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SunSirs: Poor Downstream Demand, China PET Market is Weak

April 12 2021 10:59:14     SunSirs (Selena)

According to the data monitored by SunSirs, as of April 8, the quotation of PET water bottle manufacturers was 7,166.67 RMB/ ton, the market focus of PET bottle chips was stable, the transaction atmosphere was general, pet cost support was insufficient, and the overall market was weak.

The price of PET raw materials is weak, the upstream support is insufficient, the downstream demand is flat, and the market transaction is flat. At present, the mainstream reference price in North China is 7,100-7,300 RMB/ ton. The focus of negotiation is stable. The overall market has a strong wait-and-see atmosphere, and the purchasing enthusiasm is general.

The upstream ethylene glycol is weak, the price is low, the market trading atmosphere is flat, and the support for PET cost is weak. The glycol index: on April 7, the commodity index of ethylene glycol was 51.79, which was the same as the previous day, down 50.62% from the peak point 104.87 (2011-09-18) in the cycle, and 54.46% higher than the lowest point of 33.53 on April 02, 2020. (Note: period refers to 2011-09-01 to now)

SunSirs PET analysts believe that: the upstream raw material price is low, the downstream demand is insufficient, the overall market is weak, the PET market maintains weak operation in a short time, and the rising trend is not obvious.

 

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