Price trend

According to the data monitored by SunSirs, as of April 24, the price of water bottle-grade PET was running stable to be strong this week, with an average price of 8,450 RMB/ton. The overall market conditions rose in a narrow range, with prices rising by 1.32% or about 100 yuan/ton compared with the same period last week.

Analysis review

The domestic PET price was on the strong side, with a slight increase, the manufacturers were actively shipping, the logistics was smooth, the market transaction atmosphere was normal, the overall market operating rate was normal, the downstream stocking willingness was general, and the cost support was weak. As of the 24th, the mainstream price was around 8400 RMB/ton, and the price rose slightly this week.

Upstream ethylene glycol: As of April 22, the average price of oil-based ethylene glycol was 4,975 yuan/ton, down 125 yuan/ton from the previous statistical cycle. It is expected that the market fundamentals will not change much in the short term, and the probability of narrow fluctuations is high.

Rubber and Plastics Commodity Index: On April 23, the rubber and plastics index was 803 points, the same as the previous day, down 24.25% from the highest point in the cycle of 1,060 points (2012-03-14), and up 52.08% from the lowest point of 528 points on April 6, 2020. (Note: The cycle refers to 2011-12-01 to the present)

Market outlook

The PET analyst of SunSirs believes that the PET market is expected to run strongly in the short term.

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