1 Today's Summary

PBT manufacturers' quotations remain stable.

② This week, the supply side PBT plant is operating normally.

③ This week, China's PBT industry output reached 23,075 tons, with a capacity utilization rate of 54.32%, up 4.47% from the previous week. 。 This week, the average gross profit of domestic PBT is -498 yuan/ton, a decrease of 97 yuan/ton compared to the previous week. 。

2 Spot Market Overview

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

Based on the East China region Today, the mainstream price of medium-low viscosity PBT resin is 7,850-8,200 yuan/ton. Same as yesterday 。 Today, the PBT market is weak.The PTA market experienced strong fluctuations. ，BDOMarketThe range fluctuates. Cost-side support has improved.The supply side of PBT has increased its willingness to ship, with market sentiment remaining weak and stagnant, while downstream players cautiously observe the market. According to Longzhong Information statistics, the market price of low to medium viscosity PBT pure resin in East China ranges from 7850 to 8200 yuan/ton.

3 Production dynamics

This week, the production of PBT in China reached 23,075 tons, with the industry's capacity utilization rate at 54.32%, a 4.47% increase from last week, and a 0.83% decrease compared to the same period last year. In terms of plant operations during this cycle, Changchun Chemical's PBT facility has resumed normal production after maintenance, and Zhangong Biology's PBT facility is operating on two lines. 。 This week, the average gross profit of domestic PBT is -498 yuan/ton, a decrease of 97 yuan/ton compared to the previous week. 。

4 Price prediction

The PBT market is expected to be weak and volatile. Cost方面 There is a certain expectation of reduced production capacity for PTA polyester, with limited enthusiasm for downstream procurement. The supply and demand sides lack sustained driving forces, and the overall valuation of the industrial chain remains low. Cost-side support persists, and the domestic PTA spot market is expected to maintain a volatile trend in the short term. The supply of BDO in the previous market was moderate, with support from the supply side, and suppliers maintained a steady market sentiment. Downstream demand followed on a need-to basis but with price negotiations, leading to ongoing supply-demand standoffs and stagnant market trends. PBT spot prices remained weak in the market, with downstream and end-users maintaining rigid demand transactions, and no significant shift in demand observed. ThereforeLongzhong estimates that the medium to low viscosity PBT resin in the East China market is expected to be priced at 7,800-8,100 yuan/ton tomorrow.

5 Relevant product information

PTA Market: Today's PTA spot price increased by 46 to 4886. For this week and next week, deliveries at the main port and warehouse receipts traded at par with May futures or at a discount of 6. For mid-to-late April deliveries at the main port, offers were around a premium of 10 over May futures, with bids around par with May futures under negotiation. The interplay between cost and demand led to a slight strengthening in absolute intraday prices, with spot basis slightly firmer. Downstream inquiries were cautious, and overall trading activity was moderate. (Unit: CNY/ton)

BDO Market: As of the time of writing, the spot inquiry for solvent in the East China market is mainly discussed at 7900-8000 yuan/ton for tank trucks, and 8900-9000 yuan/ton for drums (inclusive of acceptance delivered), unchanged from yesterday. The East China market today. BDO market Interval fluctuations. There are no significant changes on the supply and demand side, and market participants are taking a wait-and-see approach, with mainly just meeting basic demand. The market is temporarily weak and in a stalemate, with attention on the online transaction situation in the afternoon.

6 Data Calendar

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