PBT Daily Review: Mainstream Stable, Adjustment Small

1 Today's Summary

① Today PBT Mainstream stability.

② Fujian Meizhou Bay (Fujian Haiquan) facility shutdown for maintenance.

③ This Issue PBT Output 1.76 ten thousand tons, a decrease from last week 6.38% Production capacity utilization 39.10% 。

2 Spot Market Overview

Table 1 Summary of Domestic PBT Prices (Unit: RMB/ton)

Based on the East China region, the mainstream price of medium-to-low viscosity PBT resin today is RMB 10,100–11,000 per ton, remaining stable compared to the previous working day. The PTA market in East China remained stable and quiet today. Domestic supply decreased, but demand performance was poor, leading to a slight decline in PTA prices today. BDO prices remained stable, with suppliers continuing to support the market, and some suppliers' May policies remained unchanged. Merchants delivered contract orders, and spot transactions were quiet. PBT's cost factors had little impact, demand was cautious, and prices remained stable at higher levels.

3 Production Dynamics

This period, Zhejiang Changhong delayed its start of operations; Jiangsu Changchun has one line under maintenance; Kanghui New Materials has two lines under maintenance; Meizhou Bay has stopped for maintenance. This period's PBT production was 17,600 tons, a 6.38% decrease from last week, with a capacity utilization rate of 39.10%.

Figure 2: Domestic PBT Capacity Utilization Trend from 2025 to 2026	Figure 3 Comparison of Domestic PBT Profit and Price in 2025-2026 (RMB/ton)
Data source: Longzhong Information	Data source: Longzhong Information

4 Price Forecast

The oil price trend carries significant two-way risks, either surging to new highs or falling back to pre-war levels, mainly depending on the progress of U.S.-Iran negotiations, but the most critical factor remains the navigation conditions in the Strait of Hormuz and how quickly normal ship traffic can resume. To stimulate downstream stockpiling before the May Day holiday, PBT trading negotiations have eased, possibly with low-price sales, indicating a short-term downward trend, while the long-term outlook still needs to focus on supply and demand fundamentals as well as raw material trends. According to LSR, the price range for medium and low viscosity PBT resin in the East China market is 9,900-11,000 RMB per ton.

5 , Relevant Product Information                                       

PTA Market : As of the deadline, PTA prices in the East China market declined, with deals discussed around RMB 6,570/ton. For main port deliveries this week and next week, May front-month contracts traded at discounts of 17–25, while warehouse receipts traded around a discount of 21. For May main port deliveries, front-month contracts traded at par to a premium of 12. Some upstream units have postponed maintenance, leading to weaker-than-expected supply-demand dynamics. Absolute prices weakened in afternoon trading, while spot basis remained largely stable, with market discussions quiet. (Unit: RMB/ton)

BDO Market ： As of the time of this report, the eastern and southern regions of China will... BDO San Shui market fluctuates within a range; mainstream prices for reference 8300-8600 Yuan / Ton. The auction price in the morning reached 8700 Yuan / tons, but the boost to market buying sentiment remains limited. Downstream terminal demand is generally weak, and end-users resist high prices. Meanwhile, suppliers continue to support prices, with some suppliers… 5 Monthly policy remains stable. Holders deliver contract orders, spot transactions are quiet, and the market center fluctuates within a range.

6 Data Calendar

Table 2: Domestic PBT Data Summary (Unit: tons, RMB/ton)