SunSirs: The PET Market Price Was Stable and Slightly Weaker (August 17-24)
August 25 2023 09:00:31 SunSirs (John)
Price trend
According to the analysis system of the commodity market of SunSirs, as of August 24th, the price of water bottle grade PET was stable, with an average price of 7,320.00 RMB/ton. Compared to the same period last week, the price was mainly stable, and the market supply and demand were balanced. As of August 24th, the mainstream price was around 7,200 RMB/ton.
Analysis review
This week, the domestic PET price remained stable and weaker, with a narrowly weaker trend compared to the same period last week. As of August 24th, the focus of negotiations remained stable, with the mainstream price around 7,200 RMB/ton. Downstream restocked as needed, with a general negotiation atmosphere, and manufacturers mainly offered discounts for sales. Upstream cost support was average, mainly operating stably. The latest quotation from PET enterprises: Shanghai Shangxinrun New Materials Co., Ltd. offered a price of 7,350 RMB/ton, Shanghai Hongqi Plastic Technology Co., Ltd. offered a price of 7,000 RMB/ton, and Hainan Yisheng offered a price of ,7100 RMB/ton.
Rubber and Plastic Index: On August 23, the rubber and plastic index stood at 674 points, an increase of 2 points from the previous day, a decrease of 36.42% from the highest point in the cycle of 1,060 points (2012-03-14), and an increase of 27.65% 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 be weaker in a narrow range in the short term, with prices remaining around 7,200 RMB/ton.
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