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PET : Weekly Report & Future Trend- 2nd Week July 2020.

🔷 Crude Oil Scenario: On Friday Brent Crude closed lower by 0.79% at $ 42.80/bbl while WTI closed lower by 0.81% at $ 40.2/bbl.Oil prices were still headed for a weekly gain this week as low supply from OPEC, encouraging economic data from the U.S. and China, and a drop in U.S. commercial inventories had supported prices earlier this week.the U.S. reported on Thursday its highest level of new daily coronavirus cases so far at more than 55,000, raising fears that a surge in infections will dent the gradual oil demand recovery in America, which consumers 20 percent of the world’s daily oil supply.

🔷  China Bazaar :
PET Spot Bazaar offers( RMB/MT)
Monday Opening ( 29/06/20 ): 5700
Friday Closing ( 03/07/20 ): 5683
Week On Week Difference : Down 0.29%

🔷 Indian Bazaar :
With an increment in energy & feedstock products , Int'l.offers are marching upward for Indian Bazaar.This week latest offers for Bottle grade PET assessed at $710-720 /Mt &  $720-730 /Mt for 0.80 & 0.84 IV respectively for CIF Nhava sheva basis.

On account of strong buying sentiments from region supported by global price incline tone, Indian producers announced price hike in PET variants of Re.1.5/kg wef 1st July'20.Understanding improvement in consumption pattern at China & S.E.A countries ,PET prices are witnessing stable to firm trend.Looking to current scenario & above facts , Polymer procurement at current levels is advisable.
▶️ PET : Weekly Report & Future Trend- 1st Week July 2020.
▶️Crude Oil Scenario: On Friday, Brent crude oil closed lower by 0.07% at 41.02/bbl while WTI closed lower 0.59% at $ 38.49/bbl. The contracts are on track for weekly falls of around 3.1 per cent and 3.6 per cent, respectively, after record US crude inventory data dragged prices down on Wednesday. There are fears that a spike in COVID-19 infections in southern US states could stall the demand recovery, especially as some of those states, such as Florida and Texas, are among the biggest gasoline consumers.

▶️ China Bazaar :
PET Spot Bazaar offers( RMB/MT)
Monday Opening ( 22/06/20 ): 5716
Wednesday Closing ( 24/06/20 ): 5716
Week On Week Difference : Stable

▶️Indian Bazaar :
During this week, Feedstock prices began to increase again,which has given new direction of the prices was largely provoked by the higher PTA & MEG reference contract. On account of bullish demand from sanitizer & disinfectant mfgr. industry, consumption is on higher side.Polymer Producers are aiming to opt for cost increase.Demand was satisfying on a broad front. Inventory restocking after the return from pandemic imposed lockdown, brought a boost.

Latest offer for 080 & 0.84 IV Bottle grade PET assessed at US$ 700-710/Mt to US$  710-720/mt for July'20 shipments respectively.India witness volumetric import of PET from Chinese producers & escalated tension at India - China border is creating uncertainty for consistency & quantity arrival of PET resin for days ahead. Current scenario & spot prices are giving some first indications to see price rise on 1st July 2020.
▶ PET : Weekly Report & Future Trend- 4th Week June 2020.

 Crude Oil Scenario: On Friday, Brent crude oil closed lower by 0.07% at 41.02/bbl while WTI closed lower 0.59% at $ 38.49/bbl. The contracts are on track for weekly falls of around 3.1 per cent and 3.6 per cent, respectively, after record US crude inventory data dragged prices down on Wednesday. There are fears that a spike in COVID-19 infections in southern US states could stall the demand recovery, especially as some of those states, such as Florida and Texas, are among the biggest gasoline consumers.

 China Bazaar :
PET Spot Bazaar offers( RMB/MT)
Monday Opening ( 22/06/20 ): 5716
Wednesday Closing ( 24/06/20 ): 5716
Week On Week Difference : Stable

Indian Bazaar :
During this week, Feedstock prices began to increase again,which has given new direction of the prices was largely provoked by the higher PTA & MEG reference contract. On account of bullish demand from sanitizer & disinfectant mfgr. industry, consumption is on higher side.Polymer Producers are aiming to opt for cost increase.Demand was satisfying on a broad front. Inventory restocking after the return from pandemic imposed lockdown, brought a boost. 

Latest offer for 080 & 0.84 IV Bottle grade PET assessed at US$ 700-710/Mt to US$  710-720/mt for July'20 shipments respectively.India witness volumetric import of PET from Chinese producers & escalated tension at India - China border is creating uncertainty for consistency & quantity arrival of PET resin for days ahead. Current scenario & spot prices are giving some first indications to see price rise on 1st July 2020.

▶ PET : Weekly Report & Future Trend- 2nd Week June 2020.


🔹 Crude Oil Scenario:  This Friday ,the imminent extension, coupled with a surprisingly good U.S. jobs report, sent Crude Oil 5% higher to $42/bbl.

🔷 Brent :  Bazaar have broken above the $40/bbl during the week, which is a very bullish sign. The $40 level had been a real thorn in the side for buyers. This is especially true considering that the Brent bazaar is especially sensitive to many of the OPEC countries, which look set to cut back production even further.

🔷WTI ( West Texas Intermediate ) : Bazaar rallied significantly  by approaching towards the $40/bbl. It should be noted that the $41 level is the top of the gap that is visible from now.   

🔷 China Bazaar :
🔷 PET Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 01/06/20 ): 5700
✅ Friday Closing ( 05/06/20 ): 5800
✅Week On Week Difference : Up 1.75%

🔹Indian Bazaar :  The latest offers for Bottle grade PET assessed firmer at US$ 730-740/Mt CIF NS, for June end shipments. Indian companies rolled over prices wef 1st June'20.Robust demand observed in bottle grade PET variants of different IVs.For now,Industry is facing major shortage of skilled / unskilled manpower due to their mass migration to their villages/native.Still plants aren't able to reach their routine production capacities resulting in production cut & affecting in limited consumptions. Interstate logistic movements are also highly affected & will take some days to settle,which is again a big concern for industry.

Considering current scenario & other price controlling factors, Polymer buying is suggested.
▶ PET : Weekly Report & Future Trend- 1st Week June 2020.
🔹 Crude Oil Scenario:
On Friday, Brent Crude oil closed higher by 0.11% at $ 35.33/bbl while WTI closed higher by 5.28% at 35.49/bbl. Despite production cuts from OPEC+ and North America and slowly improving demand, oil prices are not expected to average much higher than current prices in 2020 because of renewed U.S.-China tensions. The price gains from improving fundamentals could be capped by flare-ups in the U.S.-China relations, which could damage the post-coronavirus economic recovery and trade. Analysts expect the cuts from major producers in and outside the OPEC+ pact and the recovering demand to support oil in the coming months. However, renewed U.S.-China tensions over China’s new security laws for Hong Kong have been weighing on equity and oil markets in recent days.

🔷 China Bazaar :
🔷 PET Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 25/05/20 ): 5716
✅ Friday Closing ( 29/05/20 ): 5700
✅Week On Week Difference : Down 0.29%

🔹Indian Bazaar : In last week, PET grades were offered in the range of US$ 710-720/Mt for CIF NS. Relaxations are offered to industry & removal of strict lockdown norms has allowed converters to back to floor. With many hurdles of liquidity crunch , manpower availability & other unexpected problems, converters are struggling to meet their routine production capacities.

Processors are willing to cover stock at current levels at appropriate offers. From this levels , Polymer prices are set to march further in days ahead.Considering current scenario with other price controlling elements ,we are oft the opinion to step in to procurement.
▶ PET : Weekly Report & Future Trend- 4th Week May2020.

🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed lower by 2.58% at $ 35.13/bbl, while WTI closed lower by 1.98% at 33.25/bbl.  Crude oil prices gained this week with the easing of quarantine measures and a surprise decline in US crude inventories, but lost most of the gains on Friday with rising tensions between the world's two largest economies and oil consumers China and the US. 

US President Donald Trump accused China late Thursday of alleged misinformation against his country and Europe. The world's two largest economies are at the forefront of the global economic slowdown and weakening oil consumption around the world.

🔷 China Bazaar :
🔷 PET Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 18/05/20 ): 5425
✅ Friday Closing ( 22/05/20 ): 5716
✅Week On Week Difference : Up 5.38%

🔹Indian Bazaar : 
At Indian Bazaar , under major threat to life & livelihood - corona virus remain impacting industry , business & routine activities most adversely.From such controlled stage of nation wide lock-down ,industry has started moving further on easing restrictions by state & central govt.

This week Int'l. offers for bottle grade PET were assessed at US $ 705-715/mt CIF NS, Mumbai -with a nominal rise from the previous week's offer.On a/c of long imposed nation wide lock down , supply chain is highly disturbed & logistic movements are restricted partially.This situation has created raw material availability issues in many regions.

Recent hit of super cyclone Amphan Typhoon in eastern India , left its footprint by effecting working of Petrochemical plants & other processing units in the region.

Looking at the current scenario & other price governing factors , It seems that Indian producers will increase Polymer prices on 1st June'20. Polymer buying at current level is suggested.
▶ PET : Weekly Report & Future Trend- 3rd Week May2020.
🔹 Crude Oil Scenario:
On Friday Brent Crude Oil closed higher by 4.40% at $ 32.50/bbl while WTI closed higher 6.79% at 29.43/bbl, with the U.S. benchmark posting a weekly gain of 19%, finding support from production cuts by major oil producers and early signs of a recovery in demand for crude with some business lockdowns globally being lifted. Declines in U.S. production have also helped to support prices for oil. In a monthly oil report released Thursday, the IEA said the U.S. would be the key driver of a “spectacular” 12 MnBpD fall in global oil supply in May to 88 MnBpD, to hit a nine-year low.OPEC+ cuts “extend only through June, but the group could agree an extension when they meet on June 10.

🔷 China Bazaar :

🔷 PET Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 11/05/20 ): 5350
✅ Friday Closing ( 15/05/20 ): 5350
✅Week On Week Difference : Stable


🔹Indian Bazaar :  At the domestic front, wef 16th May'20 -Indian companies left PET price unchanged. This week Int'l. offers for bottle grade PET were assessed at US $ 700-725 / mt with a nominal rise from the previous week's offer.

Industrial movements are gradually turning to normal, which has supported buying sentiments a lot. Demand in the raw material is picking up with an anticipation of price rise in days ahead. On a/c of handsome demand of PET bottles from the sanitizer/disinfect mfg. industry -many new moulds & projects are under construction. To support industry & trade sentiments, GOI has announced a stimulus package of INR 20 lac crores to address the impact of virus on the economy.

Looking to the above facts & other price controlling factors, polymer buying is advisable.
▶ PET : Weekly Report & Future Trend- 2nd Week May2020.
🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed higher by 5.13% at 30.97/bbl while WTI closed higher by 5.05% at 24.74/bbl, with optimism over production cuts and rising demand for gasoline lifting to U.S. benchmark prices up by 25% this week. The EIA Wednesday reported a weekly decline in U.S. gasoline stocks. Motor gasoline demand saw implied demand drop 39.6% over a four-week period, but that’s an improvement from the previous report which showed four-week implied demand down by 43.7%.The number of oil and gas rigs operating in the United States is expected to hit an all-time low this week - reflecting data going back 80 years.

🔷 China Bazaar :

🔷 PET Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 04/05/20 ): 5275
✅ Friday Closing ( 08/05/20 ): 5350
✅Week On Week Difference : Up 1.42%


🔹Indian Bazaar :  Recent quotes from overseas producers for Bottle grade PET for CIF NS are assessed at  700-720 US$/Mt with nominal change while compared with last week. Demand tone is supporting with continuous orders from sanitizer & disinfectant mfgrs.companies.In the routine course, India witness qty. imports of Chinese PET, after corona outbreak -prevailing uncertainties have created a room for supply & acceptance constraints from both side. This may result in a scarcity of resin against gigantic demand.
As per the input received from the processor, ' In real terminology- Middle & small scale industries are hit with dual-edged sward. At one end we were under closure from more than 40 days with fixed expenses of wages, electricity, rent  & many other financial commitments with no revenue generation in line. While at other when we were given relaxations to resume desk with either 50 % or 25 % of the manpower, skilled /unskilled labour aren't available. By managing anyhow, if we meet our production cycle back to normal -we aren't able to dispatch as interstate logistics restrictions are still in force.'

To address financial difficulties faced by industries, MSMEs, etc during COVID-19 lockdown most of the state government has announced an economic relief package.

As per govt. guidelines, lockdown will remain in force till 17 th May'20 & if reqd. GOI may re-extend. After keeping all price deciding factors in calculation, Polymer buying is suggested.
▶ PET : Weekly Report & Future Trend- 1st Week May2020.
🔹 Crude Oil Scenario:
On Friday Brent Crude oil closed lower by 0.15% at $ 26.44/bbl while WTI closed higher by 4.99% at $19.78/bbl. U.S. oil prices were 5% higher while Brent crude rose above $26 per barrel on Friday, with both benchmarks posting their first weekly gain in four weeks as OPEC and its allies embark on record output cuts to tackle a supply glut due to the coronavirus crisis.

🔷 China Bazaar :

🔷 PET Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 27/04/20 ): 5375
✅ Friday Closing ( 01/05/20 ): 5250
✅Week On Week Difference : Down 2.33%


🔹Indian Bazaar :  WEF 1st May'20, Indian Producers choose to reduce PET  price by Rs.3/kg ( Approx US $40 /Mt). The latest offer being floated for bottle grade PET is accounted at US$ 740-750/Mt for CIF NS. Under the current situation of coronavirus outbreak, the buying pulse of PET resin is improved a lot -due to high-end demand from sanitizer & disinfectant mfgrs.

Indian Govt. has extended nationwide lockdown from 3rd May to 17th May'20.On the other hand, industry is passing through much critical time due to the emerging scarcity of manpower. Most of labors have started returning to their native / home town, Which is resulting in a shortfall of production, hence reducing polymer demand. It has become very difficult to predict & define the next course of action under such a high volatility in energy & prevailing major uncertainties.

Most of the commodities are under selling pressure & touched their multi-year low levels. Polymer importers must monitor price controlling elements closely & conclude the next action. Current scenario guides to opt for ' Wait & Watch ' & practice need base buying till the situation turns to normal.
▶ PET : Weekly Report & Future Trend-  Last Week April 2020.
🔹 Crude Oil Scenario:
On Friday Oil futures finished higher for a third straight session, but U.S. prices posted a record weekly loss of more than 32%, as commodity investors attempted to take stock of a historic collapse in prices that cast a spotlight on problems of oversupply and dwindling storage in the energy complex.Gains on Friday marked a third straight advance for the international and U.S. grade oils the longest such streak of gains since a similar stretch ended March 25. Kuwait on Thursday, for example, said it would consider trimming its production early,It is unclear what effect declines in output will have in balancing the massive oversupply of crude and the lack of storage facilities which has pressured the energy industry.

🔷 China Bazaar :

🔷 PET Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 20/04/20 ): 5375
✅ Friday Closing ( 25/04/20 ): 5250
✅Week On Week Difference : Down 2.33%


🔹Indian Bazaar :  Latest offers for bottle grade PET assessed at US $ 730-740/Mt for CIF NS, Mumbai for May'20 deliveries. Buying sentiments are much positive bcs of strong demand from packaging ind. This week, Indian producers left PET prices static for domestic bazaar.

Industry is passing through a tough phase, on a/c of the heavily spread of COVID 19. Until now, converters ( except engaged in mfg. of essential goods & related products )weren't able to operate their functions due to nationwide call of Lockdown, which will be in force till 3rd May'20. If lockdown is being withdrawn or relations are offered on the scheduled date, industry is afraid that labours may return to their native/ home town-which will create a major shortage of manpower. Out of total Indian Plastic industries, more than 60-65 % of units are falling under MSME / SME & are functional with the support of skilled labour. In the absence of experienced manpower, many industries will be forced to remain shut ( Fully / Partially ).

After reviewing the ongoing scenario & other price supportive elements, Polymer buying is advisable.
▶ PET : Weekly Report & Future Trend-  4th Week April 2020.
🔹 Crude Oil Scenario:
On Friday, Brent Crude Oil closed higher by 0.83% at $ 28.08/bbl while WTI closed lower by 8.05% at $ 18.27/bbl. U.S. crude prices slid to a new 18-year low Friday, recording another big weekly drop with the coronavirus pandemic erasing demand for fuel and pressuring energy producers.China reported that its economy suffered a historic slump in the first quarter, OPEC predicted demand for its oil will fall to a three-decade low and U.S. and Europe inventories swelled. Meanwhile, prices in the physical oil market have disconnected from futures, with landlocked crudes such as Bakken and Western Canadian Select worth about $11 to $12 a barrel.

🔷 China Bazaar :

🔷 PET Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 13/04/20 ): 5450
✅ Friday Closing ( 17/04/20 ): 5375
✅Week On Week Difference : Down 1.38%


🔹Indian Bazaar :  At local bazaar , Indian companies rolled over PET prices wef 16th April'20.Overseas producer's offers for Indian ports were assessed at US$ 750-760/Mt for CIF NS ( Bottle grade PET IV 0.76 dl/g & 0.80 dl/g ). Buying sentiments are much strong on a/c of robust requirements from sanitizer, disinfectant , edible oil & many other packaging products mfgrs. 

For recent phase, Most of the industries across India,are performing partial / fully shutdown on a/c of  nation wide call of ' Lockdown ' . We expect to see drastic rise in demand graph of PET once lockdown is withdrawn. Pl. note , lockdown has been extended till 3 rd May '20  &  govt. will announce further guidelines & next course of action-based on data of April last week.

Forex Bazaar  : USD has become more stronger against INR & exchange rate crossed mark of Rs.76-77.This week , wef 17 th April '20- Indian Govt. also raised their US$-INR exchange rate by Re.1.30/US$ at 77.65 for valuation of goods under import. Until now, India was witnessing  qty. import of PET from China ,From here we've to forecast next scenario
based on restricted / limited import- till situation turns to normal.

PET always remains under healthy demand during summer season from beverages , soft drink & many other related industries.Keeping all price deciding factors & calculation , Polymer buying is advisable at current levels.
▶ PET : Weekly Report & Future Trend-  3rd Week April 2020.
🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed lower by 4.14% at $ 31.48/bbl while WTI closed lower by 9.29% at $ 22.76/bbl. Global oil producers and refiners are struggling with a series of unprecedented dislocations as the simultaneous epidemic and volume war between Saudi Arabia and Russia rip through every element of the supply chain.U.S. fuel demand has dropped by about one-third in the last three weeks, according to the U.S. Energy Information Administration, with last week's fall of 3.4 million barrels per day (bpd) the most ever. The declines have been particularly sharp in gasoline demand, which has been cut nearly in half in the last three weeks alone.

🔷 China Bazaar :

🔷 PET Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 06/04/20 ): 5100
✅ Friday Closing ( 10/04/20 ): 5350
✅Week On Week Difference : Up 4.90%


🔹Indian Bazaar : At domestic front , during such difficult phase of lockdown - PET bottles are accounted under strong demand from packaging industry. PET Bottles are widely used for packaging of sanitizers & many other stuffs.Latest International quote for bottle grade PET found in range of  700-710 US $/Mt for CIF Nhava Sheva. Most of industries aren't operational ,however Industries registered under head of ' Essential goods & products ' are functional with reqd. permission of local authorities /civic bodies. 

Currency Input : Indian rupee depreciated marginally against US$  & also crossed mark of Rs.77 during intraday trade. USD-INR exchange rate is also considered as one of the major price deciding factor for imported goods.During summer PET polymers remains under strong demand for packaging , beverage & bottling industry. Demand is likely to increase  in PET variants once lockdown is revoked.

Looking to current scenario & prevailing uncertainty , we advise to follow 'Wait & Watch' .
▶ PET : Weekly Report & Future Trend-  2nd Week April 2020.
🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed higher by 13.93% at $ 34.11/bbl while WTI closed higher by 11.93% at $ 28.34/bbl. Crude prices saw record weekly increases ahead of a highly anticipated meeting Monday of members of the Organization of Petroleum Exporting Countries, their allies and any other interested parties. Trump tweeted on Thursday that he had brokered a deal for Saudi Arabia, Russia and other oil producers to cut between 10 million and 15 million barrels of supply from daily world output. 

🔷 China Bazaar :

🔷 PET Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 30/03/20 ): 5200
✅ Friday Closing ( 03/04/20 ): 5100
✅Week On Week Difference : Down 1.92%


🔹Indian Bazaar WEF 1st April'20, Indian Producers choose to decrease PET price by Rs.2/kg. This week , offers for bottle grade PET pointed with visible downward at 740-750 US$/mt.COVID 19 virus crisis remained in news & continues spread across globe. Like many other countries,India has also adopted nation wide lockdown for 3 weeks , hence all Industrial activities are non operational except companies involved in mfg. of essential goods & products.Like other packaging materials ,PET bottles are also under heavy demand from sanitizers mfg. industry.

Considering current global scenario & other price governing factors , Industry shall opt for ' Wait & Watch'.
▶ PET : Weekly Report & Future Trend-  1st Week April 2020.

🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed lower by 5.35% at $ 24.93/bbl while WTI closed lower by 4.82% at $ 21.51/bbl, Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world.With 3 billion people in lockdown, global oil demand could be cut by a fifth, International Energy Agency head Fatih Birol said as he called on major producers such as Saudi Arabia to help to stabilise oil bazaar.

🔷 China Bazaar :

🔷 PET Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 23/03/20 ): 5400
✅ Friday Closing ( 27/03/20 ): 5350
✅Week On Week Difference : Down 0.93%


🔹Indian Bazaar:On account of Corona Virus outbreak & recent nation wide lockdown all Bazaars are closed.Hence latest price for Indian Open bazaars will be made available once Industry is back to desk & fully functional.Most of the Indian Polymer Producers has already announced fully or partial closure of their operations under head of Force Majeure ( FM ). 

Companies has been also approached with request to consider disability of Processors to fulfil their MOU commitments during such critical phase. Hence relaxations or an extension is likely to be announced by Polymer Producers in days ahead
▶ PET : Weekly Report & Future Trend-  4th Week March 2020.

🔹 Crude Oil Scenario:
On Friday, Brent Crude closed lower by 1.49% at 26.98/bbl while WTI closed lower by 2.79% at 22.43/bbl. U.S. crude prices notched a weekly loss of 29%, the steepest since the outset of the U.S./Iraq Gulf War in 1991. Brent crude dropped by 20%. Both benchmarks have dropped for four straight weeks.U.S. officials scrambled to respond on Friday, saying they would send a U.S. Energy Department official to Saudi Arabia for several months to work on stabilizing energy markets. Also, a Texas state regulator spoke with OPEC Secretary General Mohammad Barkindo about the possibility of a global production cut.

🔷 China Bazaar :

🔷 PET Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 16/03/20 ): 5800
✅ Friday Closing ( 20/03/20 ): 55500
✅Week On Week Difference : Down 4.31%


🔹Indian Bazaar: At domestic front ,buying pulse is highly discouraging backed with limited demand from finished products.This week , latest Offers for bottle grade PET for NS ,Indian Ports were assessed at US $ 780-790 /mt.Processors are delaying their procurements intentionally with an anticipation of witnessing further price cut in days ahead.USD appreciated marginally against INR & closed above mark of 75,however crude & gas price slashed above 25%.Goldman Sachs slashed its price forecast for second-quarter Brent crude oil by a third to $20 a barrel.

Whole economy & industry is passing through major uncertainty due to widely spread corona virus out break ,which has created havoc across globe.As a precautionary measure ,Indian govt. has announced advisory & urge all citizens to take extra care of health by opting self isolation at least for next 2 weeks. Financial capital Mumbai along with many other cities has been asked to undergo fully / partial lock down to control virus spread at a large.Keeping health as a first & foremost priority- most of manufacturing industries are going to close / shut their operations either fully / partially. This is going to impact adversely on polymer consumption & procurement pattern. Most of regional plastic mfgrs. association has requested Indian Polymer producers to consider this unexpected pandemic as a FM & allow/offer at least some relaxations to meet their annual M.O.U.commitments to safeguard from financial loss.

Current phase of uncertainties guides to monitor all price governing factors very closely & step in to cautious buying.



▶ PET : Weekly Report & Future Trend-  3rd Week March 2020.

🔹 Crude Oil Scenario:
On Friday, Brent Crude closed higher by 1.90% at $ 33.85/bbl, WTI closed higher by 0.73% at $ 31.73/bbl,  but a Saudi-Russian price war and the global spread of the COVID-19 pandemic still meant prices posted the sharpest weekly drop since 2008. The coronavirus sparked panic selling across markets for the bulk of the week. The virus has infected at least 138,000 people worldwide and killed more than 5,000, disrupting business, markets and daily life. Hopes for a US stimulus package that could ease an economic shock from the coronavirus provided some support to the oil and stock markets on Friday.

🔷 China Bazaar :

🔷 PET Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 09/03/20 ): 6300
✅ Friday Closing ( 13/03/20 ): 5900
✅Week On Week Difference : Down 6.35%


🔹Indian Bazaar: 

On account of corona virus wide spread & other Global turmoil many commodities prices slashed down marginally. At India,WEF 13 th March- Reliance slashed PET price by Rs.3.5/kg ( Approx 48 USD/MT).Buyers are not ready to carry any extra inventories in anticipation of further price reduction in days ahead.Most of the convertors have opted for ' Wait & Watch ' policy. Crude price also fallen dramatically & still assumptions are made to see further price cut if OPEC & Russia didn't come to an agreement of production cut.


Considering current scenario & other price governing factors , we advise to strongly follow ' Need base Buying ' & avoid to keep any extra stock building.We forecast to witness further rate reduction in days ahead.


▶ PET : Weekly Report & Future Trend-  2nd Week March 2020.
🔹 Crude Oil Scenario:
On Friday,Brent Crude Oil closed lower by 9.44% at $ 45.27/bbl while WTI closed lower 10.07% at $ 41.28/bbl, bazaar  rallied a bit during the week but rolled over again as OPEC can do very little to stem the selloff. There had been talk about OPEC cutting back 1 million barrels per day while the others such as Russia could cut back 500,000 per day, but that has fallen apart. As per sources that Moscow would not back an OPEC call for extra reductions in oil output and would agree only to an extension of existing cuts by OPEC and its allies, a group known as OPEC+.

🔷 China Bazaar :

The coronavirus outbreak continues to severely disrupt economic activity and will weigh heavily on economic growth in the first quarter of 2020. Chinese government has restricted transportation, which, together with widespread fear among the population, is hitting consumption and manufacturing. That said, recent monetary easing measures and targeted fiscal support from the government should be propping up activity somewhat. Plastics & polymer industry is largely affected by corona epidemic ,which reflects from the polymers continuously falling price & reduced consumption pattern.


🔷 PET Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 02/03/20 ): 6250
✅ Friday Closing ( 06/03/20 ): 6300
✅Week On Week Difference : Up 0.80%


🔹Indian Bazaar: 

This week , International offers for CIF NS- assessed stable on a/c of dull demand. Influenced with USD appreciation against INR -Indian Government has announced new exchange rate of Rs. 74.25/$ for imports of goods wef 6th March 2020. 


At domestic front buyers are following “wait and watch “ policy. From March onwards , requirement of bottle grade PET remains at peak for beverages , packaging & food industries till June . 


Indian bazaar remain closed for next 2-3 days on the festival of Holi. Considering all price supporting factors, buying is suggested.


▶ PET : Weekly Report & Future Trend-  1st Week March 2020.
🔹 Crude Oil Scenario:
On Friday, Brent Crude closed lower by 3.18% at $ 50.52/bbl while WTI closed lower by 4.95% at $ 44.76/bbl, with U.S. benchmark prices down over 16% for the week, the largest weekly decline in more than 11 years, with the spread of the COVID-19 epidemic around the world expected to significantly dent demand for crude. The tumble puts increased pressure on the OPEC+ as they prepare to meet next week to discuss the possibility of additional production cuts in a bid to balance supply and demand.New reports on Friday said that key OPEC members were looking favorably on a larger-than-previously-expected output cut.

🔷 China Bazaar :

The Coronavirus Disease 2019 (Covid-19) outbreak in China is expected to disrupt supply-demand dynamics of the petrochemicals bazaar, causing a possible continued pressure on average selling prices across the petrochemicals value chain.According to ongoing situation- the prolonged Lunar New Year holiday that took place since late-January had further exacerbated the situation with disruptions at various petrochemical plants in China. 


Sinopeck-SK Wuhan Petrochemical which had lowered the operating rate of its 800 KTPA cracker by 10 % recently. In addition to this, company's  300KTPA cracker expansion which is scheduled for completion in July'20 has been delayed. Price levels are continuously experiencing selling pressure & falling down on account of restricted / shutdown or partially operated mfg. activities.


🔷 PET Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 24/02/20 ): 6300
✅ Friday Closing ( 28/02/20 ): 6250
✅Week On Week Difference : Down 0.79%


🔹Indian Bazaar: 

This week offers for bottle grade PET assessed stable at US $860-870/Mt for March'20 deliveries.On account of lack luster demand , Purchase order flow slowed down & sentiment turned negative.Selling pressure remained on stockiest-convertors & most of  processors has became cautious as they aren't wanting to build up long inventory.Based on recent situation & other price governing factors it seems that Indian Producers may roll over Pet price on 1st March 2020. Need base buying is suggested.


▶ PET : Weekly Report & Future Trend-  4th Week February 2020.

🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed lower by 1.37% at 58.50/bbl, while WTI closed lower by 0.78% at $ 53.46/bbl. pressured by a reported rift in the crude-production alliance between Saudi Arabia and Russia, as concerns about the spread of COVID-19 in China and beyond take a toll on expectations for energy demand.  OPEC+ are scheduled to hold meetings on March 5-6 in Vienna to discuss production and demand against a backdrop of worries surrounding COVID-19.

🔷 China Bazaar :
🔷 PET Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 17/02/20 ): 6200
✅ Friday Closing ( 21/02/20 ): 6250
✅Week On Week Difference : Up 0.81%


🔷 China Bazaar :

 Buying sentiments are of need base & faces further challenges in the region . The corona out break has increasingly impacting the conversion & packaging industry. Delays in plant restarts and limitations of logistics movements has hitted buying interest at a large.


🔹 Out Look :
At Global Bazaar : Ample availability & sluggish demand in finished products , has created an environment of price war, though planned / Unplanned turn arounds will take place in South East Asian countries.


At India : 

This week offers for bottle grade PET assessed at US $    /Mt for March'20 deliveries & Indian companies left PET price rolled over. Processors are in mood of keeping inventory levels at low until situation improves & become confident for price stability. Current global situation guides to operate industry safely with limited stock building.


▶ PET : Weekly Report & Future Trend-  2nd Week February 2020.

🔹 Crude Oil Scenario:
On Friday, Brent Crude oil closed lower by 0.84% at 54.4/bbl, while WTI closed lower by 1.24% at $ 50.32/bbl,  as strong growth in U.S. employment failed to offset concerns over the global economy fed by the spread of the coronavirus. Investors weighed Russia’s response to the reported recommendation of the OPEC+ Joint Technical Committee on Thursday a cut to production of its members and other allies by 600,000 barrels a day, amid oil demand worries driven by the spread of the virus which originated in China

🔷 China Bazaar :
🔷 PET Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 03/02/20 ): 6800
✅ Friday Closing ( 07/02/20 ): 6800
✅Week On Week Difference : Stable


🔷 China Bazaar :

On account of spread of deadly corona virus ,World wide commodity trade plunged further deeper into chaos as many local companies at China has initiated stepback approach to withdraw from their annual purchases contracts.Chinese companies are insisting to implement clause of FM ( Force majeure ) to safe guard their interest & allow them to revoke their commodity contacts due to corona epidemic.


🔹 Purchase Opinion : 

Latest offers for bottle grade PET for CIF Nhava seva assessed at $890-900/mt for late Feb. early March 2020 shipments. Indian bazaar observes handsome imports of PET variants from China in routine course,however on account of deadly corona virus epidemic spread-supply will be affected on higher side. For next shipments & clarity on ease of supply issue is still awaited from Chinese producers.

This may result in shortage against domestic consumption & bazaar sentiments may shoot up. From March onwards , requirement of bottle grade PET remains at peak for beverages , packaging & food industries till June .Considering all price supporting factors , Polymer buying is suggested at current levels.

👉 Click Here to Download PDF Report with historical Data 
▶ PET : Weekly Report & Future Trend-  1st Week February 2020.
🔹 Crude Oil Scenario:
On Friday, Brent Crude oil closed lower by 0.22% at 58.16/bbl, while WTI closed lower by 1.11% at $ 51.56/bbl, were on track for a fourth consecutive weekly loss, as markets grew more concerned about the economic damage of the new coronavirus that has spread from China to around 20 countries, killing more than 200 people. Saudi Arabia has opened a discussion about moving an upcoming policy meeting to early February from March to address the impact of coronavirus on crude demand.


🔷 China Bazaar :

Due to Corona Virus, China bazaar will remain close upto 9th Feb’20. Shanghai authorities have separately advised companies not to resume work until at least Feb. 9th. 2020.


🔹 Purchase Opinion : 

Remaining close for long holidays & non participation in global buying ,Polymers price is going to be highly affected. Considering the above possibilities along with geo political unrest & other price governing factors , Polymer buying is advisable at current price levels.

▶ PET : Weekly Report & Future Trend-  Last Week January 2020.

🔹 Crude Oil Scenario:
On Friday,Brent crude closed lower by 2.18%at $60.69/bbl while WTI closed lower by 2.25% at $53.49/bbl,heading for a weekly decline as concern that the coronavirus in China may spread, curbing travel and oil demand, outweighed the impact of cuts to supply. U.S. Energy Information Administration's latest weekly supply report, which on Thursday showed crude inventories fell 405,000 barrels in the week to Jan. 17. Saudi Arabia's energy minister said all options are open at the next OPEC+ meeting in March, including further cuts, Al Arabiya television reported on Thursday.

🔷 China Bazaar :
🔷 PET Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 20/01/20 ): 6800
✅ Friday Closing ( 24/10/20 ): 6800
✅Week On Week Difference : No Change

🔷 Purchase Opinion :

Escalated tension between USA & Iran had created an atmosphere of sudden rise in crude price ,which was short lived.Crude oil  price corrected downwards to earlier levels & sentiments remained stable, upon announcement of de-escalation between USA & Iran which cooled off the pressure.  Now industry is eyeing on further developments on USA & China trade war ,which has become major governing factor for global economy.


As per industry experts ,Indian govt. may increase custom duty on imports during next budget. Considering current scenario , Geo Political unrest & other price governing factors - Polymer procurement is advised. 


PET : Weekly Report & Future Trend- 4th Week January 2020. 


🔹 Crude Oil Scenario:
On Friday, Crude Oil futures ended with a modest gain, butregistered a loss for a second week in a row as traders continued to weigh theprospects for energy demand in the wake of the China-U.S. trade deal and Senateapproval of the U.S.-Mexico-Canada trade pact this week.Chinese officials saidits country saw economic growth falling to anew multi-decade low of 6.1% in2019.  

🔷 China Bazaar :
🔷 PET Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 13/01/20 ): 6700
✅ Friday Closing ( 17/10/20 ): 6800
✅Week On Week Difference : Up 1.49%

🔷 Purchase Opinion :

 Looking to current scenario , geological unrest , international trend & other price governing factors - Polymer buying is suggested.  


Click here to Download PDF Report with Historical Data


▶ PET : Weekly Report & Future Trend- 3rd Week January 2020.
🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed lower by 0.60% at 64.98/$, WTI also closed lower by 0.87% at 59.04/$,with prices posting their biggest weekly percentage fall in at least five months, as fears of a wider U.S.-Iran confrontation faded and data earlier this week showed a rise in U.S. crude inventories.Iran responded earlier this week with missile strikes aimed at bases housing U.S. forces in Iraq. The attacks produced no U.S. casualties and President Donald Trump on Wednesday indicated he was uninterested in further escalation of the conflict. The Energy Information Administration on Wednesday said U.S. crude inventories rose by 1.2 million barrels in the previous week.

🔷 China Bazaar :
China will celebrate Lunar New Year holidays from 24th Jan'20 - 30 th Jan'20.Bazaar buying sentiments are unlikely to rise marginally on account of upcoming holidays at China.

🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 06/01/20): 6700
✅Friday Closing ( 10/01/20): 6700
✅Week On Week Difference : Stable

🔷 Indian Bazaar :
Local demand is encouraging with an anticipation of price rise in near future. Next international offers for bottle grade PET is expected to see further increment of 20-30 USD/mt for CIF NS.Limited avails of imported cargoes against sound demand ,has widen delta. Converters are undergoing stocking activities to reserve their requirements in advance. This week , Indian Producers offered price rise wef 1o th Jan'20 ,which was in line with initial expectations driven by improved local demand, ongoing tightness across region & recent crude oil fluctuations.

As per industry experts ,Indian govt. may increase custom duty on imports during next budget.Considering current scenario , Geo Political unrest & other price governing factors - Polymer procurement is advised.

 PET : Weekly Report & Future Trend- 2nd Week January 2020.

🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed higher by 3.55% at $ 68.60/bbl while WTI closed higher by 3.06% at $ 63.05/bbl. Oil prices were already trending higher when the EIA released its weekly petroleum status report, pushed up by news about a U.S. air strike in Baghdad that killed a high-ranking Iranian military commander. This is the latest move in a fast escalation in the Middle East that has already sparked worry about the security of supply from the world’s number-one exporting region.

🔷 China Bazaar :
🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 30/12/19): 6575
✅Friday Closing ( 03/01/20): 6562
✅Week On Week Difference : Down 0.19%

🔷 Indian Bazaar :
On account of recent developments of conflict between USA & Iran - Crude OIL prices soared more than 4 % after a US airstrike killed Iranian General Qassem Soleimani. Assumptions are being made to observe hike in global polymer offers -if situation isn't improving & tension continue to remain.

Indications are coming in news to witness price rise in day ahead supported by ongoing higher crude price, changing global equations & other price governing factors. At current rate ,we advise to step in to procurement, Indian producers may revise prices upward.


PET : Weekly Report & Future Trend- Week 1st January 2020.

🔹 Crude Oil Scenario:
On Friday, Brent Crude closed higher 0.35% at $ 68.16/bbl, while WTI closed higher 0.06% at $61.72/bbl, finished a holiday-shortened week near a three-month peak, after a report showed a bigger-than-expected decline in U.S. stores of crude and its byproducts.EIA data also showed supply increases of 1.963 million barrels for gasoline stocks and a decline of roughly 152,000 barrels for distillates. U.S. energy reports were delayed this week due to the Christmas holiday. OPEC+ may consider ending a pact to reduce global production next year.

🔷 China Bazaar : 

🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 23/12/19): 7007
✅Friday Closing ( 27/12/19): 6575
✅Week On Week Difference : Down 1.31%

🔷Indian Bazaar : 
Buying pulse is improved with an approach to build inventories at current price level.Based on current scenario, changing global equations & other price governing factors ,Polymer buying is advised.

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

🔹 Crude Oil Scenario:
On Friday, Brent Crude closed higher by 1.59% at $ 65.22/bbl while WTI closed higher by 1.50% at $ 60.07/bbl. The U.S. and China said they have reached a preliminary agreement on a phase one trade agreement. The lack of a trade agreement had been a major headwind to crude demand, but oil prices got a boost Thursday when President Donald Trump tweeted that the U.S. was “getting VERY close to a BIG DEAL with China.”

🔷 China Bazaar : 

🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 16/12/19): 6525
✅Friday Closing ( 20/12/19): 6662
✅Week On Week Difference : Up 2.11%

🔷Indian Bazaar : 
Local demand is picking up in bottle grade & other variants of PET. Latest offers for CIF NS is assessed at $870-880 /mt for January 2020 shipments. After touching multi year low , price trend seems to be recovering from current levels. Processors are submitting their positive remarks as far as demand in finished is concerned.

Indications are coming in news to witness price rise in day ahead supported by ongoing higher crude price, changing global equations &  other price governing factors. At current rate ,we advise to step in to procurement, Indian producers may revise prices upward wef 1st Jan'20.


PET : Weekly Report & Future Trend- Week 3rd December 2019.
🔹 Crude Oil Scenario:
On Friday, Brent Crude closed higher by 1.59% at $ 65.22/bbl while WTI closed higher by 1.50% at $ 60.07/bbl. The U.S. and China said they have reached a preliminary agreement on a phase one trade agreement. The lack of a trade agreement had been a major headwind to crude demand, but oil prices got a boost Thursday when President Donald Trump tweeted that the U.S. was “getting VERY close to a BIG DEAL with China.”

🔷 China Bazaar : 

🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 9/12/19): 6450
✅Friday Closing ( 13/12/19): 6525
✅Week On Week Difference : Up 1.16%

🔷Indian Bazaar : 

This week, Latest offers of bottle grade PET assessed stable for CIF Nhava  seva, Mumbai.Buying pulse is poor with an approach of wait & watch from processors. Buyers aren't ready to enhance their stock & planning to book minimum inventory .After studying current scenario & other price governing factors buying is suggested for routine requirements.

PET : Weekly Report & Future Trend- Week 2nd December 2019.
🔹 Crude Oil Scenario:
On Friday Brent Crude closed higher 1.58% at $64.39/bbl while WTI closed higher by 1.32% at 59.20/bbl. U.S. prices up more than 7% for the week to mark their highest weekly percentage climb since June. Prices got a lift after the OPEC+ announced an agreement to cut production by an additional 500,000 barrels a day starting in January. Including the 1.2 million barrels in reductions under the current pact, that will bring total output cuts to 1.7 million barrels a day from October 2018 levels.

🔷 China Bazaar : 

🔷 PET Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 2/12/19): 6450
✅Friday Closing ( 6/12/19): 6450
✅Week On Week Difference : Stable

🔷Indian Bazaar : 
Demand tone from processors is picking up with an announcement of rolled over by local producers.At international bazaar -Prices are shifting to stable to firm ,however last 2 weeks of month may witness softness on account of de stocking exercise before financial year-end. 

Based on recent development , With 1st January 2020-international freight charges are likely to be increased on account of IMO ( International Maritime Organisation ) regulation.As per regulation, shipping companies will have to shift their usage of gasoline with low sulfur percentage. ( 0.5% M/M against current used fuel of 3.5% ). Implementation of above regulation will invite hike in shipping charges by approximately  US $ 10-15 /mt ,which will result in higher landing cost allowing polymer price to rise.

Referring to recent set of variants which effects Polymer's price -buying at current levels is advisable.

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

🔹 Crude Oil Scenario:On Friday, Brent Crude closed lower by 2.25% at $ 62.43/bbl, while WTI closed lower by 5.06% at 55.17/bbl. U.S. crude stocks swelled by 1.6 million barrels last week as production hit a record high at 12.9 million barrels per day and refinery runs slowed. Tensions rising between U.S. & China further dampen the demand prospects for Crude and pushed the prices lower. Bazaar will have a keen watch on the upcoming OPEC+ meeting for cues on their approach in the coming months.
🔷 China Bazaar : 

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 25/11/19 ) : 6437
✅Friday Closing ( 29/11/19 ) :6450
✅Week On Week Difference : Up 0.19% 

🔷Indian Bazaar : 
This week Bottle grade PET material offers were assessed stable ,which has allowed Indian Producers to revise prices rolled over wef 1st Dec.2019.Bazaar confirms ample availability of PET grades of multiple origin with attractive prices.Now Processors are ready to step in for inventory building at current level,with a close watch over price governing factors. International producers will intend to clear stock positions in last calendar month of December,which may result in further softening of commodity trend.

Status of Demand /Supply , International offers & seasonal demand in finished producers are major trend drivers which will give direction for next revision. Based on current scenario , Polymer Buying is advisable at current level.

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


🔹 Crude Oil Scenario:On Friday, Brent Crude oil closed lower by 0.91% at 63.39/bbl, while WTI Closed lower 1.38% at 57.77/bbl. Oil pared its third weekly advance amid mixed signals on a trade agreement between the U.S. and China, which would end an impasse that has weighed on the global economy and fuel demand. The EIA on Wednesday reported that U.S. crude supplies rose by 1.4 million barrels for the week ended Nov. 15. That followed increases in each of the past three weeks.
🔷 China Bazaar : 

🔷 PET Spot Bazaar offers( RMB/MT)

✅Monday Opening ( 18/11/19 ) : 6500
✅Friday Closing ( 22/11/19 ) :6425
✅Week On Week Difference : Down 1.15% 

🔷Indian Bazaar : 
On account of falling global prices & silence in seasonable demand this week , PET prices remain under pressure. Producers are willing to reduce their inventory levels by offering Sp. discounts for quantity buyers. Bazaar seems to be over supplied with imported cargoes -allowing buyers to negotiate further & dictate favorable terms.
Buying activities are restricted up to need base & converters are following cautious procurement exercise. Processors are refraining from stepping in to any volume purchases amid expectations of supply escalation in near term as new plant capacities are about to commence their commercial production at neighboring countries. In addition to this, many other PET plants are under process of being on stream during next year.

Overall ,clubbing all factors in to calculation - Need base buying is advisable

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.

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