On November 1st, the Engineering Plastics Index stood at 713 points, unchanged from yesterday, a decrease of 37.51% from the cycle's highest point of 1,141 points (2018-09-09), and an increase of 25.97% from the lowest point of 566 points on May 6th, 2020. (Note: The cycle refers to the period from December 1st, 2011 to the present)

In October, the prices of various engineering plastics products in China fell four times and rose one. According to the price monitoring of SunSirs, there were a total of 4 products that fell on the list of engineering plastic prices in October 2023, and only 1 product that rose. The falling commodities include PET (-1.24%), PA6 (-1.69%), PC (-2.59%), and POM (-14.12%); The increase is PA66 (+6.12%).

The PET water bottle level market fluctuated weakly throughout October, with narrow price positions leading to a decline. At the end of the month, the industry load increased by a narrow margin of 1% to about 70% compared to the beginning of the month, and the overall supply in the domestic market remained stable. At the end of the month, some companies were delayed in restarting, resulting in a decrease in supply, but the supplier's support for the market was limited. The raw material side PTA and ethylene glycol both fell within the month, and overall support for PET costs is weak. Downstream procurement is just needed, and consumption levels are gradually entering the off-season, leading to a weakening of the negotiation atmosphere. In the context of a dual reduction in supply and demand, the confidence of cargo holders is not strong, and the negotiation atmosphere tends to favor selling at a discount. It is expected that the PET market may continue to operate in a weak and volatile manner in the short term.

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