SunSirs: Weak Raw Material Support, PET Market is Weak

According to the data monitored by SunSirs, as of March 16, pet water bottle manufacturers had quoted 7,450.00 RMB/ ton. This week, the market of PET bottle chips rose first and then decreased, with narrow finishing. The raw material ethylene glycol fluctuated in a narrow range. The cost support of PET was insufficient, and the overall market was weak.

PET raw material price is weak, market supply and demand is balanced, negotiation focus is stable, inventory is high, pet cost side support is general, negotiation atmosphere is flat, downstream demand quantity is limited, short-term shock finishing is main. At present, the mainstream reference price in North China is 7,400-7,600 RMB/ ton, the reference price in South China is 6,700-7,200 RMB/ ton, the reference price in North China is 7,000-7,200 RMB/ ton, and the reference price in East China is 7,200-7,300 RMB/ ton, the overall market wait-and-see atmosphere is strong, and the purchasing enthusiasm is general.

Rubber and plastic index: on March 15, the rubber and plastic index was 823 points, up 1 point from the previous day, down 22.36% from 1060 points (March 14, 2012), the highest point in the cycle, and up 55.87% from 528 points, the lowest point on April 6, 2020. (Note: period refers to the period from December 1, 2011 to now)

SunSirs PET analysts believe that: lack of raw material support, China PET market in the short term weak operation.

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