SunSirs: The PET Market Operated to Weaken Narrowly (May 23-30)
May 31 2023 14:22:19 SunSirs (John)
Price trend
According to data monitored by SunSirs, as of May 30th, the price of water bottle grade PET had been in a weak trend, with an average price of 7,290.00 RMB/ton. This week, the price of PET was mainly weaker in a narrow range, with a slight decrease of 0.68% compared to the same period last week. The mainstream price was around 7,200 RMB/ton, and the overall market negotiation center declined.
Analysis review
The domestic PET price was weaker in a narrow range. As of 30th, the mainstream price was around 7,200 RMB/ton, and the overall market was stable with a weaker trend. The focus of negotiations was stable, and manufacturers were actively shipping. Downstream procurement was on demand, logistics was smooth, and manufacturers offered discounts to sell. PET enterprise quoted: Jiashan Plastic Trading Co., Ltd. 7,200 RMB/ton, Shanghai Hongqi Plastic Technology Co., Ltd. 7,700 RMB/ton, and Zhejiang Wankai 7,400 RMB/ton.
Rubber and Plastic Commodity Index: On May 29, the rubber and plastic index was 645 points, an increase of 1 point from the previous day, a decrease of 39.15% from the highest point of 1,060 points (2012-03-14) in the cycle, and a 22.16% increase from the lowest point of 528 points on April 6, 2020. (Note: The cycle refers to the period from December 1st, 2011 to the present).
Market outlook
PET analysts from SunSirs believe that the PET market is expected to operate steadily in the short term.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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- 2024-04-07 SunSirs: Strong Cost Support, China PET Market Prices is Rising
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