According to the data monitored by SunSirs, as of February 22, the price of bottle-grade PET was relatively strong, with an average price of 7,480.00 RMB/ton, a decrease of 0.93% compared with the same period last week. The overall market was stable and weaker. The mainstream price was around 7,400 RMB/ton, and the overall market supply and demand was balanced.
Analysis review
This week, the domestic PET price was weak, and the price fell slightly. The mainstream price was about 7,400 RMB/ton. The downstream just needed to purchase, the willingness to stock was not strong, the logistics was smooth, the manufacturers were active in shipping, the upstream support was not strong, and the operation was narrow. The latest quotation of PET enterprises: Jiashan Plastic Trading Co., Ltd. 7,250 RMB/ton, Shanghai Hongqi Plastic Technology Co., Ltd. 7,700 RMB/ton, and Shanghai Quyi Industrial Co., Ltd. 7,250 RMB/ton.
Rubber and plastic commodity index: The rubber and plastic index stood at 683 points on February 21, up 1 point from the previous day, down 35.57% from the highest point of 1,060 points in the cycle (2012-03-14), and up 29.36% from the lowest point of 528 points on April 6, 2020. (Note: the period refers to 2011-12-01 to now).
Market outlook
PET analysts of SunSirs believe that the market price of PET is expected to run smoothly in the short term.
