Anti-Dumping Duties Reshape PET Market Amid Weak Asian Demand
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The PET market is experiencing adjustments in supply and demand due to global anti-dumping measures, with prices in India and China under pressure. Lower naphtha prices in Europe, reduced operational capacity in Asia, and upcoming plant maintenance in India contribute to market volatility. Industry experts foresee further fluctuations driven by regulatory and operational dynamics.
Key Takeaways:
- Domestic and international PET prices remain subdued, with Indian PET prices at ₹91,000 per metric ton and Chinese spot PET at 6,292.50 RMB per metric ton.
- Anti-dumping duties by India and the EU against China are influencing global trade flows, potentially impacting PET prices and availability.
- Lower upstream naphtha prices and plant maintenance schedules are also shaping PET market trends.
Current PET Price Trends in India and China
- In India, the price for PET of type 81-84 from Reliance, grade RELPET G5841, is listed at ₹91,000 per metric ton at locations in Bhiwandi and Mundra.
- Meanwhile, in China, the spot price for PET in the rubber and plastics sector is recorded at 6,292.50 RMB per metric ton for both November 11 and 12, 2024.
PET Supply and Demand: Impact of Anti-Dumping Duties on PET Trade Flows
- The supply and demand for Polyethylene Terephthalate (PET) are impacted by anti-dumping duties imposed by various countries.
- In Europe, the European Commission has implemented provisional anti-dumping duties of 6.6% to 24.2% on PET imports from China to protect European producers.
- Similarly, the Indian government has imposed anti-dumping duties on PET imports from China, ranging from $60.92 to $200.66 per tonne, to support domestic manufacturers.
- These anti-dumping duties have shifted trade flows, with some Chinese PET producers targeting other markets to avoid these duties. This shift could influence global PET prices and availability.
Polymer News: Key Updates in the Global Polymer Market
- Naphtha prices opened lower at US$ 625 per MT in Europe.
- Petronas Chemicals MTBE is operating its PDH Plant at 83% capacity from November until December 2024 in Kuantan, Malaysia.
- Weilian Chemical has shut its Purified Terephthalic Acid (PTA) plant for maintenance in Dongying, China.
- Reliance Industries Ltd. (RIL) is planning to shut its Acrylonitrile (ACN) plant for maintenance in mid-November 2024 in Vadodara, India.
Expert Opinion on PET Supply and Demand Outlook
Prices edged lower due to weaker upstream energy values and bearish buying activity in the Asian region. Overall, PET supply and demand are influenced by anti-dumping duties, trade flows, and market dynamics, which may lead to global fluctuations in PET prices and availability.
Daily Market Report
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