Jul 8 2010
ICIS pricing, the trusted price reporting service for the global chemical industry, has extended its series of weekly Polyethylene Terephthalate (PET) reports to include the Middle East market.
ICIS's first PET price assessment for the Middle East covers spot prices for bottle grade on quotes for FOB and CFR Gulf Cooperation Council (GCC). The new report captures industry price trends and the key factors influencing them, as well as updates on the status of new plants and projects announced in the Middle East region.
Middle Eastern producers play an increasingly important role in the global PET market with expanding PET production capacities and competitive export prices. A double digit growth rate in the plastic bottling and packaging industry has increased domestic PET consumption which has been met by imports. "These market conditions result in a demand for pricing assessments that offer the industry an authoritative and independent report on the Polyethylene Terephthalate (PET) market in this region." said Yu Guo, Editor of ICIS pricing.
The ICIS pricing weekly Polyethylene Terephthalate (PET) reports covering the Asian, European, USA and Latin America markets are already widely used as references for settling transaction prices.
"With the launch of the Middle East PET report, ICIS pricing now offers PET price reporting in all regions of the world," Steve Tan, Managing Editor added. "We are excited to launch a service that will help industry players make effective pricing decisions for this market."
Source: http://www.icis.com/