According to the data monitored by SunSirs, as of March 18, the price of water bottle-grade PET was weak this week, with an average price of 8,320 RMB/ton, and the overall market fell in a narrow range. Compared with the same period last week, the price fell by 4.91%, or about 400 RMB/ton.
Analysis review
This week, the domestic PET price was running weakly, with a narrow range down, manufacturers were actively shipping, and the market transaction atmosphere was general. The overall market operating rate was normal, the downstream stocking willingness was not strong, and the cost support was general. The mainstream price was around 8,300 RMB/ton, and the price fell slightly this week.
The upstream PTA was weakly downward. As of March 17, the average PTA market price in East China was 5,732 RMB/ton, down 0.74% from the previous trading day and up 27.19% year-on-year. The main force of PTA futures 2205 closed at 5700, down 6, or 0.11%. In the short term, PTA would maintain a downward trend.
Rubber and Plastics Commodity Index: On March 17, the rubber and plastics index was 800 points, a decrease of 1 point from previous day, a decrease of 24.53% from the highest point in the cycle of 1,060 points (2012-03-14), and an increase of 51.52% from the lowest point of 528 points on April 6, 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 smoothly in the short term.
