According to the analysis system of the commodity market of SunSirs, as of April 26th, the domestic price of water bottle grade PET was 7,318 RMB/ton, and fiber grade PET was 6,960 RMB/ton. Last week, the overall focus of PET raw material negotiations was relatively low, with weak downward prices. PET lacked strong support on the cost side, and factory quotations were operating at high prices. Currently, the focus of PET market negotiations is downward, with overall market prices fluctuating downward. Downstream demand for replenishment is mainly, and there is no obvious willingness to hoard. Currently, cost support is weak, and the PET market is difficult to improve in the short term.

Last week, the price support for PET raw materials was insufficient, lacking positive support. Currently, the downstream procurement atmosphere is average, and the overall market price upward momentum is insufficient. Since April, equipment maintenance enterprises have continuously restarted, and the supply side has significantly improved. With the continuous increase in operating rates, inventory pressure continues to increase. Currently, downstream rigid demand procurement is the main focus, and inventory consumption is slow. Currently, the focus of negotiations in the PTA market has shifted downwards. In the weak situation of both upstream and downstream, PET lacks cost support.

In terms of cost: Upstream PTA is weak and falling, downstream market operating rates are relatively low, overall market demand is lower than expected, crude oil prices are weak, and PTA cost side lacks positive support. Recently, the PTA market has mainly shown a weak downward trend, with sufficient supply, insufficient willingness to replenish downstream, and weak cost side support.

In terms of demand, the current PET downstream market is mainly weak, with prices slightly declining. The overall market negotiation focus is relatively low, and downstream procurement enthusiasm is lacking. Inventory is high, consumption is slow, and small orders are the main trend. In the short term, prices remain volatile and weak.

PET analysts from SunSirs believe that currently, both upstream and downstream prices are weak and downward, with a lack of favorable support for PET costs. In addition, downstream demand is weak, replenishment willingness is not strong, and order quantity is limited. In the short term, PET may maintain its current trend, with mainstream prices for water bottle grade at 7,400 RMB/ton and fiber grade at 7,000 RMB/ton. The overall market price fluctuation range is limited.

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