SunSirs: China Domestic PET Market was Narrow and Weak (September 12-19)

According to the data monitored by SunSirs, as of September 19, the price of water bottle grade PET has been operating in a narrow range and weak. At present, the average price is 8,420 RMB/ ton, down 4.32% compared with the same period of the previous week. The overall market is operating in a narrow range and weak. At present, the focus of negotiations is weak, the market shipments are average, and the flow of goods is smooth.

The domestic PET price is narrow and weak. Compared with the same period of the previous week, the price has decreased slightly. At present, the market operation rate is normal, the manufacturers mainly give up profits and take orders, the shipment is positive, the logistics is smooth, the overall market transaction atmosphere is general, the negotiation atmosphere is fair, the downstream readiness is general, and the cost is lack of support. At present, the mainstream price is about 8,500 RMB/ ton, which decreased slightly last week. In the short term, PET is stable and weak. The latest quotation of the enterprise: Jiashan Molai Trading Co., Ltd. 8,350 RMB/ ton, Shanghai Hongqi Plastic Technology Co., Ltd. 8,950 RMB/ ton, and Shanghai Quyi Industrial Co., Ltd. 8,300 RMB/ ton.

Upstream ethylene glycol: As of September 13, the closing price of ethylene glycol in Asian market in CFR China on September 13 was 530 dollars/ton, which was 5 dollars/ton higher than the previous trading day and 6.9 dollars/ton higher than last week.

Rubber and plastic commodity index: On September 18, the rubber and plastic index was 707, unchanged from the previous day, 33.30% lower than the highest point 1,060 (March 14, 2012) in the cycle, and 33.90% higher than the lowest point 528 on April 6, 2020. (Note: the cycle refers to the period from December 1, 2011 to the present).

SunSirs PET analysts believe that China PET market is expected to operate stably in the short term, with a narrow fluctuation.

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