SunSirs: China PET Market Prices Fluctuated Last Week (February 17-21)

According to the Commodity Market Analysis System of SunSirs, as of February 21st, the average sales price of PET was 6,360 RMB/ton, and the market price fluctuated this week.

Cost wise: Crude oil prices have risen. As of 0:00 on February 21, the WTI price of US light crude oil was $72.51 per barrel, up 0.57%, and the Brent crude oil price was $76.43 per barrel, up 0.51%. At present, the supply and demand fundamentals of the polyester bottle chip market lack obvious drivers, and prices are expected to mainly fluctuate with costs.

Supply side: Xiamen Tenglong will stop for maintenance over the weekend, and China Resources is expected to restart its equipment to produce high-quality products. Next week, the production of polyester bottle chips may decrease to 292,800 tons. At the same time, the processing fees in the industry are relatively low, and the supply side continues to shrink, resulting in tight spot circulation in some areas.

On the demand side, it is expected that the construction of soft drinks and oil industries will continue to increase, while the PET sheet industry has basically resumed work. Foreign trade shipments have returned to normal, and there are signs of concentrated shipments in the short term.

In response to the current market situation, SunSirs believes that the PET market may have limited volatility in the short term, and overall presents a narrow adjustment pattern. The actual trend still needs to pay attention to the follow-up equipment, demand situation, and cost support under the traction of crude oil.

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