SunSirs: China PET Market Prices Remained weak and stable on October 25

https://www.chemnet.com   Oct 28,2024 SunSirs

According to the Commodity Market Analysis System of SunSirs, the PET market price is running weakly. As of October 25th, its average market price has been adjusted to 6,360 RMB/ton.

Due to the unexpected increase in US crude oil inventories last week, which exceeded expectations, overnight crude oil prices fell, resulting in a lackluster cost side support for PET. In addition, downstream industries continue to maintain procurement levels that only meet basic needs, which has dragged down and led to a correction in PET market prices today. However, considering the tight supply of goods in some regions and the good export performance, the decline in intraday prices has been limited to a relatively limited range.

Overall, the market is in a downward trend, and the PET market may experience weak fluctuations in the short term. With trading deadlocked, the PET market may continue to fluctuate within a narrow range 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.

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