According to the price data from SunSirs, the price of PET bottle flakes (PET) first stabilized and then increased last week, rising from 5,985 RMB/ton at the beginning of the week to 6,035 RMB/ton, with a weekly increase of 0.84%.

On July 18th, crude oil and polyester raw materials rose, driving a slight increase in the price of PET bottle chips. The cost side support for PET was strengthened, and coupled with the tight circulation of local spot goods, the PET market price rose accordingly.

In July, major PET bottle chip manufacturers reduced production, with Wankai New Materials reducing production by 20%, involving a production capacity of 600,000 tons. Several companies are planning to reduce production by approximately 2.56 million tons. The expectation of reduced production on the supply side has tightened market liquidity, which has a certain supporting effect on prices and is one of the factors driving price increases in the later stage. Although July to September is the peak season for soft drink consumption, downstream beverage factories usually stock up in advance. However, from the actual situation, the demand side performance is relatively flat and has not formed strong support for prices. On July 18th, although the market rose due to rising costs, insufficient demand limited the increase. Downstream wait-and-see is the main trend, and traders and end-users have a low willingness to replenish. Transactions are mainly based on small orders for essential needs, and the acceptance of high priced goods is limited.

Overall, SunSirs believes that the narrow adjustment of PET market prices in the short term is mainly influenced by raw material prices. 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.