-Dumping Investigation concerning imports of PET originating or exporting from China on 1st October 2019.


The burning issue of industry was uncertainty of implementation of 'Single Use Plastic- SUP' ban from 2nd Oct.2019.Ongoing general economy recession has impacted the end product demand in turn lead processors to procure raw materials  more cautiously with minimum inventories levels.However 'SUP' ban isn't implemented by Indian Govt.Trend is shifting to stability & we expect to witness roll over for next week.Based on current scenario , Polymer buying is advisable for routine consumption.

PET bottles are in center of notice & under watch by ministry -in order to address plastic waste recycling.

PET : Weekly Report & Future Trend- Week 2nd October 2019.

🔹 Crude Oil Scenario: On Friday, Brent Crude closed higher by 1.14% at $ 58.37/bbl while WTI closed higher by 0.69% at 52.81/bbl. Brent futures fell 5.7% for the week, its biggest weekly drop since July. WTI lost 5.5% for the week, also its steepest fall since July. Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, said Thursday the world’s top crude oil exporter had fully restored oil output after attacks on its facilities last month knocked out more than 5% of global oil supply.

🔷 China Bazaar : 
China bazaar will remain close from 1st - 7th October 2019 due to National Holidays.

🔷Purchase Opinion : 
China based refiner has decreased offers PET bottle grade by $20/mt at $ 880-890/mt for October 19 shipments CIF Nhava Sheva basis. Domestic demand is poor with need base buying approach from converters due to upcoming festival season.

Crude oil prices settled down after time being increment and most Saudi Petrochemical plants announced a return to routine production rates by September end.Supplies were still affected as most of Saudi based polymer producers declared shipments delay for October 2019.

Looking to current scenario & other price governing factors - Need base buying is advisable.

PET : Weekly Report & Future Trend- Week 1st October 2019.

🔹 Crude Oil Scenario:In this week Brent fell 3.7%, posts biggest weekly loss since early August, while WTI lost 3.6%, its steepest loss since mid-July. Oil prices fell on Friday and posted a weekly loss on a faster-than-expected recovery in Saudi output, while investors also worried about global crude demand amid slowing Chinese economic growth.

🔷 China Bazaar :
🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 23/9/19 ) : 7175
✅Friday Closing ( 27/9/19 ) :7062
✅Week On Week Difference : Down 1.57% 

🔷Purchase Opinion :  ARAMCO -Saudi Arabia has restored its oil production capacity to 11.3 million BPD. Sources further briefed on Aramco’s operations - maintaining a faster than expected recovery after the drone attack on 14 September 2019 on its oil facilities. 
In reference with current global scenario , upcoming festive season & other price governing factors -polymer buying is suggested.

PET : Weekly Report & Future Trend- Week 4th September 2019.


🔹 Crude Oil Scenario:On Friday,Brent Crude oil closed lower by 0.19% at $ 64.28/bbl while WTI closed lower by 0.07% at $ 58.09/bbl. Crude  registered a sharp gain for the week, their largest in months, after attacks on Saudi Arabian production facilities last weekend raised concerns over the amount of spare capacity in the oil market. In the United States, meanwhile, flooding from Tropical Storm Imelda forced a major refinery to cut production, while a key oil pipeline, terminals and a ship channel in Texas were shut, according to sources familiar with operations.

🔷 China Bazaar :
🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 16/9/19 ) : 7187
✅Friday Closing ( 20/9/19 ) :7200
✅Week On Week Difference : Up 0.17% 

🔷 Indian Bazaar scenario: Looking to current changing scenario ,Geological unrest ,Upcoming festive season & other price governing factors -Polymer Buying is suggested .

PET : Weekly Report & Future Trend- Week 3rd September 2019.


🔹 Crude Oil Scenario: On Friday, Brent Crude oil closed lower by 0.26% at $ 60.22/bbl, while WTI closed lower by 0.44% at $ 54.85/bbl. OPEC and its partners will not deepen their oil production cut yet but will discuss the topic again in December. EIA forecast average demand growth this year would be 1.1 million bpd, unchanged from its earlier monthly estimate, and in 2020, it would accelerate to 1.3 million bpd.U.S. shale, production growth is imminent in Norway and Brazil as well.

🔷 China Bazaar :  The global bazaar scenario is badly effected  with  an influence of the ongoing trade war between the US and China.The recent enforcement  of tariffs imposed by both countries has resulted in falling commodity prices. 

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 9/9/19 ) : 7125
✅Friday Closing ( 13/9/19 ) :7075
✅Week On Week Difference : Down 0.70% 

🔷 Indian Bazaar scenario: The buying pulse is much disappointing -with lackluster demand.International offers for CIF NS for Oct.2019-assessed lower in comparison with last week. Processors are following ' Wait & Watch' action & not willing to carry any extra inventories. Continuous falling price has made buyers to loose buying confidence & exercising cautious steps.

PET bottles are in center of notice & under watch by ministry -in order to address plastic waste recycling.Current burning issue of industry is -an announcement made by Govt. to strictly ban usage of 'Single Use Plastic- (SUP) '.Processors are waiting for the clarity & definition along with products falling under head of 'SUP' , & guidelines to be followed.
Current scenario of uncertainty of industry is like being hit in dark - with out any alternative / preparation -which is creating further turmoil among processors. Domestic Prices are also forced to feel the impact of ongoing industry worry in addition to lackluster demand in finished products. 

Considering current scenario & other price governing factors ,Need base buying is advisable.

PET : Weekly Report- 4th  Week August 2019.


🔹 Crude Oil Scenario:On Friday, Brent Crude Oil closed lower by 0.97% at $ 59.34/bbl, while WTI closed lower by 2.13% at 54.17/bbl. Yesterday  China proposed clamping a 5% tariff on $75 billion in U.S. goods including oil for the first time in response to President Donald Trump's plan to impose 10% tariffs on Chinese-made consumer goods on Sept. 1 and Dec. 15.

🔷 China Bazaar : On Friday, Chinese Government  proposed clamping a 5% tariff on $75 billion in U.S. goods including oil for the first time in response to President Donald Trump's plan to impose 10% tariffs on Chinese-made consumer goods on Sept. 1 and Dec. 15. The devaluation of the yuan is the main factor behind the dull demand.

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 19/8/19 ) : 7150
✅Friday Closing ( 23/8/19 ) :7100
✅Week On Week Difference : Down 0.70% 


PET : Weekly Report- 3rd  Week August 2019.


🔹 Crude Oil Scenario: On Friday, Brent Crude oil closed higher by 0.70% at $ 58.64/bbl, WTI closed higher by 0.73% at $ 54.87/bbl. Front-month WTI futures scored a 0.7% weekly rise, while Brent edged up by 0.2% from the week-ago finish. A Saudi official indicated this month that more steps may be coming, saying Saudi Arabia was committed to do “whatever it takes” to keep the market balanced next year.

🔷 China Bazaar :China has continued import of Crude oil from Iran in July'19. After a completion of extension of second month of U.S. sanctions waiver ended,China still continued import crude from Iran in July'19. Senior Trump administration officials estimate that 50-70% of Iran’s oil exports are flowing to China, while roughly 30% go to Syria. China is typically Iran’s largest oil customer and contests Washington’s sanctions.Last Week- Typhoon “Lekima” landed on the coast of Qingdao, Shandong on 11st August 2019.The typhoon brought strong winds & heavy rainfall, which caused serious damage to infrastructure, public buildings & grain fields.

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 12/8/19 ) : 7062
✅Friday Closing ( 16/8/19 ) :7154
✅Week On Week Difference : Up 1.24% 

🔷 Indian Bazaar scenario:
This week Indian PET mfgrs. kept PET prices unchanged and withdrawn price protection scheme due to weak Indian Rupee against USD. Dull buying sentiments & lower International offers has  kept buyers with wait & watch mindset. Looking to current scenario & upcoming festive season - Buying is suggested.
PET : Weekly Report- 2nd  Week August 2019.

🔹 Crude Oil Scenario:On Friday,Brent crude closed higher by 2% at $ 58.53/bbl, while WTI closed higher 3.73% at $ 54.50/bbl. Both crude benchmarks plummeted by more than 7% last Thursday to their lowest level in about seven weeks after Trump’s announcement. China let the yuan tumble beyond the 7-per-dollar level for the first time in more than a decade. Iran will no longer tolerate “maritime offences” in the Strait of Hormuz, its foreign minister said on Monday.

🔷 China Bazaar :The US-China trade war continues to accelerate. America has put 25% tariffs on $250 billion worth of Chinese imports, and is slated to add an additional 10% tariff on the remaining $300 billion. China currently collects tariffs between 5% and 50% on about $113 billion of US imports. Some worry about the long-term negative effects the trade war could have on the global economy, but in the short term, the bi-lateral tariff fight has brought benefits to many other countries.

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 5/8/19 ) : 7275
✅Friday Closing ( 9/8/19 ) :7062
✅Week On Week Difference : Down 2.92% 

🔷 Indian Bazaar scenario:
This week, International offers of PET for Indian ports assessed stable for Sept.19 shipments. Recent appreciation of USD against INR,limited availability of Imports & upcoming festive season will allow local producers to offer price rise in days ahead. Considering current bazaar scenario & price deciding factors-Polymer buying is advisable.
PET : Weekly Report- 1st  Week August 2019.


🔹 Crude Oil Scenario:On Friday, Brent crude closed higher by 2.30% at $ 61.89/bbl, while WTI closed higher by 3.17% at 55.66/bbl. A plunge that saw the U.S. benchmark suffer its biggest one-day fall in more than four years after President Donald Trump moved to impose additional import tariffs on Chinese goods will effecting from 1st September 2019.U.S.-China trade war developments have roiled markets for more than a year, and there have been signs the rafts of additional tariffs from both sides are having real effects on economies around the world.

🔷 China Bazaar : Amid ongoing Trade war -China slipped to 3rd TOP Trading partner to USA, after Mexico & Canada. This Thursday ,Trump announced  that he would impose a 10% tariff on a further $300 billion in Chinese imports, a move set to hit American consumers more directly than his other tariffs so far. The new import taxes, which Trump later said could go “well beyond” 25%, will be imposed beginning Sept. 1 on a long list of goods expected to include smart-phones, laptop computers and children’s clothing. As a result of ongoing trade war of US & China, China is no longer the top trading partner of the United States and has been replaced by USA's neighbours Mexico and Canada,

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 29/7/19 ) : 7387
✅Friday Closing ( 2/8/19 ) :7337
✅Week On Week Difference : Down 0.68% 

🔷 Indian Bazaar scenario:
For Aug.19 shipments ,International Offer for Bottle grade PET assessed down at 1015-1025 USD /MT. Global downward reflected in latest price reduction of Rs.3/kg wef 1st Aug.19.

Buying sentiments are much slow & convertors are exercising Need base procurements.With an anticipation of further price cut ,processors are not willing to book extra stock. Keeping all price deciding factors in calculation ,current scenario guides to opt for 'Wait & Watch' policy.
PET : Weekly Report- Last Week July 2019.

🔹 Crude Oil Scenario:On Friday, Brent Crude oil closed higher by 0.11% at $ 63.46/bbl (fell 6% last week) while WTI closed higher by 0.32% at $ 56.20/bbl( fell 7.5% last week). Tensions remained high around the Strait of Hormuz, the world's single most important oil passageway, as Iran refused to release a British-flagged tanker it seized last week in the Gulf.The slowdown in global manufacturing and trade, and the associated hit to oil consumption.

🔷 China Bazaar : At local DCE , Spot deals of PET concluded with major decrements  of 7.08% in comparison with last week at 7387 RMB/Mt. Lackluster demand may lead to major price correction in days ahead.

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 22/7/19 ) : 7950
✅Friday Closing ( 26/7/19 ) :7387
✅Week On Week Difference : Down 7.08% 

🔷 Indian Bazaar scenario:
The International offers for CIF NS- assessed down by $30-40/mt in range of USD 985-995/Mt ( On week on week basis) for August 2019 shipments.
Buying sentiments are much poor & processors has adopted ' Wait & Watch ' Stance. Converters are not ready to carry any extra inventories .To boost buying confidence Indian Producer has came up with an announcement Price Protection scheme.Clubbing all factors in equation Need base buying is suggested.

👉 Click Here to Download PDF Report with historical Data :  https://tinyurl.com/PETLASTWEEKJULY2019
▶Weekly Report & Future Trend: PET - Week 4th July 2019.

🔹 Crude Oil Scenario:On Friday, Brent Crude closed higher by 0.87% at $ 62.47/bbl, while WTI closed higher by 0.60% at $ 55.63/bbl.The International Energy Agency (IEA) does not expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets, the IEA's Fatih Birol said on Friday in public comments. In the latest sign of increasing tensions in the Middle East, a senior Trump administration official said on Friday the United States will destroy any Iranian drones that fly too close to its ships.

🔷 China Bazaar :Trump: U.S. had 'very good talk' with China; in-person talks may follow.
This week , U.S. President Donald Trump said on that U.S. Treasury Secretary Steve Mnuchin had a very good talk with his Chinese counterpart, amid signals from China that officials could soon meet face-to-face in their bid to end a yearlong trade war.Officials from the world’s two largest economies spoke by phone on Thursday & Treasury Secretary Steven Mnuchin said in-person talks could follow.
“Secretary Mnuchin did have a call with the Chinese counterpart. They had a very good talk,” Trump told reporters at the White House, suggesting that China’s worst economic output data in nearly three decades could propel trade talks forward.

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 15/7/19 ) : 8255
✅Friday Closing ( 19/7/19 ) :8025
✅Week On Week Difference : Down 2.13% 

🔷 Indian Bazaar scenario:
 International offers for CIF NS assessed almost stable,while buying interest at domestic front is of need base.Considering all price governing factors ,Polymer purchase is advisable.

👉 Click Here to Download PDF Report with historical Data 
▶Weekly Report & Future Trend: PET - Week 3rd July 2019.

🔹 Crude Oil Scenario: On Friday, Brent crude closed higher by 0.30% at $ 66.72/bbl , while WTI Closed higher by 0.02% at $ 60.21/bbl. Oil prices held at a seven-week high on Thursday as storm worries in the Gulf of Mexico and heightened tensions in the Middle East.  OPEC forecast global oil demand to rise by 1.14 million barrels per day (bpd) next year, matching the projection for 2019. U.S. oil producers on Wednesday cut nearly a third of Gulf of Mexico crude output ahead of what could be one of the first major storms of the Atlantic hurricane season.

🔷 China Bazaar :The US may have to look for alternative destinations to China while China is planning to bring more PP and PE capacities online by the end of this year, which may eventually cut the buying appetite for imports. Pl. note last week ,USA pause trade war with talks 'back on track' During G 20  meeting , U.S. President Donald Trump & Chinese President Xi Jinping agreed to proceed with negotiations after a series of escalations to their nations’ trade war threatened to disrupt the world economy. Both leaders agreed to hold off on new tariffs.

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 8/7/19 ) : 8255
✅Friday Closing ( 12/7/19 ) :8025
✅Week On Week Difference : Down 2.13% 

🔷 Indian Bazaar scenario:
 International offers for CIF NS is assessed increased from previous levels.Supported by local demand & other price deciding factors ,we forecast to see further rise of Rs.2-3/kg by next week. Current scenario draws an attention to step up for procurement at current level.
👉 Click Here to Download PDF Report with historical Data :https://tinyurl.com/PETWEEK3RDJULY2019
▶Weekly Report & Future Trend: PET - Week 2nd July 2019.

🔹 Crude Oil Scenario:
On Friday, Brent Crude oil closed higher by 1.47% at $ 64.23/bbl while WTI closed higher by 0.30% at $ 57.51/bbl. U.S. inventories fell less than expected as U.S. refineries last week consumed less crude than the week before and processed 2% less oil than a year ago. Output will stay limited as the OPEC+, agreed on Tuesday to extend oil production cuts until March 2020.

🔷 China Bazaar : The USA pause trade war with talks 'back on track' During G 20  meeting , U.S. President Donald Trump & Chinese President Xi Jinping agreed to proceed with negotiations after a series of escalations to their nations’ trade war threatened to disrupt the world economy. Both leaders agreed to hold off on new tariffs.

Buying pulse is improved with an announcement came after  much awaited G 20 meet.USA won't lift existing import tariffs, but will refrain from slapping new levies on Chinese goods. Crude started gearing up on account of improved tensions between US &  Iran .Equations are made that if dispute escalates further -supplies of Crude, Downstream  & Polymers will be largely impacted .International offers of polymers at China has witnessed upward trend & same is revealing at DCE for spot & future deals.


🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 1/7/19 ) : 8037
✅Friday Closing ( 5/7/19 ) :8200
✅Week On Week Difference : Up 2.02% 

🔷 Indian Bazaar scenario:
Buying mood is improved a lot in comparison with last Month.Supported with international offers for CIF NS,domestic bazaar confirms uptrend.Processors are willing to stock & build an inventories at attractive price.Considering current factors & tone-Buying is advisable.

👉 Click Here to Download PDF Report with historical Data :  https://tinyurl.com/PETWK2NDJULY19
▶Weekly Report & Future Trend: PET - Last Week June 2019.

🔹 Crude Oil Scenario:
Crude oil futures were down 0.61% at Rs 4,090 per barrel on June 28 after US Special Representative for Iran Brian Hook said that the US will slap sanctions on countries that import oil from Iran.West Texas Intermediate crude fall 0.32 % to $59.11 per barrel, while Brent crude, the international benchmark, was up 0.14 per cent to $66.64 per barrel.

🔷 China Bazaar :
🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 24/6/19 ) : 7600
✅Friday Closing ( 28/6/19 ) :7800
✅Week On Week Difference : Up 2.63% 

🔷 Indian Bazaar scenario:
For July end-Early August shipments -International offers for CIF Nhava Sheva assessed with an increment. For Overseas Polymer producers & Specially from US & China , India is one of the bigger bazaar to be considered to retain their export share. In order to safe guard domestic producers against expected dumping of polymers on account of ongoing trade war between USA & China. 
In order to counter huge imports & safe guard domestic producers , Indian govt. is under process of evaluating import duty structure. There are chances that Govt. may offer rise in custom duty to be levied on Polymers in next budget to be announced in the month of July 2019.Looking to current scenario ,it seems that  Indian producers may offer price rise in days ahead.At this levels polymer buying is advisable.

👉 Click Here to Download PDF Report with historical Data :
▶Weekly Report & Future Trend: PET - Week 4th June 2019.

🔹 Crude Oil Scenario:
On Friday Oil prices hit a three-week high on, Brent crude oil closed higher by 1.16% at $ 65.20/bbl while WTI closed higher by 0.63% at 57.43/bbl. WTI oil was on track for a weekly gains of nearly 10%, while Brent was up 5.3% from a week ago.Donald Trump had authorized military strikes against Iran in response to the strike against a U.S. surveillance drone late Thursday. OPEC members have postponed their scheduled review of the existing agreement on output restraint by a week to July 1.

🔷 China Bazaar :Local bazaar is accounted for poor demand in line with ongoing continuous price fall.Many plants are under shutdown or planned maintenance without leaving any impression of supply restrictions.

Buying sentiments of industry are most uncertain with the prolonged trade war between US & China ,on account of trade tariffs still unresolved.Since high import duty structure of 25 % on US polymers are not viable hence Cargoes are being redirected to other bazaars -creating pressure on S.E Asian suppliers. Non stop reversal in prices are resulted in ' wait & watch' approach from converters & they are willing to book minimum inventory levels at this stage.

🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 17/6/19 ) : 7312
✅Friday Closing ( 21/6/19 ) :7587
✅Week On Week Difference : Up 3.76% 

🔷 Indian Bazaar scenario:
Offers for PET bottle grades are witnessing major downfall & domestic bazaar is still under pressure of price war.Local players are offering price reductions almost every week in addition to healthy offtake based discounts.Processors are concluding deals with need base requirements only ,with a clear state of mind to minimize inventories. Buyers shall adopt ' Wait & Watch' until prices settles at certain levels.

👉 Click Here to Download PDF Report with historical Data : https://tinyurl.com/PETWK4THJUNE2019
▶ Future Bazaar Trend: PET - Week 3rd June 2019.
🔹 Crude Oil Scenario:
On Friday, Brent Crude oil prices closed higher at 1.14% at $ 62.01/bbl while WTI closed 0.44% at 52.51/bbl. Prices were rose after attacks on two oil tankers in the Gulf of Oman this week raised concerns about potential supply disruptions. U.S. sanctions on Iran and Venezuela, an output cut pact by OPEC plus its allies, fighting in Libya and attacks on tankers in the Gulf of Oman added only limited uncertainty to supply.

🔷 China Bazaar : PET prices remained under pressure & witnessing continuous downfall.Lackluster demand has forced producers to keep pulling price down along with handsome discounts. Strong appreciation of USD against Chinese yuan has also left major impact on demand for import cargoes.On account of prolonged trade war between China & the USA- converters are exercising safe practice of procurement by keeping inventories at low level. 

🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 10/6/19 ) : 7325
✅Friday Closing ( 14/6/19 ) :7225
✅Week On Week Difference : Down 1.37% 

🔷 Indian Bazaar scenario:
This week , Indian companies reduced rate again by Rs3/kg .Arrival of monsoon brings sluggish demand in beverages & drink industry which directly affects demand of  PET.Persistent falling price at global bazaar & ample availability of polymers has forced local producers to keep slashing prices. Processors are not willing to carry additional inventories & searching for more lucrative offers. Considering current scenario , Need base buying is advisable.

👉 Click Here to Download PDF Report with historical Data : https://tinyurl.com/PETWK3RDJUNE19



▶ Future Bazaar Trend: PET -   Week 2nd June 2019.

🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed higher by 2.65% at $ 63.29/bbl while WTI closed higher by 2.66% at $ 53.99/bbl. The Energy Information Administration on Wednesday reported that U.S. crude supplies rose by 6.8 million barrels for the week ended May 31. Saudi Energy Minister Khalid al-Falih has called recent volatility “unwarranted” and has said he expects OPEC to help to stabilize prices beyond the end of the global output pact at the start of July.

🔷In a major move , USA hits Iran with fresh sanctions in order to target petrochemicals sector

🔷 China Bazaar :
🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 3/6/19 ) : 7437
✅Friday Closing ( 7/6/19 ) :7237
✅Week On Week Difference : Down 2.69% 

🔷 Indian Bazaar scenario:
The International Bazaar assessed stable to soft with continuous downfall . Latest international offers for CIF NS & Price governing factors directs towards another price cut in days ahead . “ Need base buying “ is suggested .

👉 Click Here to Download PDF Report with historical Data :

▶ Future Bazaar Trend: PET -   Week 1st June 2019.
🔹 Crude Oil Scenario:
On Friday,Brent Crude oil closed lower at 3.56% at $ 64.49/bbl while WTI closed lower 5.46% at $ 53.50/bbl. The US Energy Information Administration (EIA) said crude stocks fell by around 300,000 barrels last week, to 476.49 million barrels.US President Donald Trump vowed on Thursday to slap tariffs on all goods from Mexico unless it stops illegal immigration, firing up fears over economic growth and appetite for oil.

🔷 China Bazaar :In major news: 
China & USA ongoing trade war is unlikely to end soon.
Both countries have been engaged in a trade war amid Trump’s call for fair trading practices that don’t take advantage of the U.S. economy.
The deadlock over trade between the China and USA is unlikely to end during next month's G20 summit which is going to be held at Japan, with a former Chinese central bank chief blaming President Trump for the lack of breakthrough.
Earlier this month, USA  raised tariffs on $200 billion in Chinese imports from 10 % to  25%. In retaliation, China increased tariffs on thousands of American products worth about $60 billion. A 25 %  tariff was levied on a few thousand other products, including soy oil, peanut oil, petrochemicals, frozen minerals and others.

🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 27/5/19 ) : 7350
✅Friday Closing ( 31/5/19 ) :7437
✅Week On Week Difference : Up 1.19% 

🔷 Indian Bazaar scenario:
Consistent dull buying interest and major reduction in international offers at CIF NS for June ‘19 - has forced domestic producers to cut PET price marginally by Rs.6/kg
How ever all offtake from 22nd May ‘19 till recent revision was safe under offered Price Protection.
Taking all factors in price deciding equation ,current statistic guide to adopt “wait and watch “ policy

👉 Click Here to Download PDF Report with historical Data :  https://tinyurl.com/PETWK1stJUNE19
Future Bazaar Trend: PET -  Last Week May 2019.


🔹 Crude Oil Scenario:

On Friday Brent Crude oil closed higher by 1.37% at $ 68.69/bbl, while WTI closed higher by 1.24% at $ 58.69/bbl. Oil coursed downward with other global markets as concerns grew that the China-U.S. trade conflict was fast turning into a technology cold war between the world’s two largest economies. Iran is exporting considerably less oil as a result of the U.S. sanctions, oil shipments from Russia are still being disrupted because of quality problems, and OPEC is keeping supply tight.


🔷 China Bazaar Scenario: Week on Week basis:RMB./Mt.
🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 20/5/19 ) : 7800
✅Friday Closing ( 24/5/19 ) :7350
✅Week On Week Difference : Down 5.77%

🔷Indian Bazaar scenario:

The buying sentiments are much silent meeting Need base approach from buyers. Indian mfgrs. has reduced PET price last week & still another price cut is on the way. Buyers are advised to practice cautious step before committing additional procurement. Current global scenario & price affecting factors guides towards another round of price reduction.  It seems that Indian companies may come with further price cut of approx. Rs.2 - 3/kg in days ahead. Keeping all factors in calculation , Need base buying is advisable.

Click Here to Download PDF Report with historical Data : tinyurl.com/PETLASTWKMAY19  

▶ Future Bazaar Trend: PET,  Week 4th May 2019.
🔹 Crude Oil Scenario:
On Friday, Brent Crude oil closed lower by 0.56% at $ 72.21/bbl while WTI closed lower by 0.17% at $ 62.76/bbl  due to demand fears amid a standoff in Sino-U.S. trade talks, but both benchmarks ended the week higher on rising concerns over supply disruptions in Middle East shipments due to U.S.-Iran political tensions.U.S. energy firms this week reduced the number of oil rigs operating for the second week in a row.

China Bazaar Scenario: Week on Week basis:RMB./Mt.
🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 13/5/19): 8100
✅Friday Closing ( 17/5/19):7900
✅Week On Week Difference : Down 2.47%

Indian Bazaar scenario:

Though its summer & considered as peak season for packaging & beverage industry, the domestic buying pulse is below average after recent downfall of Rs.3/kg wef 16th May '19 .Current global scenario & price affecting factors guides towards another round of price reduction. It seems that Indian companies may come with further price cut of approx. Rs.2 - 3/kg in days ahead. Keeping all factors in calculation , Need base buying is advisable.


Click Here to Download PDF Report with historical Data : https://tinyurl.com/PETWK4THMAY19