SunSirs: The Main Impact Was on the Cost Side, with China PET Bottle Flakes First Suppressing and then Rising Last Week (November 3-7)

According to the latest market information, the PET bottle chip market showed an overall trend of first suppressing and then rising last week. According to data from SunSirs, on November 7th, the average selling price of PETT was 5,780 RMB/ton.

At the beginning of last week, the price of PET bottle chips fell under pressure, mainly due to the game between low PTA processing fees and abundant spot goods, coupled with the recovery of supply side oPETrating rates, while downstream is in the off-season with light demand. Starting from Thursday, stimulated by rumors of PX plant maintenance, the raw material side has strengthened, driving the rebound of bottle chip prices. As of November 7th, the East China market closed in the range of 5,700-5,800 RMB/ton, with a weekly average price of 5,744 RMB/ton, a slight decrease of 0.23% compared to the previous month.

Cost driven factors led to the weakening of crude oil prices at the beginning of the week, dragging down the price of PET bottle chips. Later, geopolitical risks drove oil prices to rebound, and cost support rebounded, driving up the price of bottle chips. The most direct trigger for last Thursday's rebound was rumors of PX plant maintenance, which increased market exPETctations of a tightening in raw material supply and thus drove up bottle chip prices from the cost side.

Despite rising costs, the market supply is relatively loose in maintaining loose supply. Last week, the utilization rate of domestic PET bottle production capacity remained at 72.59%. Although some facilities in southern China are undergoing maintenance, there have also been facility restarts in eastern China, resulting in overall capacity hedging and minimal changes in supply.

The demand is currently in the seasonal off-season, and downstream demand is the main factor suppressing prices. The industry is in a seasonal off-season, and downstream factories mainly rely on rigid demand to replenish inventory, lacking enthusiasm for large-scale stocking, which restricts the upward space of bottle chip prices. The export data in September also provided evidence for the weak demand side, with the export volume of PET bottle flakes reaching 467,700 tons, a decrease of 10.18% compared to the previous month.

Overall, SunSirs believes that the PET bottle chip market will continue to fluctuate in the short term and may oPETrate steadily with a moderate to warm trend. Main oPETrating range: It is exPETcted that the price will fluctuate within the range of 5,700-5,900 RMB/ton in the short term.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.