Price trend

According to the data monitored by SunSirs, as of March 31, the price of water bottle grade PET was relatively stronger, with an average price of 7,690.00 RMB/ton. In March, the PET market price increased by 2.81%, with the overall market operating stronger in a narrow range. On the 31st, the mainstream price was around 7,600 RMB/ton, and supply and demand in the overall market were balanced.

Analysis review

In March, the domestic PET price was stable and slightly stronger, with the price at the beginning of the month being 7,480 RMB/ton and the price at the end of the month being 7,690 RMB/ton, a 1.18% increase compared to the same period last week. The overall price rose slightly, and the negotiation focus was stable. The mainstream price was around 7,600 RMB/ton. Downstream purchases were made on demand, negotiation atmosphere was positive, logistics was smooth, factory shipments was active, upstream support was general, and mainly ran stably. The company's latest PET quotation: Jiashan Plastic Trading Co., Ltd. 7,200 RMB/ton, Shanghai Hongqi Plastic Technology Co., Ltd. 7,400 RMB/ton, and Shanghai Quyi Industrial Co., Ltd. 7,250 RMB/ton.

Rubber and plastic commodity index: On March 30, the rubber and plastic index stood at 674 points, unchanged from the previous day, down 36.42% from the cycle's highest point of 1,060 points (2012-03-14), and up 27.65% from the lowest point of 528 points on April 6, 2020. (Note: The cycle refers to 2011-12-01 to now).

Market outlook

PET analysts from SunSirs believe that the PET market is expected to remain stable in the short term, with a mainstream price range of around 7,600 RMB/ton.

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