SunSirs: China PET Market Price Weakness Adjustment on October 21

https://www.chemnet.com   Oct 22,2024 SunSirs

According to the commodity market analysis system of SunSirs, the PET market price is adjusted weakly. As of October 21st, the PET factory's quotation has been lowered, and its average market price has been adjusted to 6,347 RMB/ton.

In terms of cost, the crude oil market has seen a recent decline in crude oil prices. According to data from SunSirs, as of October 20th, the average spot price of PTA in the East China region was 4,912 RMB/ton, a decrease of over 200 RMB per ton compared to October 11th. The weakening of cost support and the increase in PTA supply and demand are the main reasons for the price decline. The short-term PTA spot market is mainly consolidating weakly, with crude oil and raw materials continuing to decline, PET currently lacking cost support, and the focus shifting downwards. Coupled with the stable increase in PET supply and weak downstream buying, the PET market prices continue to operate weakly.

Overall, the market is in a downward trend, and the PET market may experience weak fluctuations in the short term. The actual trend still depends on the trend of the raw material side and the subsequent actual supply and demand situation.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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