The demand dynamics of PET is still in favor of the producers globally and is likely to be the case for the next 3 quarters. However, New supply hitting the markets are sure to bring the realizations down as operating margins in a commodity is not possible.
Besides the input prices ( PET and MEG) are crude derivatives which doesn't augur well for them at this point of time.
Current realizations could be deceptive, and the bigger is the record of rewarding investors-each time the Poly Film producers hits a cyclical peak, they end up announcing expansion plans which bring the demand-supply dynamics once again into the negative.
So all the vaunted cash on the books of the Poly film producers may gladden the heart of investors, but that money remains basically assigned to the promoter group which have no interest in sharing it or passing it on to the minority shareholders.
The foursome that comprise Bopp films in India may continue to hit new lows.
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