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【PBT Morning Brief】The PBT market is weak and in a wait-and-see mode, with the market focus mainly on fluctuating within a range.

Longzhong 2025-03-04 09:10:46

I. Key Points of Focus

1, 3/3: Concerns in the market about additional tariffs imposed by the US potentially dragging down the global economy and demand, coupled with uncertainties over whether OPEC+ will postpone its production increase plan, led to a decline in international oil prices. The NYMEX crude oil futures 04 contract fell by $1.39 per barrel to $68.37, a decrease of -1.99% compared to the previous period; the ICE Brent oil futures 05 contract, which has switched months, dropped by $1.19 per barrel to $71.62, a reduction of -1.63%. China's INE crude oil futures main contract 2504 decreased by 3.3 to 539.2 yuan per barrel, and during the night session, it fell further by 12.7 to 526.5 yuan per barrel.

2, The PTA market showed a strengthening trend, while the BDO market fluctuated within a range.

3, Production facilities operated stably.

Core Logic: With moderate cost support, the PBT market is operating weakly, with a generally bearish sentiment.

II. Price Table

III. Market Outlook

It is expected that the PBT market will operate weakly today. On the cost side, there is a significant reduction in domestic PTA supply, maintaining a tight supply-demand balance, with inventory levels continuing to decrease. However, the decline in international oil prices has weakened cost support, and the market lacks sustained driving forces. In the short term, the domestic PTA spot market is mainly characterized by weak fluctuations. The BDO suppliers continue to maintain a stable market mindset, limiting the operational space for the market. There is no significant improvement in terminal demand, with light trading activity for spot goods. Merchants have little confidence in the future, and some are willing to negotiate at lower prices to promote sales, resulting in an overall lukewarm market. Without any major negative factors, the PBT market is expected to watch cautiously, with the market center fluctuating within a range. Therefore, Longzhong predicts that today, the price of medium and low viscosity PBT resin in the East China market will be in the range of 8150-8350 yuan per ton.

IV. Data Calendar

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【PBT Morning Brief】The PBT market is weak and in a wait-and-see mode, with the market focus mainly on fluctuating within a range.

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