According to the Commodity Market Analysis System of SunSirs, the price of PET water bottles was weak in mid September. As of September 23rd, the average market price has been adjusted to 6,287 RMB/ton.
During the Mid Autumn Festival holiday, the PET market experienced a narrow downward trend due to the influence of raw materials. However, the subsequent rise in crude oil prices, coupled with the unexpected shutdown of some facilities due to the impact of typhoons, has intensified the trend of tight supply of local goods, resulting in the disappearance of low-priced goods on site and an upward trend in market prices. However, the limited increase in terminal prices has dragged down the magnitude of the rise.
In mid to late September, the domestic PTA spot price stopped falling and stabilized. As of September 22, the average spot price of PTA in East China was 4,811 RMB/ton, an increase of 0.39% from the beginning of last week. The international oil price trend is relatively strong, providing upward support for PTA costs. In addition, the macroeconomic sentiment has improved, and the general rise in commodity markets has triggered resonance. Due to the unplanned shutdown of multiple PTA plants, prices have stopped falling and rebounded slightly. The price of ethylene glycol began to decline in September. According to data from SunSirs, as of September 22, the average price of domestic oil to ethylene glycol was 4,491 RMB/ton, a decrease of 3.63% from September 1.
From the demand side, the industry's mentality has been frustrated, and industry participants generally adopt more conservative strategies, being more cautious in placing orders, which may limit the rebound of PET spot market prices.
Overall, analysts from Business Society believe that there may be expectations of a rebound in PET spot market prices in the short term, but the magnitude is still limited. 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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