According to the Commodity Market Analysis System of SunSirs, as of January 17th, the average selling price of PET is 6,432 RMB/ton, and the price trend shows a strong upward trend.

Last week, the new round of sanctions imposed by the United States on Russia dealt a heavy blow to Russia's oil supply, intensifying market concerns about supply shortages. At the same time, the cold wave weather experienced by the United States has further driven up energy demand. These favorable factors work together to drive up international oil prices. In addition, the maintenance of some facilities for the main raw material PTA has also led to a strong rebound in the PET raw material market. On the other hand, the processing costs of the PET bottle chip industry have remained low for a long time, which has prompted factories to increase their willingness to raise prices, and the focus of market transactions has also increased accordingly.

However, last week, downstream and terminal markets were cautious about high priced goods, with low inquiry willingness and only some areas having urgent needs to follow up, resulting in limited overall trading volume. With the approaching Spring Festival holiday and the recent significant increase in bottle tablet prices, downstream markets are becoming more cautious and cautious, leading to poor trading volume and the possibility of the market falling into a situation of having value but no market.

Taking into account various factors, it is expected that international oil prices will continue to maintain strong fluctuations, providing support for the cost side. Although the supply has slightly decreased, the downstream market is cautious in entering the market, and the supply and demand sides are in a stalemate. However, due to the low processing costs in the industry, SunSirs expects that the PET bottle chip market will mainly follow the rise in raw material prices next week. The market price in East China is expected to fluctuate between 6,300-6,600 RMB/ton. In the future, it is still necessary to closely monitor the follow-up equipment, demand situation, as well as the trends of the crude oil and PTA markets.

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