1、 Price trend
Recently, the PET bottle grade market has rebounded from its decline. According to the commodity market analysis system of Business Society, as of March 5th, the domestic PET bottle grade price was 7250 yuan/ton, an increase of 0.69% compared to the previous day, and an increase of 0.42% compared to the end of February. Currently, the mainstream price is around 7300-7400 yuan/ton.
2、 Market analysis
During the Spring Festival, the demand for crude oil and other products increased, and the prices of PET raw materials continued to rise, leading to an increase in PET costs. However, due to weak cost support, coupled with high PET inventories, and weak demand in the post holiday PET market, the PET market still showed a weak adjustment stage from late February to early March. Prices did not show a clear upward trend, and post holiday terminal demand slowly recovered. Negotiations focused on operating at a lower level, and March ushered in a traditional peak season. “Golden Three Silver Four” is approaching, and multiple sets of polyester plants are restarting plans. In March, PET supply has steadily increased, and demand has gradually recovered. It is expected that there will be further improvement in demand in March.
In terms of cost
From late February to early March, the PET raw material PTA market was in a weak consolidation stage, with market prices mainly fluctuating and adjusting. Moreover, crude oil products that affect the cost side prices also maintained a weak operation. The PTA supply side was relatively stable, and there was no significant downward trend on the cost side. PET had weak support on the cost side and high inventory, so the overall trend was a weak adjustment. Recently, international crude oil prices have risen, with obvious positive support. PET has certain support on the cost side, and downstream demand has gradually recovered, so the PET market has shown a strong trend.
In terms of demand
After the Yuanxiao (Filled round balls made of glutinous rice-flour for Lantern Festival) Festival, the market demand for polyester bottles and chips has obviously recovered, the purchasing atmosphere is positive, and the willingness to pick up goods has been strengthened. At present, the overall PET delivery market has been improving all the way, the inventory side has been consumed normally, the operating rate has been stable, and the profit has also been significantly improved. In addition, the PET packaging and sheet industry has entered the peak season. The decoration season is coming, and the demand has slowly recovered. At present, the overall market shows a sustained and stable growth demand.
3、 Future Market Forecast:
According to PET analysts from Business Society, the current supply of PET spot is relatively sufficient, and terminal demand is slowly increasing. Under the game of cost and supply and demand in the short term, the fluctuation range of PET prices is limited. Operators are cautious and expect the PET market to maintain a strong and volatile operation in the short term. It is necessary to constantly monitor the cost side trend and the inventory consumption situation of factories.
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