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【PBT Daily Review】The Supply and Demand Struggle in the PBT Market Continues

Longzhong 2025-03-24 17:35:13

1today's summary

PBT manufacturer's quotations are stable.

②This week, the PBT plant is operating normally.

③This week, China's PBT industry production reached 21,175 tons, with an industry capacity utilization rate of 49.85%, remaining flat from last week. The average gross profit of domestic PBT this week was -401 yuan/ton, a decrease of 27 yuan/ton compared to last week.

2spot overview

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

in order toEast China region as the benchmarkToday, the mainstream price of medium to low viscosity PBT resin is 7900-8200 yuan/ton.remained flat compared to yesterday。Today, the PBT market is in a wait-and-see mode, the PTA market is operating weakly, and the BDO market is in a weak stalemate. The cost support is relatively weak, the sentiment in the PBT market is bearish, and there is a psychological game between supply and demand within the market, leading to a wait-and-see attitude. According to Longzhong Information, in the East China market, the price of low to medium viscosity PBT pure resin is 7900-8200 yuan/ton.

3production dynamics

This week, China's PBT industry production reached 21,175 tons, with an industry capacity utilization rate of 49.85%, remaining flat from last week, and a decrease of 1.53% compared to the same period last year. In terms of facility operations this cycle, there were no significant changes in PBT facilities. The average gross profit of domestic PBT this week was -401 yuan/ton, a drop of 27 yuan/ton on a week-on-week basis.

4price prediction

It is expected that the PBT market will fluctuate within a range. In terms of costs, the PTA balance sheet maintains the expectation of inventory reduction, with no significant supply and demand contradictions, and the overall valuation is relatively low. However, there are many unstable external factors, and commodities lack sustained drivers. Downstream operations are cautious, and in the short term, the domestic PTA spot market will maintain a volatile pattern; at the beginning of the new trading cycle for BDO, the market continues to adopt a wait-and-see attitude. The actual demand from the terminal downstream is sluggish, and negotiations upon entering the market occur, with holding vendors having moderate confidence in the future market. Mainstream offers are stable, and actual transactions are negotiated based on the market, with the market center oscillating weakly. The cost support is average, and the PBT market mostly adopts a wait-and-see mentality. The market lacks clear bullish or bearish drivers, leading to fluctuations within a range. Therefore, Longzhong expects that tomorrow's East China market for medium to low viscosity PBT resin will be in the range of 7900-8200 yuan/ton.

5related product situation

PTAmarketEast China market PTA spot market prices declined, with negotiations around 4840. For this week and next week, main port delivery, warehouse receipts for May at a discount of about 15, transactions discussed between 15-22. April main port delivery offers May at par to a premium of 15, bids discussed at May par to a discount of 5. Intraday absolute prices recovered after falling with costs, the spot basis showed some loosening, and overall negotiations were moderate. (Unit: yuan/ton)

BDOmarket:As of the time of writing, the mainstream negotiation for spot bulk water in East China is 7900-8000 yuan/ton, and the negotiation for drum-packed goods is 8900-9000 yuan/ton (cash on delivery), remaining unchanged from yesterday. Today, the BDO market in East China is operating with a wait-and-see attitude. At the beginning of the week, there is little news in the market, and traders are observing before entering. The actual demand downstream is weak, and there is bargaining; cargo holders are cautious in their operations, negotiating deals based on the current market, and the overall market situation remains weak and stagnant.

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【PBT Daily Review】The Supply and Demand Struggle in the PBT Market Continues

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