According to the analysis system of the commodity market of SunSirs, as of April 19th, the domestic price of water bottle grade PET is 7,330 RMB/ton, and fiber grade PET is 6,965 RMB/ton. Currently, the overall focus of PET raw material negotiations is relatively low, and PET lacks strong support on the cost side. Factory quotations are mainly high. Currently, the focus of PET market negotiations is stable, and this week is mainly on digesting the previous gains. The overall market remains stable, with some manufacturers increasing by around 50 RMB/ton. Downstream demand for replenishment is mainly strong, and cost support is weak. In the short term, the PET market will maintain its current trend.

Last week, the raw material end of PET fluctuated and remained stagnant, and the rise in PET prices slowed down. Currently, the downstream procurement atmosphere is still good, and the overall market price fluctuation range is limited. In March, there were more plant inspections in enterprises, and inventory mainly remained low. In April, some enterprise plants restarted, but it will take some time to recover. With the continuous increase in operating rates, inventory is also constantly increasing. Currently, there is sufficient supply of ethylene glycol in the upstream, and shipments are good. The upstream PTA prices have recently weakened and mainly decreased. Currently, the focus of negotiations in the PTA market has shifted downwards. In the context of weak upstream and downstream markets, PET lacks cost support and prices are operating weakly.

In terms of cost, the upstream ethylene glycol trend is volatile and weak. Currently, the supply side is relatively high, and the demand recovery is less than expected. The downstream market operating rate is around 87%, which is lower than previous expectations, which to some extent restricts the ethylene glycol market. The upstream PTA price has returned to calm after experiencing a rapid rise in the past period, and the overall market has shown a weak downward trend. In recent days, the PTA market has mainly shown a weak downward trend, with sufficient supply side and weak cost support.

In terms of demand: Currently, the PET downstream market is mainly in a weak position, with a low focus on negotiations. There is a lack of enthusiasm for downstream procurement, and inventory is consumed normally. Small orders are mainly used, and prices are difficult to break through in the short term. Maintaining a volatile and weak position is the main trend.

According to PET analysts from SunSirs, the current dual upstream market is operating at a relatively low level, with a lack of favorable support for PET costs. Downstream purchases are mainly for small orders, and the number of new orders is limited. In the short term, PET will maintain its current trend, with mainstream prices for water bottle grade at 7,400 RMB/ton and fiber grade at 7,000 RMB/ton.

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