Last week, PET prices fluctuated weakly. According to the price data from SunSirs, as of June 6th, the average selling price of PET (polyester bottle flakes) was 5,965 RMB/ton.
On the cost side, international oil prices have been affected by factors such as OPEC+ production expectations and US Iran nuclear negotiations, causing Brent crude oil to fall below the key support level of $70 per barrel, dragging down PTA and ethylene glycol prices. PTA spot prices fell to 4,870 RMB/ton, while ethylene glycol spot prices fell below 4,400 RMB/ton.
On the supply side, last week's domestic production was 382,600 tons, a decrease of 6,800 tons compared to the previous week; The capacity utilization rate decreased to 84.64% (month on month -3.7%), mainly due to supply contraction caused by some equipment maintenance. By 2025, the plan is to increase production capacity by 2.15 million tons, with current inventory days reaching 16-18 days (at a high level during the same period). The overall pattern of loose supply has not changed, and prices continue to be suppressed.
On the demand side, although the operating rate of the soft drink industry has recovered to 80% -90%, the inventory of end products remains high, and replenishment is only limited to small orders for basic needs, resulting in insufficient momentum to chase after price increases. In terms of exports, although the export volume in February increased by 27.3% year-on-year to 487,600 tons, the global economic slowdown and overseas anti-dumping investigations have suppressed further growth.
Overall, the weak support on the cost side, coupled with insufficient downstream demand follow-up, is the main reason for the decline in PET market prices. In the short term, the price of polyester bottle chips may continue to fluctuate at a low level. The actual trend still needs to pay attention to changes in external news, device changes, and demand recovery in the future.
If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.
