Increasing Purified Terephthalic Acid Cost Pressure Send Wave of Optimism in India Polyethylene Terephthalate Market
After a sluggish end to 2021, Indian Polyethylene Terephthalate (PET) market has shown early signs of recovery on the back of strong feedstock Purified Terephthalic Acid (PTA) values in 2022. Both Purified Terephthalic Acid and Polyethylene Terephthalate markets have gained significantly in early assessments of Q1 2022. Purified Terephthalic Acid prices have increased by 3.5% in the last week of January since the conclusion of Q4 2021 on Ex-location basis while Polyethylene Terephthalate market has risen by 6.7%. Increasing cost pressure from PTA has prompted market participants to opt for price spike in Polyethylene Terephthalate values. Improvement in feedstock Purified Terephthalic Acid has been termed as timely by several market participants after sluggish Q4 2021 where market observed significant deterioration in values. Market participants have been revelling in the bullish rally of Purified Terephthalic Acid values and are optimistic about Polyethylene Terephthalate market. ...