1、 Price trend

According to the analysis system of the commodity market of Shengyishe, as of April 28th, the domestic price of water bottle grade PET was 7318 yuan/ton, and fiber grade PET was 6960 yuan/ton. In April, the overall focus of PET raw material negotiations was relatively low, with weak downward prices. PET lacks strong support on the cost side, and factory quotations are operating at high prices. Currently, the focus of PET market negotiations is downward, with overall market prices fluctuating downward. Downstream demand for replenishment is mainly, and there is no obvious willingness to hoard. At present, cost support is weak, and the PET market is difficult to improve in the short term.

2、 Market analysis

In April, the price support for PET raw materials was insufficient and lacked positive support. According to the industry chain’s ups and downs chart, both upstream ethylene glycol and PTA showed a downward trend. Currently, the downstream procurement atmosphere is average, with poor demand, and the overall market price upward momentum is insufficient. Since April, equipment maintenance enterprises have been restarting, and the supply side has been continuously improving. With the continuous increase in operating rates, inventory pressure has been increasing. Currently, downstream rigid demand procurement is the main focus, and inventory is slowly consuming. In April, the focus of PTA market negotiations has shifted downwards, and PET’s cost support in April is insufficient.

In terms of cost: In April, the upstream PTA price showed a weak downward trend, the downstream market operating rate was relatively low, and the overall market demand was lower than expected. In April, the upstream ethylene glycol operated weakly with a narrow range, and PET had weak support on the cost side. Currently, the overall market supply is sufficient, approaching the May Day holiday, the downstream replenishment willingness is insufficient, and the downstream demand is small, mainly contract customers.

In terms of demand: Currently, the overall operating rate of the PET downstream market is stable, with a lack of enthusiasm for downstream procurement, high inventory levels, slow consumption, and mainly small orders. In the short term, prices will maintain the current trend, and the range of price fluctuations is limited.

3、 Future Market Forecast:

PET analysts from Business Society believe that currently, there is limited room for price increase in both upstream and downstream markets, and there is a lack of favorable support for PET costs. As the May Day holiday approaches, downstream demand is weak, replenishment willingness is not strong, and order quantity is limited. In the short term, PET may maintain its current trend, with mainstream prices for water bottles at 7400 yuan/ton and fiber grades at 7000 yuan/ton. The overall market price fluctuation range is limited.