According to the data monitored by SunSirs, the price of PET was running in a narrow range this week. As of July 19, the average price of water bottle-grade PET was 8,890 RMB/ton. The overall market was running in a narrow range and weak. The focus of negotiations was stable, the overall market supply and demand were balanced, and logistics and shipments were smooth.
Analysis review
Domestic PET prices were running weakly within a narrow range, and prices were slightly lowered this week. The operating rate of the PET market was normal, the manufacturers were actively shipping, the logistics was smooth, the market transaction atmosphere was general, the negotiation atmosphere was acceptable, the downstream stocking willingness was general, and the cost was lacking support. On the 19th, the mainstream price was around 9,500 RMB/ton, which was slightly lowered this week. In the short term, PET was running steadily and weakly. The latest quotation of the company: the PET price of Shanghai Quyi Industrial Co., Ltd. was 9,150 RMB/ton, the PET price of Shanghai Hongqi Plastic Technology Co., Ltd. was 9,800 RMB/ton, and the PET price of Jiangsu Sanfangxiang Group Co., Ltd. was 9,200 RMB/ton.Upstream ethylene glycol, on July 15, the average price of oil-based ethylene glycol was 4,516.67 RMB/ton, down 91.66 RMB/ton from the previous trading day, down 1.99% year-on-year.Rubber and Plastics Commodity Index: On July 18, the rubber and plastics index was 722 points, a decrease of 5 points from previous day, a decrease of 31.89% from the highest point in the cycle of 1,060 points (2012-03-14), and an increase of 36.74% from the lowest point of 528 points on April 06, 2020. (Note: The cycle refers to 2011-12-01 to the present).
Market outlook
The PET analyst of SunSirs believes that the PET market is expected to run in a narrow range and weak in the short term.
