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SunSirs: The PET Market Operated to Be Weaker in a Narrow Range (May 18-25)
May 26 2023 14:17:37SunSirs(John)

Price trend

According to data monitored by SunSirs, as of May 25th, the price of water bottle grade PET was in a weak trend, with an average price of 7,320.00 RMB/ton. This week, PET prices were mainly operating to be weaker in a narrow range, with a slight decrease of 1.08% compared to the same period last week. The mainstream price was around 7,300 RMB/ton, and the overall market negotiation focus was stable.

Analysis review

The domestic PET price was operating to be weaker in a narrow range. On the 25th, the mainstream price was around 7,300 RMB/ton, and the overall market was stable with a weaker trend. The focus of the negotiation was stable, the manufacturer was proactive in shipping, downstream procurement was on demand, logistics was smooth, and the manufacturer was willing to give up profits for sales. PET enterprise quotation: Jiashan Plastic Trading Co., Ltd. 7,200 RMB/ton, Shanghai Hongqi Plastic Technology Co., Ltd. 7,700 RMB/ton, Zhejiang Wankai 7,400 RMB/ton.

Rubber and Plastic Commodity Index: On May 23, the rubber and plastic index was 649 points, a decrease of 4 points from the previous day, a decrease of 38.77% from the highest point of 1,060 points in the cycle (2012-03-14), and a 22.92% increase from the lowest point of 528 points on April 6, 2020. (Note: The cycle refers to the period from December 1st, 2011 to the present).

Market outlook

PET analysts from SunSirs believe that the PET market is expected to operate steadily in the short term.

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