SunSirs: Raw Material Trend Downwards, PET Cost Support was Poor and Weak

According to the data monitored by SunSirs, as of March 11, the quotation of PET water bottle manufacturers was 7,600.00 RMB/ ton, the PET bottle chip market was stable, the price was reduced to varying degrees, the PTA Market of raw materials was in a downward trend, the pet was in a narrow range, and the negotiation atmosphere was general. Due to the large price increase in the previous period, the PET price was still rising as of March 11 compared with the same period last month. The price of PET increased by 0.22% compared with the same period last week. The recent trend of pet is mainly weak and stable.

Recently, the price of PET raw materials has declined slightly, the overall pet market is weak, the cost side support is poor, the negotiation atmosphere is flat, the downstream demand quantity is limited, and the traders reduce the price to ship. At present, the mainstream reference price in North China is 7,400-7,600 RMB/ ton, the negotiation focus is stable, the reference price is 6,700-7,200 RMB/ ton, and the reference price in North China is 7,000-7,200 RMB/ ton. The overall market atmosphere is strong and the cost support is weak.

On March 10, the PTA commodity index was 43.60, down 1.56 points from the previous day, down 58.04% from 103.92 points (2011-09-15), the highest point in the cycle, and up 44.90% from 30.09 points, the lowest point on April 22, 2020. (Note: period refers to the period from September 1, 2011 to now)

The upstream PTA showed a trend of weak operation. According to the data of SunSirs, the chemical industry index on March 10 was 1,049 points, up 4 points from the previous day, reaching a record high in the cycle, up 75.42% from the lowest 598 points on April 8, 2020. (Note: period refers to the period from December 1, 2011 to now)

SunSirs PET analystsbelieve, the focus of recent PET raw material market negotiation is low, the pet market has a downward trend, the price has a slight downward trend, the overall market runs smoothly, and it is expected that China PET bottle chips will be weak in a narrow range in the short term.

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