As of March 11, the price of PET water bottle from the manufacturer was RMB 5,900.00 / ton, and the PET market showed a downward trend.

Product aspect, there is a weak decline of polyester bottle chip market, the lack of support at the cost end, and the lack of obvious improvement in the downstream demand, the large probability of shock decline in the bottle chip market. With the relatively stable development of public health events, the slow recovery of the start of the bottle chip processing enterprises and the gradual recovery of shipment have relieved the inventory pressure to some extent. 

As of March 10, production starts-ups in the bottle-chip industry rose 64.50%. Now the mainstream manufacturers offer in the vicinity of 5,800-5,900 RMB/ton. The market spot mainstream talks about 5,700-5,800 RMB/ton.

Industrial chain aspect, raw material PTA and international oil price collapsed. In addition to that, ethylene glycol futures suffered a decline limit. With weakening cost support, some manufacturers offer down 100-200 RMB/ton. They have strong shipping mentality while downstream just need to purchase.

On March 10, the PET commodity index was 44.36, down 3.01 points from the previous day, the lowest in the cycle, and down 57.25% from the peak of 103.76 points on September 22, 2011. (Note: period refers to 2011-Septmber-01 till now)

SunSirs PET analysts think that business still need to improve. The downstream demand is weak. In the short term, the market is still weak, and players will wait and see. 

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.