SunSirs: Upstream is in Pressure, PET Market is narrowly Shock
September 03 2021 15:17:17 SunSirs (Selena)
According to the data monitored by SunSirs, as of September 2, the average price of PET water bottle manufacturers was 7,000.00 RMB/ ton. The domestic PET market fluctuated narrowly. Compared with the same period last week, the price fell by 2.78%, compared with the same period last month, the price fell by 5.15%, ranging from 100 RMB/ ton to 150 RMB/ ton. The PET market trend is weak.
This week, domestic PET declined in a narrow range, upstream PTA trend declined, PET cost side support was weak, coupled with the downturn in downstream demand, the focus of PET negotiation decreased slightly, the number of new orders decreased, and traders took a cautious wait-and-see attitude. At present, the mainstream price is about 7,000 RMB/ ton, down 100-150 RMB/ ton compared with the same period last week, maintaining the early trend in the short term.
PTA prices in the upstream fell, with a narrow range, slow follow-up of demand orders and cold negotiation atmosphere. It is expected that the supply and demand situation of PTA will weaken and suppress the market. PTA commodity index: PTA commodity index on September 1 was 48.16, down 0.14 points from yesterday, down 53.66% from the highest point 103.92 in the cycle (September 15, 2011), and up 60.05% from the lowest point 30.09 on April 22, 2020（Note: the period refers to the period from September 1, 2011 to now).
SunSirs PET analysts believe that China PET is expected to continue weak operation and fluctuate in a narrow range in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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