Polyethylene terephthalate (PET) bottle grade prices in the Gulf Cooperation Council (GCC) region remained unchanged this week, as market participants adopted a cautious stance amid geopolitical uncertainty and muted trading activity.
According to a regional industry source, “Prices of PET stayed consistent as purchasers refrained from making large acquisitions pending new import offers from international suppliers. Market activity was quiet, as participants took a wary approach due to ongoing geopolitical tensions. Specifically, worries regarding a potential resurgence of conflict between Israel and Iran have led to buyer reluctance, as many are apprehensive about possible disturbances to trade and logistics.”
Despite companies gradually resuming operations after the summer break, the prevailing sense of caution limited restocking efforts, with September expected to remain subdued unless buyers gain confidence in stable supply chains.
On Friday, PET resin bottle grade prices were assessed at USD 840–890/mt CFR GCC, unchanged from the previous week. Chinese suppliers were heard offering cargoes around USD 840/mt CFR GCC, while import offers from Middle Eastern producers were quoted closer to USD 890/mt CFR GCC. The narrow spread between regional and international offers left buyers with little incentive to accelerate purchases, further reinforcing the market’s wait-and-see approach.
Market participants added that the GCC PET market continues to mirror broader global trends, where weak downstream demand in packaging and beverages is capping any potential upside. Until demand improves or supply-side disruptions emerge, PET prices in the region are expected to hover within the current range.
