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[PBT Morning Update] Expected Today PBT Market to Operate in Wait-and-See Mode

Longzhong 2025-10-24 09:05:20

I. Focus Points

1 On October 23, the United States imposed new sanctions on Russian oil companies, raising market concerns about potential supply risks and causing international oil prices to rise. NYMEX crude oil futures for December rose by $3.29 to $61.79 per barrel, a week-on-week increase of 5.62%; ICE Brent crude futures for December increased by $3.40 to $65.99 per barrel, a week-on-week increase of 5.43%. China's INE crude oil futures for the 2512 contract rose by 12.2 to 454 yuan per barrel, with a night session increase of 15.8 to 469.8 yuan per barrel.

2 PTA marketContinuously strengthening.BDO MarketInterval fluctuation 。

3、 The equipment is in normal production.

Core logic: Raw material support is generally. The operators have a bearish mindset, and the PBT market is operating weakly.

II. Price List

Product	Region	2025/10/22	2025/10/23	Change Value
	NYMEX	58.5	61.79	3.29
	ICE Brent Crude Futures	62.59	65.99	3.4
BDO		7300-7500	7300-7500	0/ 0
PTA		4370	4430	60
PBT		7400-7700	7400-7700	0/ 0
Remark: 1 、 PTA Adopt the national standard premium spot price for self-pickup. BDO The price for the delivery of the drainage acceptance. PBT Select low to medium viscosity pure resin chips for delivery at the agreed price. 2 The above content is translated into English as "Crude oil is denominated in US dollars." / Bucket, others 3 The above variety is priced in Renminbi, unit: yuan. / Ton. 3 "The rise and fall value is the month-on-month change value."

3. Market Outlook

It is expected that the PBT market will operate cautiously today.Material surface PTASupply is expected to increase, but supply and demand remain tight. The balance sheet continues to deplete, and market concerns about supply risks are driving oil prices higher. With the cost side pushing up and low valuations, there is a short-term expectation for a continuous rebound in the PTA market. ；BDO The supplier's policy has slightly tightened to support the market. Many downstream industries are under cost pressure, with just-needed contract orders following up. Holders are cautious in their operations, mainstream quotations are stable, and the market transaction focus remains steady. The raw material market continues to fluctuate within a range. There is a lack of clear bearish or bullish drivers on the fundamentals, approaching the weekend. The PBT market may observe and operate. ， Longzhong expects that the price of low to medium viscosity PBT resin in the East China market today will be around 7,400-7,700 RMB/ton.

Data Calendar

Data	Release Date	Previous Data	This period's trend forecast
PBT Weekly production	Thursday 5:00 PM	2.37 Ten thousand Ton	↘
PBT Weekly Profit	Thursday 5:00 PM	-317 CNY/ton	↘
PBT Start of the week	Thursday 5:00 PM	55.69 %	↘
1 Consider large fluctuations as significant changes, highlighting data dimensions with price changes exceeding 3%.
2 Considered as narrow fluctuations, highlighting data with a price change within 0-3%.

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[PBT Morning Update] Expected Today PBT Market to Operate in Wait-and-See Mode

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