SunSirs: China PET Bottle Chip Market Prices Fluctuated weakly Last Week (12.2-6)

According to the Commodity Market Analysis System of SunSirs, the PET bottle chip market prices fluctuated weakly last week. As of December 6th, its average market price was 6,120 RMB/ton, a decrease of 30 RMB/ton or 0.48% from the average price at the beginning of the month.

In terms of cost, the International Energy Agency (IEA) pointed out last week that the market supply situation is slightly unstable, and the demand outlook is not very clear. On the eve of the OPEC meeting, the market is generally adopting a wait-and-see attitude, leading to a fluctuating downward trend in international oil prices, which has a negative impact on the cost side. Nevertheless, the quotations from polyester bottle chip factories remain firm, and the actual negotiation focus in the market remains stable. Subsequently, the market remained optimistic about the expectation of OPEC+ delaying production increases, providing support for the market and leading to a rebound in international crude oil prices. However, due to the unexpected increase in US refined oil inventories, international oil prices were under pressure and some of the gains were reversed, leading to a decrease in polyester raw material prices and a cost negative impact on the polyester bottle chip market, resulting in a decline in its market focus.

In terms of demand, downstream and end users still hold a wait-and-see attitude, and their enthusiasm for participating in the market is not high, mainly to meet low-level rigid demand, with limited actual trading volume. Therefore, the PET market as a whole lacks sufficient momentum.

Overall, the weak cost continues, and downstream procurement is cautious. There is currently no positive market support, and the industry's profit recovery is difficult. It is expected that the polyester vibrating plate market will fluctuate within a certain range this week. The price operating space in the East China market is between 6,050-6,200 RMB/ton, and it is still necessary to focus on the trends of the crude oil and PTA markets.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.