PET consumption in Russia increased by 15% in January-July 2016

30 August 2016 10:47 Source:ICIS News

MOSCOW (MRC)--Russias demand for bottle grade polyethylene terephthalate (PET) chips increased to 363,000 tonnes in January-July 2016, up 15% year on year, according to MRC ScanPlast.

PET production in Russia increased by 8% in the first seven months of this year, to 318,000 tonnes.

During the same period, imports of bottle grade PET chips totalled 55,400 tonnes – 44% higher than in the same period last year. The main contracts for the supply of bottle grade PET were concluded on a FOB (free on board) Shanghai basis. The volume of PET imports purchased under FOB Shanghai terms totalled 25,000 tonnes.

The volume of imports of bottle grade PET chips concluded on a CIF (cost, insurance and freight) Vladivostok basis totalled about 15,000 tonnes.

The largest supplier of PET to the Russian market was Chinese company Yisheng Petrochemical, whose deliveries in the reporting period exceeded 24,000 tonnes.

Exports of Russian PET fell by 33% to 11,000 tonnes in January-July 2016, as a result of strong domestic demand. Belarus consumed the lions share of Russian PET in foreign markets. Deliveries to Belarus exceeded 10,000 tonnes.

MRC, a partner of ICIS, produces polymers news and pricing reports from Russia, Ukraine, Belarus, Uzbekistan and Kazakhstan

By Igor Grishenko