[pbt daily review] cost side continues to be bearish, pbt market news is confusing

1 Today's Summary

① The PBT manufacturer's quoted price remains stable.

This week, there are relatively few PBT unit maintenance activities.

In this period, the PBT production volume is 23,100 tons, an increase of 1,800 tons compared to the previous period, with a growth rate of 8.45%. The capacity utilization rate is 54.46%, an increase of 4.24% compared to the previous period.This week's average domestic PBT gross profit is -504 yuan/ton, a decrease of 116 yuan/ton compared to the previous week. 。

2 Spot Overview

Table 1 Domestic PBT Price Summary (Unit: Yuan/Ton)

As a reference for the East China region, the mainstream price of medium and low viscosity PBT resin today is between 7,800-8,300 yuan/ton, remaining stable compared to the previous working day.Today, the PBT market is operating weakly and steadily, the PTA market is under downward pressure, and the BDO market is trending downward. With raw material prices continuing to fall, the sentiment in the PBT market is pessimistic. The quotations are relatively chaotic, and the market is fluctuating within a range. According to Longzhong Information statistics, the price of low-viscosity PBT pure resin in the East China market is 7,800-8,300 yuan/ton.

3 Production Dynamics

The PBT production for this period is 23,100 tons, an increase of 1,800 tons from the previous period, with a growth rate of 8.45%. The capacity utilization rate is 54.46%, an increase of 4.24% compared to the previous period.During the week, the Nantong Xingchen PBT plant was shut down for maintenance, and previously maintained units have resumed operations, leading to an increase in domestic PBT supply. The average domestic PBT gross profit this week is -504 yuan/ton, a decrease of 116 yuan/ton compared to the previous week. 。

Figure 2: Trend of Domestic PBT Capacity Utilization Rate in 2025	Figure 3 2025 Domestic PBT Profit and Price Comparison Chart (Yuan/Ton)
Data Source: Longzhong Information	Data source: Longzhong Information

4 Price Prediction

The PBT market is expected to be weak and observant. On the raw material side, PTA supply has slightly decreased, slowing the pace of inventory accumulation in the balance sheet. There is a lack of substantial positive factors downstream, seasonal purchasing is hindered, and there is a lack of new drivers externally. In the short term, the PTA spot market is expected to maintain a volatile pattern; BDO supply is abundant, but downstream demand is weak, leading to persistent supply-demand pressure, adversely affecting market sentiment. Sellers are offering narrow discounts for promotions, leading to a downward trend in the market. There is little expectation for cost improvement, and the PBT market may follow the downward trend, remaining weak and volatile. Therefore, Longzhong predicts that tomorrow the price of medium-low viscosity PBT resin in the East China market will be around 7800-8200 yuan/ton.

5 ============ The situation of related products

PTA Market: Today's PTA spot price decreased by 15 to 4830. From the end of July to August, main port deliveries were traded at a discount of 5-0, with some slightly lower, and main port deliveries in September were negotiated at a discount of 5. The overall atmosphere in the sector is weak, with absolute prices fluctuating and consolidating throughout the day. Suppliers reducing their load slightly boosted sentiment, and the spot basis appeared somewhat stagnant, with market negotiations being subdued. (Unit: RMB/ton)

BDO Market: As of the time of writing, the mainstream negotiation for bulk BDO in the East China region is between 8,200-8,300 yuan/ton, and for drum-packaged BDO, it is between 9,200-9,300 yuan/ton (delivered, acceptance). The high end has decreased by 100 yuan/ton compared to yesterday. Today, the focus of the East China BDO market has shifted downward. Supply and demand pressure persists, and there is a strong cautious bearish sentiment among industry players. Downstream contracts are following up, but spot purchases are scarce, with negotiations mostly leaning towards the lower end of the market.

6 Data Calendar

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