SunSirs: China Domestic PET Market turned Weak in a Narrow Range (August 10-18)

According to the data monitored by SunSirs, as of August 18, the pet price of pet water bottle level in this week was operating in a narrow range, with the current average price of 8,980 RMB/ ton. The overall market was operating in a narrow range, the focus of negotiation was stable, the market supply and demand were balanced, and the logistics delivery was smooth.

The domestic pet price is operating in a narrow range and weak. This week, the price has been reduced slightly. At present, the market operation rate is normal, the manufacturers are active in shipping, the logistics is smooth, the profit is given away, the market transaction atmosphere is general, the negotiation atmosphere is acceptable, the downstream readiness is general, and the cost is lack of support. At present, the mainstream price is about 8,900 RMB/ ton. This week, the price has been reduced slightly. In the short term, pet is stable, medium and weak. The latest quotation of the enterprise: Shanghai quyi Industrial Co., Ltd. is 8,900 RMB/ ton, Shanghai Hongqi Plastic Technology Co., Ltd. is 8,900 RMB/ ton, and Jiangsu Sanfangxiang Group Co., Ltd. is 8,900 RMB/ ton.

Upstream ethylene glycol: as of August 17, the spot price of ethylene glycol in the South China market was 4,150 RMB/ ton, which was the same as that of the previous trading day and decreased by 38.33 RMB/ ton compared with last week.

SunSirs rubber and plastic commodity index: on August 17, the rubber and plastic index was 701 points, down 1 point from yesterday, down 33.87% from the highest point 1,060 points in the cycle (March 14, 2012), and up 32.77% from the lowest point 528 points on April 6, 2020. (Note: the period refers to December 1, 2011 to now).

SunSirs PET analysts believe that the PET market is expected to operate in a narrow range in the short term.

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