Polyester Bottle Chip Spot Market Tightens, Prices Rise

1 Today’s Summary

① The mainstream factories’ April supply quotations range from RMB 8,900 to 9,100 per metric ton, with Yisheng’s basis at 600.

② Domestic polyester bottle resin capacity utilization reached 72.95% today.

2. Spot Market Overview

Table 1 Summary of Domestic Polyester Bottle Chip Prices (Unit: RMB/ton)

Based on East China as the benchmark, the spot price for water-grade PET bottle flake is 8,650 today, up 50 from the previous working day.

Market sources said that the US and Iran will soon hold the second round of negotiations, causing crude oil and raw materials to retreat. However, the spot market for polyester bottle flakes remains tight, leading to an increase in market prices. The polyester bottle flakes market fluctuated today. In the morning, the market center rose from the previous day. The mainstream in the East China market was around 8600-8750, with a basis of 2605 at a premium of 600. Some were slightly lower at 8300-8450. In the afternoon, near the end of the trading session, the mainstream was quoted at around 8650. It was heard that some mainstream were traded at 8550, 8650, 8660, and 8700. Demand for spot supplies remained, with low-price at 8300 and 8370 being traded. (Unit: RMB/ton)

3. Production Dynamics

Today, the operating rate of polyester chip capacity reached 71.44%. In terms of profitability, the price of raw material PTA fell to 6,570, while MEG prices rose to 5,010. Polymerization costs decreased by 32.47 to 7,321.98, resulting in a polyester chip profit of RMB 728.02 per ton.

4. Market Sentiment

Table 2: Domestic Polyester Bottle Chip Industry Upstream and Downstream Practitioners' Emotional Expectations (Updated on Monday)

5. Price Forecast

Spot market supply is tight, and concerns over reduced supply due to raw material shortages have driven the polyester bottle flake market upward. The spot price for water-bottle grade material in East China is expected to range between RMB 8,600–8,900/ton next week. Watch for the second round of U.S.-Iran negotiations.

6. Related Product Information

PTA Market: Today, the PTA market in East China was in a stalemate, with a light atmosphere during the day. Domestic supply has decreased, but demand has been poor, with insufficient buying interest from downstream, and a lack of substantial external drivers. The market experienced a narrow fluctuation during the day, with overall sentiment being weak. At the close, the domestic PTA spot market was around 6,570 yuan/ton. In terms of the basis, the overall market sentiment was cautious, with little change in the spot basis. It was heard that the May discount was around 15-25 yuan/ton. (Unit: yuan/ton)

MEG Market: Today, the ethylene glycol market showed a consolidating trend. In the early morning, the spot price in Zhangjiagang opened around 4990. During the session, the market was mainly in a stalemate between bulls and bears, with the price fluctuating within the 4950-5000 range. By the afternoon close, the spot price was discussed around 4975, with the spot basis running around 05+30. The buying interest in the South China market was weak, and actual transaction volumes were light.

7. Data Calendar

Table 3: Domestic Polyester Bottle Flake Data Overview (Unit: 10,000 tons, %)