Pet Bottle Chip Market in East China on February 25: Cost Weakness Leads to Soft Price Adjustments
On February 25, the polyester bottle resin market in East China showed a slight decline, with spot prices falling slightly. The market trading atmosphere was weak, and overall the market presented a situation where cost support was insufficient and buyer demand was weak.
On the same day, the price of polyethylene terephthalate (PET) bottles in East China closed at 6,335 yuan per ton, down 15 yuan per ton from the previous trading day, with the market focus slightly declining. Recently, international crude oil prices have fallen, leading to weakened support from upstream raw materials. The cost-side positive factors for PET bottles have faded, and factories have mainly adopted a stable pricing and waiting strategy, with no significant price adjustments in quotes.
In the spot market, offers for February and March cargoes are concentrated at RMB 6,280–6,450 per ton, while downstream bids range only from RMB 6,240 to 6,270 per ton, significantly widening the gap between offers and bids and intensifying the standoff between buyers and sellers. Downstream buyers show weak purchasing interest, mostly procuring only small volumes to meet immediate needs, resulting in generally subdued market sentiment and limited transaction volumes.
Overall, the current polyester bottle chip market is affected by both the decline in costs and the weak demand, leading to a short-term weak market trend. Moving forward, it is essential to closely monitor the trend of crude oil, the progress of resumption of work downstream, and the actual implementation of orders. Whether the cost can stabilize again and whether the demand can gradually recover will be key factors in determining the direction of bottle chip prices.
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