According to the Commodity Market Analysis System of SunSirs, the price of PET bottle flakes (PET) increased last week. As of April 27th, the average selling price of PET (PET bottle flakes) is 5,787 RMB/ton.

From the perspective of price fluctuations, at the beginning of last week, international oil prices began to rise, which exerted upward pressure on the cost side of the PET market. At the same time, there is a tightening situation in the local spot circulation links, and the atmosphere of tight market supply is gradually becoming stronger. In addition, news of mainstream factories jointly reducing production has emerged in the market, and multiple factors have combined to drive up PET market prices. Low price sources in the market have been quickly digested and are difficult to find. Crude oil experienced a pullback at one point, and the news of production cuts was not actually implemented. There was a strong wait-and-see sentiment in the market, which limited further growth in the PET market and led to a partial decline in gains. As the weekend approaches, crude oil and raw material prices have rebounded again, injecting new upward momentum into the PET market. At the same time, due to the consideration of ensuring the stability of processing fees, the factory has a strong willingness to guarantee processing fees. Under the dual effects of cost support and the factory's willingness to raise prices, the PET market quotation continues to rise.

On the supply side, the operational load of industry equipment has increased. The 300,000 ton bottle tablet plant of Chongqing Wankai resumed operation in late April, and the newly put into operation 750,000 ton production capacity in Sanfangxiang was also restarted and put into production in the early stage. With the restart and operation of these devices, there are still incremental expectations on the supply side, and the future market supply of goods may further increase.

The demand side presents a complex situation. Currently, the soft drink industry is in the off-season of seasonal consumption, and market demand is relatively flat. However, it is worth noting that as temperatures gradually rise, the peak season for soft drink consumption is approaching, and demand expectations are improving. In addition, the export market has performed well with a high year-on-year growth rate, providing certain support for the demand of the PET market.

In addition, at the policy level, Zhengzhou Commodity Exchange will adjust the trading margin standard for bottle futures contracts to 9% and the limit up and limit down range to 8% from the settlement date of April 29, 2025. This may have a certain impact on market trading activity and price fluctuations.

In response to the current market situation, SunSirs believes that the PET market for PET bottle chips will still have support in the short term, but downstream follow-up is not as expected, and the PET market may experience a narrow adjustment. The actual trend still needs to pay attention to the follow-up equipment, demand situation, and cost support under the traction of crude oil.

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