SunSirs: Negative Atmosphere Dominates, China PET Bottle Chip Market Is Weak and Declining

According to the price data from SunSirs, the PET bottle chip market operated weakly last week. As of September 5th, the average sales price of PET was 5,897 RMB/ton. Decreased by 1.15% compared to the beginning of the week.

Cost side: Last week, crude oil fell, and the overall cost of PET was weak and fluctuating. The collapse of cost support, coupled with downstream demand to maintain essential needs and replenish at low prices, has resulted in no substantial positive news on the supply and demand side, leading to an expansion of the decline in the PET market. The current situation presents a dual weak pattern of cost and demand, and the cost side has not provided strong support for the price of PET bottle chips, which cannot drive price increases.

Supply side: Mainstream factories continue to reduce production, which provides some support for prices, but the buffering effect of supply regulation is limited, making it difficult to change the overall weak trend.

Demand side: Downstream demand is weak, with rigid procurement being the main focus. After the deep drop in prices on Thursday, some companies bought back their positions on dips, which slightly boosted trading and the overall market lacked the drive to increase volume.

Looking ahead to this week, the cost side is under pressure due to the expected poor quality of the peak season products, and the PET market price may fluctuate narrowly with the cost side in the short term. Terminals are often used and purchased on demand, and the market lacks the drive to increase volume. The actual trend still needs to pay attention to changes in external news, device changes, and demand recovery in the future. The price of bottle slices is expected to fluctuate weakly within the range of 5,800-5,950 RMB/ton.

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