SunSirs: China PET Market Prices may Continue to Experience Narrow Adjustments in Short Term
November 25 2024 09:24:47 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the PET market price is running weakly. As of November 22nd, its average market price is 6,220 RMB/ton.
International crude oil prices fell widely. On November 21st, WTI December crude oil futures closed down $0.52, a decrease of nearly 0.75%, at $68.87 per barrel. Brent crude oil futures for January closed down $0.50, down over 0.68%, at $72.81 per barrel. The cost support for PET is slightly weak. In addition, weak terminal demand has led to increased pressure on some sources of goods to be shipped. Under market pressure, PET lacks upward momentum.
Overall, the PET market prices may continue to experience narrow adjustments in the short term. 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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