PET buyers in India expect the open market price to go up considerably after recent upward price revision for PET by Reliance Industries Limited (RIL). RIL hiked its PET price on account of the price of the principal feedstock-PTA-has been moving up in key Asian regions.Stocks of the PET material are available in the markets to cater to the demand, which is significantly strong due to active manufacturing of beverage bottles.
A Mumbai based trader, with whom Indianpetrochem discussed today about the on-going PET market trend, said, "Demand for the PET material has been satisfactory since last few days and it is expected to strengthen in the near future. He was selling PET, of RIL, at around Rs119-121 a kg.
A trader in the Ahmedabad market also reveals a similar market situation with respect to the polymer material. He was selling imported PET, at around Rs111-113 a kg.
By, yogender.singh@indianpetrochem.com
A Mumbai based trader, with whom Indianpetrochem discussed today about the on-going PET market trend, said, "Demand for the PET material has been satisfactory since last few days and it is expected to strengthen in the near future. He was selling PET, of RIL, at around Rs119-121 a kg.
A trader in the Ahmedabad market also reveals a similar market situation with respect to the polymer material. He was selling imported PET, at around Rs111-113 a kg.
By, yogender.singh@indianpetrochem.com
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