Exports of Russian PET more than halved in Q1 2016

MOSCOW (MRC)–Exports of Russian polyethylene terephthalate (PET) more than halved year on year in the first quarter of 2016 to around 3,000, compared to around 7,050 tonnes in the first quarter of 2015, according to MRC DataScope report.

Lower PET export shipments were caused by a sharp seasonal increase in domestic demand, said Russian PET chips producers. Thus, exports to foreign markets were 8,600 tonnes back in the fourth quarter of 2015.

The lion’s share of export deliveries  was shipped to the Belarusian market this year.

On the back of strong demand from large contract customers in the domestic market, PET producers have reduced their spot sales since March.

Overall exports of Russian PET totalled 28,800 tonnes in 2015. Russia, the USA, Ukraine, Belgium and Poland were the main consumers of Russian PET in foreign markets last year.

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