Price trend

According to the analysis system of the commodity market of SunSirs, as of October 20th, the price of water bottle grade PET had been weak, with a narrow downward trend, with an average price of 7,190.00 RMB/ton, a decrease of 0.55% compared to the same period last week. The market supply and demand were balanced, and as of October 20th, the mainstream price was around 7,200 RMB/ton.

Analysis review

This week, the domestic PET price was weaker, with a 0.55% decrease compared to the same period last week. As of October 20th, the focus of negotiations was relatively low, with the mainstream price around 7,200 RMB/ton. Downstream restocking was on demand, and the purchasing atmosphere was average. Manufacturers mainly offered discounts to sell, while upstream costs lacked support. Latest quotation from PET enterprises: Jiashan Plastic Trading Co., Ltd. quoted 6,900 RMB/ton, Shanghai Shangxinrun New Materials Co., Ltd. quoted 7,450 RMB/ton, and Shanghai Hongqi Plastic Technology Co., Ltd. quoted 7,500 RMB/ton.

Rubber and Plastic Index: On October 19th, the rubber and plastic index was 677 points, a decrease of 2 points from the previous day, a decrease of 36.13% from the highest point in the cycle of 1,060 points (2012-03-14), and an increase of 28.22% 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 be weaker in a narrow range in the short term, with prices slightly decreasing and maintaining around 7,200 RMB/ton.

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