SunSirs: PET Market Operated in a Narrow Range (February 17-24)
February 28 2023 14:21:43 SunSirs (John)
Price trend
According to the data monitored by SunSirs, as of February 24, the price of bottle-grade PET was narrowly weaker, with an average price of 7,480.00 RMB/ton on the 24th day, a decrease of 0.93% compared with the same period last week, and the mainstream price was around 7,400 RMB/ton. The overall market supply and demand were balanced.
Analysis review
This week, the domestic PET price was weaker, and the price fell slightly. On the 24th, the mainstream price was around 7,400 RMB/ton. Downstream purchased according to demand, the focus of negotiation was stable, the logistics was smooth, the manufacturers were active in shipping, the upstream support was not strong, and the operation was narrow. The latest quotation of DMF enterprises: 7,200 RMB/ton for Jiashan Plastic Trading Co., Ltd., 7,400 RMB/ton for Shanghai Hongqi Plastic Technology Co., Ltd., and 7,250 RMB/ton for Shanghai Quyi Industrial Co., Ltd.
Rubber and plastic commodity index: The rubber and plastic index stood at 684 points on February 23, an increase of 1 point from the previous day, a decrease of 35.47% from the highest point of 1,060 points in the cycle (2012-03-14), and an increase of 29.55% from the lowest point of 528 points on April 6, 2020. (Note: the period refers to 2011-12-01 to now).
Market outlook
PET analysts of Business Agency believe that the PET market is expected to remain stable in the short term, and the mainstream price range is around 7400 RMB/ton.
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