News - PET imports to Russia have dropped almost eight times
At the end of January, the imports of polyethylene terephthalate (PET) to Russia decreased 7.6 times against January 2014 and totaled 3.64 thousand tons, according to the DataScope of the Market Report Company.
The quantities of PET purchased on the foreign markets decreased monthly, starting from May 2014. After the seasonal peak, in September, Russian converters reduced sizably their import purchases. The imports decline was caused by two factors. Firstly, last year the production capacities in Russia were increased (the second line was launched at the Polief Plant to increase the output by 90 thousand tons a year). Secondly, the two-fold depreciation of the ruble resulted in considerably increased costs of import supplies.
As shown by the ICIS-MRC Price Report, although the export prices for PET kept going down in Asia during the past year, the prices for Chinese and Korean PET on the internal market of Russia were much higher than the prices offered by Russian manufacturers of granulate.