According to the Commodity Market Analysis System of Shengyi Society, as of January 23rd, the average selling price of PET is 6347 yuan/ton, with some price adjustments after an upward trend.
Overnight crude oil prices continue to decline, resulting in weak cost support for PET. In addition, as the Spring Festival approaches, the terminal market is gradually entering a holiday mode and withdrawing from transactions, resulting in a generally low willingness of downstream enterprises to restock.
Taking into account these factors, Shengyi Society believes that the PET market price may show a weak and volatile trend in the short term, mainly fluctuating with changes in the cost side. However, the exact market trend still needs to be further observed in terms of the status of subsequent production facilities, actual demand, and the cost support effect brought about by changes in crude oil prices.
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