Polyethylene terephthalate (PET) bottle grade prices in the Gulf Cooperation Council (GCC) region registered a decline this week, reflecting the combined pressure of subdued demand and reduced import offers from overseas suppliers. Market participants reported that muted buying activity across the region has coincided with softer import levels, creating conditions that have eroded market strength and made it increasingly difficult for sellers to sustain earlier price points.
Industry sources noted that the primary driver behind the decline was weak consumer interest, which has limited the volume of fresh orders. At the same time, foreign suppliers—particularly those from China and the Middle East—have adjusted their offers lower, intensifying the competitive pricing environment. This influx of more competitively priced cargoes has forced regional sellers to reassess their positions, as the blend of sluggish demand and cheaper alternatives has left buyers in a stronger negotiating position.
Assessments showed PET resin bottle grade prices settling at USD 830–880 per metric ton on a CFR GCC basis, marking a week-on-week fall of USD 10 per metric ton. Chinese producers were reportedly active at the lower end of the spectrum, with offers around USD 830 per metric ton CFR GCC. Meanwhile, producers from the Middle East were heard to be offering at slightly higher levels, near USD 880 per metric ton CFR GCC.
The prevailing weakness in the GCC PET market underscores the challenges facing suppliers in balancing competitive import pressures with inconsistent demand. Unless there is a noticeable improvement in end-user consumption or a shift upward in import price levels, additional downward adjustments cannot be ruled out in the weeks ahead. Market observers are therefore expected to keep a close eye on both regional demand indicators and external trade flows, which together will help define the near-term price trajectory.
