Recently, the PET bottle grade market has rebounded from its decline. According to the commodity market analysis system of SunSirs, as of March 5th, the domestic PET bottle grade price was 7,250 RMB/ton, an increase of 0.69% compared to the previous day, and an increase of 0.42% compared to the end of February. Currently, the mainstream price is around 7,300-7,400 RMB/ton.
During the Spring Festival, the demand for crude oil and other products increased, and the prices of PET raw materials continued to rise, leading to an increase in PET costs. However, due to weak cost support, coupled with sustained high PET inventories, and weak demand in the post holiday PET market, the PET market still showed a weak adjustment stage from the end of February to the beginning of March, with no obvious upward trend in prices. After the holiday, terminal demand slowly recovered, and the negotiation center operated at a low level, March has ushered in the traditional peak season. In March, the supply of PET has steadily increased, and demand is gradually recovering. It is expected that there will be further improvement in demand in March.
From late February to early March, the PET raw material PTA market was in a weak consolidation stage, with market prices mainly fluctuating and adjusting. Moreover, crude oil products that affect the cost side prices also maintained a weak operation. The PTA supply side was relatively stable, and there was no significant downward trend on the cost side. PET had weak support on the cost side and high inventory, so the overall trend was a weak adjustment. Recently, international crude oil prices have risen, with obvious positive support. PET has certain support on the cost side, In addition, downstream demand is gradually recovering, so the PET market is showing a strong trend.
After the RMBxiao (Filled round balls made of glutinous rice-flour for Lantern Festival) Festival, the market demand for polyester bottles and chips has obviously recovered, the purchasing atmosphere is positive, and the willingness to pick up goods has been strengthened. At present, the overall PET delivery market has been improving all the way, the inventory side has been consumed normally, the operating rate has been stable, and the profit has also been significantly improved. In addition, the PET packaging and sheet industry has entered the peak season. The decoration season is coming, and the demand has slowly recovered. At present, the overall market shows a sustained and stable growth demand.
According to PET analysts from SunSirs, the current supply of PET spot is relatively sufficient, and terminal demand is slowly increasing. Under the game of cost and supply and demand in the short term, the fluctuation range of PET prices is limited. Operators are cautious and expect the PET market to maintain a strong and volatile operation in the short term. It is necessary to constantly monitor the cost side trend and the inventory consumption situation of factories.
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