According to the Commodity Market Analysis System of SunSirs, as of February 8th, the average selling price of PET is 6,347 RMB/ton, with a slight increase after a downward trend.
During the day, the crude oil and its raw material market showed a strong rebound trend, providing more solid support for the cost side of PET and driving the center of gravity of market prices upward. However, the recovery of terminal demand is still lagging behind, and there are many unstable factors in the external environment, which has led downstream industries to adopt a cautious attitude towards chasing prices and have a weak willingness.
In response to the current market situation, SunSirs believes that cost drivers will dominate in the short term, and PET market prices are expected to rise along with the upward trend of the raw material market. However, at the same time, the gradual increase in supply side pressure may also exert a certain drag on the upward trend of prices. Therefore, the actual trend of the PET market in the future will depend on the combined effects of multiple factors, including the operation of subsequent equipment, changes in demand, and the cost support brought about by changes in the crude oil market.
If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com
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