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Updated to Q4 2018
UAE producer JBF RAK’s PET plant has been shut since June 2017 and there are no updates about when the producer will restart it. Oman producer Octal’s PET plant was shut on 25 May and gradually resumed operations in end-June and early July. The region continued to rely on imports from Asia, primarily India and China. Towards the end of the quarter, prices of Chinese PET imports became more competitive due to faster price drop as compared to other Asian sellers.
Demand in the Middle East was generally slow amid weak market sentiment. Buyers were cautious as prices saw big and steep fluctuations. There was Eid ul-Adha in the quarter that kept purchasing slow for some weeks. The hot summer season drove a slowdown in end-consumption of bottled beverages as the population tends to travel out of the region due to too hot weather and school closures. Demand was slow to pick up after the summer vacation period.
We offer the following regional Polyethylene terephthalate analysis and news coverage to keep you informed of factors and developments affecting prices in the Middle East Polyethylene terephthalate marketplace.
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ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
Over 25 years of reporting on key chemicals markets, including Polyethylene terephthalate, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.
Polyethylene terephthalate (PET) exists both as an amorphous (transparent) and a semi-crystalline (opaque and white) thermoplastic, and can be made into either a resin or a film.
The ICIS Middle East polyethylene terephthalate or PET weekly report covers spot prices in the GCC or Gulf Cooperation Council on a cost and freight (CFR) as well as free on board (FOB) basis. Information on delivered domestic prices is included in the report and the market fundamentals are also discussed in depth.
ICIS offers an overview of the Asia Pacific market and examine if its price trends are impacting the Middle East.
Information on key feedstock markets of purified terephtalic acid (PTA) and monoethylene glycol (MEG) is also provided.
ICIS engages with an extensive network of producers, traders and consumers of PET bottle-grade chips to ensure that we report on and deliver the most representative and accurate price assessments that can facilitate better decision making for our customers.
It is a fairly new report and is an important source of reference for our customers.
ICIS collects pricing data on a wide range of chemical, energy and fertilizer products, including Polyethylene terephthalate. Our extensive experience in price reporting means we can offer you access to historical data dating back more than 20 years for certain commodities.
Our time series of pricing data enables you to build and model trends, to get a view of where markets might be heading. The data service includes charting functionality, allowing you to chart and download multiple data series for manipulation in your own internal models. You can also export data to Excel via the ICIS dashboard service.