[pbt daily review] raw materials both fall, pbt market runs quietly

1 Today's Summary

The PBT manufacturer's quotation remains stable.

There are fewer PBT unit overhauls this week.

③ The PBT production for this period is 22,600 tons, a decrease of 500 tons from the previous period, representing a decline of 2.16%. The capacity utilization rate is 53.14%, down by 1.32% compared to the previous period. This week's average gross profit of domestic PBT is -548 RMB/ton, down 44 RMB/ton from the previous week. 。

2 Spot Overview

Table 1 Domestic PBT Price Summary (Unit: RMB/ton)

The mainstream price of medium and low viscosity PBT resin in the East China region is 7800-8300 yuan/ton today, remaining stable compared to the previous working day.Today, the PBT market is weak and cautious, the PTA market is under pressure and falling, and the BDO market continues to decline. The raw material side continues to weaken, with the PBT market observing weakly. There is an increased mentality of promoting transactions at low prices within the market, and the market focus is weak. According to Longzhong Information, the price of low-viscosity PBT pure resin in the East China market is 7,800-8,300 RMB/ton.

3 Production Dynamics

The PBT production for this period is 22,600 tons, a decrease of 500 tons compared to the previous period, with a decline rate of 2.16%. The capacity utilization rate is 53.14%, down by 1.32% from the previous period. During the week, the PBT plant at Nantong Xingchen underwent maintenance, and the PBT plant at Changhong Bio reduced its load, leading to a decrease in domestic PBT supply. 。 The average domestic PBT gross profit this week is -548 RMB/ton, down 44 RMB/ton from the previous week. 。

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

4 Price Forecast

The PBT market is expected to experience weak fluctuations. On the raw material side, multiple domestic PTA facilities are undergoing maintenance, leading to a significant reduction in supply. However, demand is underperforming, with polyester enterprises' production and sales being average. Coupled with a weakening trend in raw materials, the PTA spot market is expected to continue its weak pattern in the short term. BDO supply and demand pressure is expected to persist next week, and market participants have a strong cautious bearish sentiment. Downstream buyers are following up as needed, and sellers are continuing their selling mindset, with the market focus shifting to the mid-to-low end. The weakening support from raw materials continues to negatively impact the PBT market sentiment, potentially leading to increased supply-side discounting operations. The market focus is expected to experience weak fluctuations. Therefore, Longzhong anticipates that next week, the East China market for low to medium viscosity PBT resin will be priced at 7,700-8,200 yuan/ton.

5 Related product information

PTA Market: Today's PTA spot price is down 86 to 4740. For August main port delivery, transactions occurred at a discount of 10-15, while for September main port delivery, transactions were flat with the September contract. Weak cost and weak expectations constrained the market, leading to a volatile decline in absolute prices during the day. Mainstream suppliers were selling, and the spot basis continued to be relatively weak, though market negotiations were acceptable. (Unit: RMB/ton)

BDO Market: As of press time, mainstream spot bulk negotiations in East China are at 8000-8200 yuan/ton, and barrel negotiations are at 9000-9200 yuan/ton (delivered upon acceptance), with the lower end down by 100 yuan/ton compared to yesterday. Today, the BDO market in East China is experiencing a downward fluctuation. The market lacks favorable support, and industry participants are cautiously bearish. The downstream actual orders are limited and negotiable, and the holders are selling at a discount, leading the market to continue declining. 。

6 Data Calendar

Table 2 Overview of Domestic PBT Data (Unit: Ton, Yuan/Ton)