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Updated to Q2 2018
UAE producer JBF RAK’s polyethylene terephthalate (PET) plant remained shut since June 2017 and there are no updates about when the producer will restart its PET plant. Oman producer Octal’s PET plant was shut on 25 May and was gradually resuming operations in end-June and early July. It was heard that a separate GCC producer run its plant at reduced rates, and for a several weeks in the quarter, the plant was shut due to limited feedstock.
Demand in the Middle East was mixed in the second quarter but was overall stable. There was active purchasing pre-Ramadan and better buying interest post-Eid ul Fitr holiday. This nullified the quiet weeks in between the two periods of active discussions due to the shorter working hours and many market players were away from the discussion table. Overall downstream operating rates in the Middle East were robust to cater to the peak summer end-consumer demand for bottles.
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.