PET bottle-grade prices in the Gulf Cooperation Council (GCC) region remained steady this week, assessed at USD 830–880/mt CFR GCC, unchanged from the previous week.
According to an industry source, the market has plateaued despite a noticeable softening in purchasing appetite. Most buyers are adopting a wait-and-see approach, delaying new commitments until updated import offers emerge. This hesitation has stalled market momentum, even as overall prices and demand have maintained relative stability.
Geopolitical concerns continue to cast a shadow over trading activity. Persistent worries about possible escalations between Iran and Israel are keeping buyers cautious and limiting significant transactions in the near term. Despite the subdued trade environment, regional demand is expected to pick up ahead of the fourth-quarter tourism season, when consumption traditionally strengthens.
Chinese producers were heard offering PET resin bottle grade around USD 830/mt CFR GCC, while Middle Eastern suppliers presented offers closer to USD 880/mt CFR GCC, reinforcing the current price band.
