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SunSirs: China PET Market is Down in a Narrow Range and the Demand is Weak
September 09 2021 16:23:55SunSirs(Selena)

According to the data monitored by SunSirs, as of September 7, the average price of PET water bottle manufacturers was 6,900.00 RMB/ ton. The domestic pet market fluctuated narrowly, mainly in the short term. Compared with the same period last week, the price fell by 1.43%, compared with the same period last month, the price fell by 7.13%, ranging from 100 RMB/ ton to 150 RMB/ ton, and the PET market trend was weak.

Domestic pet declined in a narrow range. The decline of crude oil led to the downward trend of upstream PTA, weak support on the cost side of pet, coupled with the downturn of downstream demand, the focus of pet negotiation declined slightly, the number of new orders decreased, and traders took a cautious wait-and-see attitude. At present, the mainstream price is about 6,900 RMB/ ton, down 100-150 RMB/ ton compared with the same period last week, maintaining the early trend in the short term.

The international crude oil fell sharply and the PTA trend in the upstream fell, resulting in a narrow follow-up in the pet market and a weak trend. At present, the supply side circulation is normal, the shipment is smooth, the downstream procurement atmosphere is not positive, the willingness to replenish is not strong, the transaction atmosphere is cold, the contract customers are the main, and the number of new orders is limited.

Rubber and plastic commodity index: on September 7, the rubber and plastic index was 800 points, an increase of 3 points compared with the previous day, a decrease of 24.53% compared with the highest point 1060 points in the cycle (March 14, 2012), and an increase of 51.52% compared with the lowest point 528 points on April 6, 2020. (Note: the period refers to the period from December 1, 2011 to now)

SunSirs PET analysts believe that China PET is expected to be weak in the short term.

 

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