SunSirs: China PET Water Bottle Price Droped during the Cycle Last Week

https://www.chemnet.com   Aug 20,2024 SunSirs

According to the commodity market analysis system of SunSirs, the price of PET water bottle grade fell last week, and as of August 18th, the average price of PET water bottle grade was 6,920 RMB/ton.

In last week's raw material market dynamics, despite the initial rebound in the crude oil market, the PET market was overall weak due to a lack of purchasing power. Entering the middle of the week, the further decline in the international crude oil market and the general decline in polyester raw material prices directly led to the collapse of the cost support system for PET. On the supply-demand side, there is an expectation of stable increase in supply. However, downstream centralized procurement still requires time consumption, and there is insufficient buying gas in the market. Today, the decline in PET market quotations has widened.

As the weekend approaches, with the recovery of crude oil and related raw material prices, coupled with the sudden maintenance of a key production facility, the PET market price has stopped its downward trend.

Specifically in the PTA market, the domestic market experienced a wave of weak and volatile adjustments last week, with the average spot price of PTA in East China dropping to 5,566 RMB/ton, a decrease of 0.59 percentage points from the beginning of the week.

Analysts in the PET field at SunSirs pointed out that given the current weak cost support and relatively loose supply expectations, the PET market may continue to maintain a weak adjustment trend in the short term. However, the final market direction still needs to closely monitor the dynamic changes in the raw material market and whether more production facilities will reduce output due to maintenance in the future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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