SunSirs: China PET Water Bottle Grade Prices Show a Downward Trend in August

https://www.chemnet.com   Sep 02,2024 SunSirs

According to the Commodity Market Analysis System of SunSirs, the price of PET water bottles showed a downward trend in August. As of August 30th, the average market price has been adjusted to 6,767 RMB/ton.

In terms of the raw material market in August, PTA prices declined. As of August 29th, the average price of PTA in China was 5,383 RMB/ton, a decrease of more than 7% from the average price of 5,830 RMB/ton in the East China market on August 1st, which failed to provide effective cost support for the PET market. In terms of ethylene glycol, the price range fluctuated this month, first falling and then rising, and the current price is the same as at the beginning of the month.

Overall, PET cost support is average, market demand is weak, and trading activity has significantly decreased, leading to a further decline in the focus of PET futures and spot prices.

In terms of supply, although maintenance and restart coexist, the pressure on the supply side still exists under the expectation of new production. On the demand side, both upstream and downstream demand maintain bargain hunting purchases, and with futures listed, the industry's wait-and-see sentiment is becoming increasingly strong.

In response to the current situation, senior analysts in the PET sector of SunSirs pointed out that due to insufficient cost support and relatively loose supply prospects, the PET market may continue its weak consolidation pattern in the short term. However, the actual trend still depends on the trend of the raw material side and whether subsequent maintenance can be implemented.

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

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