Price trend

According to the analysis system of the commodity market of SunSirs as of April 17th, the price trend of water bottle grade PET was upward, with a slight increase in price. Compared to the same period last week, the price increased by 3.35%, and the average price was 7,896.00 RMB/ton. The mainstream price was around 7,900 RMB/ton. The PET market had a balanced supply and demand, and the focus of negotiations was upward.

Analysis review

From the weekly K-bar chart of PET, it can be seen that since 2023, the price of PET has shown a continuous upward trend. In the first quarter, the overall market supply of PET was tight, and the price increase was significant. In early April, the PET market experienced another rise after a narrow and weak trend. The boost in raw materials and strong cost support had driven up the focus of negotiations in the PET market, leading to higher prices.

In terms of demand: The overall market negotiation atmosphere for PET was good, and the focus of negotiations went up. The supply of goods was tight in the first quarter; Entering the second quarter, demand recovered, terminal operating rates increased, raw material cost support was strong, and downstream procurement enthusiasm had increased.

Upstream: The PTA price of upstream raw materials was stronger, and the market situation had slightly increased. As of the 17th, the supply side was sufficient, and cost pressure still existed. In the short term, it will maintain a stable and stronger trend. Upstream ethylene glycol had a narrow and stronger trend, with a positive trend in the short term. Supply side pressure increased, and some companies had maintenance plans.

Market outlook

PET analysts from Business Society believe that the PET market is expected to maintain a stronger trend in the short term, and demand support remains.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.