[pbt daily review] pbt market operates with caution

1 Today's Summary

① This week's PBT manufacturers' quotations have overall remained stable.

This week, there are fewer PBT plant maintenance activities.

③ The PBT production for this period is 22,600 tons. Capacity utilization rate is 53.14%, stable compared to the previous period. 。 This week's average domestic PBT gross profit is -324 RMB/ton, a decrease of 58 RMB/ton compared to the previous week. 。

2 Spot Overview

The mainstream price of medium and low viscosity PBT resin in the East China region today is 7,450-7,750 yuan/ton, unchanged from the previous working day. Today, the PBT market is operating with a wait-and-see approach. The PTA market continues to be weak, while the BDO market shows narrow fluctuations. The raw material support is average, the PBT market remains in a wait-and-see mode, with the focus of negotiations being weak and stable, and little trading activity is reported. ， According to Longzhong Information, the price of low-viscosity PBT pure resin in the East China market is 7,450-7,750 yuan/ton.

3 Production Dynamics

During the week, there was little change in the PBT unit. Fujian Meizhou Bay (Fujian Haiquan) PBT unit continues maintenance. The domestic PBT supply remains stable. The PBT production this period is 22,600 tons. Capacity utilization rate is 53.14%, remaining stable compared to the previous period. 。 This week, the average domestic PBT gross profit is -324 RMB/ton, a decrease of 58 RMB/ton compared to the previous week. 。

Figure 2: Trend Chart of Domestic PBT Capacity Utilization Rate in 2025	Figure 3 2025 Domestic PBT Profit vs. Price Comparison Chart (CNY/ton)
Data source: Longzhong Information	Data source: Longzhong Information

4 Price Forecast

The PBT market is expected to run weakly. On the raw material side, the PTA load reduction devices are recovering, supply is slightly increasing, and supply and demand remain tightly balanced. However, the tariff dispute continues to ferment, oil prices weaken, and the overall trend of commodities is sluggish, with pessimism spreading in the market. In the short term, the PTA spot market is expected to continue its weak trend. Currently, the BDO supply side has some support, with suppliers stabilizing the market and limiting trading space, while downstream demand is light, leading to an overall weak and stagnant market situation. There is little fundamental support to boost sentiment, and the PBT market is pessimistic, with transactions likely to revolve around just-in-time needs. Therefore, Longzhong expects the East China market's low-to-medium viscosity PBT resin to be priced between 7450-7750 yuan/ton tomorrow.

5 Related Product Information

PTA Market: Today's PTA spot price is down by 55 to 4385. The October main port delivery for January is offered at a discount of 70-80, with warehouse receipts at a discount of 50. Bids are heard at a discount of 75-85 with transactions, and for November main port delivery for January, bids are heard at a discount of 55-65 with transactions. Trade disputes are intensifying, commodity sentiment is sluggish, and weak industry expectations are holding back the market. Absolute prices and spot basis continue to be weak during the day, with overall trading being average. (Unit: yuan/ton)

BDO Market: As of the time of reporting, the mainstream negotiation price for bulk BDO in the East China region is 7,300-7,500 yuan/ton, and the negotiation price for packaged BDO is 8,300-8,500 yuan/ton (acceptance and delivery), with no change compared to the previous period. Today, the BDO market in East China is in a wait-and-see mode. There is no significant change in the fundamentals, and market participants continue to adopt a wait-and-see attitude, focusing on contract orders with few spot negotiations observed. Holders have a generally moderate trading mindset, and the market focus remains stagnant.

6 Data Calendar

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