[PBT Weekly Outlook] PBT Market Expected to Weaken Today

I. Points of Attention

1 On 7/25: Although market concerns about US tariff issues have somewhat eased, some poor economic data has made traders cautious, leading to a drop in international oil prices. NYMEX crude oil futures for the September contract fell by $0.87 to $65.16 per barrel, a decrease of 1.32% compared to the previous period; ICE Brent crude futures for the September contract fell by $0.74 to $68.44 per barrel, a decrease of 1.07% compared to the previous period. China's INE crude oil futures main contract 2509 rose by 4.3 to 508.6 yuan per barrel, while the night session fell by 6.7 to 501.9 yuan per barrel.

2 PTA MarketThe center of gravity is strengthening.BDO MarketNarrow decline 。

3、 The equipment is operating stably.

Core Logic: Raw materials show mixed fluctuations This has intensified the wait-and-see sentiment in the PBT market, leading to weak and stable market prices.

2. Price List Form

3. Market Outlook

The PBT market is expected to operate weakly today. Raw materials side PTA Domestic supply remained stable this week, with a slight increase in demand. Supply still exceeds demand, leading to continued inventory accumulation in the balance sheet. Traditional off-season end-users lack orders, and purchasing enthusiasm in the polyester sector is not strong. Coupled with the absence of substantial positive factors from external markets, the PTA spot market is expected to continue its weak trend in the short term. ；BDO There is increased pressure on demand, and some downstream industries have strong resistance to high-priced raw materials. The new cycle sales policy has been relaxed, resulting in a bearish sentiment among holders, with real deals being negotiated with concessions, dragging the market focus downward. Cost-side expectations are weakening. or continue to negatively impact PBTThe market sentiment and negotiation focus may experience a weak fluctuation. ， Longzhong estimates that the low to medium viscosity PBT resin in the East China market is priced at 7,800-8,200 yuan/ton today.

4. Data Calendar