SunSirs: Weak Operation of China Domestic PET Market

According to the data monitored by SunSirs, as of July 20, the price quoted by pet water bottle manufacturers was 5,500 RMB/ ton, which was 1.79% lower than that in the same period last week. The focus of negotiation is low, and most enterprises have lowered their prices. At present, the mainstream price range is 5,400-5,500 RMB/ ton.

PET market is in a weak position, with high inventory, low negotiation atmosphere, insufficient follow-up of downstream demand, and inactive purchasing attitude. Most of them just purchase by need, international crude oil continues to decline, and polyester bottle chip supply is further increased. At present, the mainstream manufacturers in East China offer around 5,400-5,500 RMB/ ton, the mainstream market negotiation is around 5,300-5,400 RMB/ ton, and the current price of Xiamen Tenglong is 5,500 RMB/ ton, Guangdong Taibao 5,500 RMB/ ton, Zhuhai China Resources 5,500 RMB/ ton, Zhejiang Wankai 5,500 RMB/ ton, Yizheng Chemical fiber 5,400 RMB/ ton, the demand is difficult to ease, the raw materials lack of good support.

The upstream PTA market continued to operate at a low level, and the weakness was explored. It was difficult to form a good support for the PET cost. The market negotiation focus was weak, and the main idea was to wait and see carefully. The raw material ethylene glycol was in a weak position. The price dropped, the center of gravity moved down, and the number of transactions was limited.

On July 19, the rubber and plastic index was 621 points, unchanged with the previous day, down 41.42% from 1060 (2012-03-14), and 17.61% higher than the lowest point of 528 on April 06, 2020. (Note: period refers to 2011-12-01 to now)

PET analyst of SunSirs believes: PET market maintains a downward trend in the short term, and the fatigue is hard to change. (the above prices are provided by major pet manufacturers all over the country and analyzed by SunSirs PET analysts for reference only. Please contact relevant manufacturers for more price details.)

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