1. Market overview for this week

During this period, the PBT market in East China is experiencing weak fluctuations, with increasing pressure on the supply side. As of the market close on March 27, the mainstream price of medium to low viscosity PBT resin in East China is between 7900-8200 yuan/ton. On the supply side, Changchun Chemical's PBT plant has completed maintenance and is operating normally, while Changhong Biological has two production lines running for PBT. On the raw material side, the BDO market is weak and cautious this week, while the PTA market has seen price fluctuations strengthening. This week, the raw material support remains stable, but its support for the PBT market is limited, and supply-side pressure is increasing. The market atmosphere is cautious, with a weak and volatile market focus, and there are reports of low prices circulating in the market. The terminal demand for PBT has shown limited improvement, and the market sentiment remains thick with caution, resulting in generally average actual trading activities.

2. Market Influencing Factors Analysis

-0.74%: The domestic PBT weekly average price is 8010 yuan/ton, a decrease of 0.74% compared to last week.

+4.47%: The industry operating rate this week is 54.32%, an increase of 24.19% compared to last week.

-24.19%: This week, the average gross profit of domestic PBT is -498 yuan/ton, a decrease of 24.19% compared to the previous week.

3. Market Forecast for Next Week

Next week, the PBT market is expected to experience range-bound fluctuations. On the supply side, the PBT facilities in Meizhou Bay, Fujian, have plans to restart, which may continue to boost production; on the demand side, there may be an increase in market entry willingness, with transactions primarily centered around basic needs. Next week, some PBT facilities are preparing to restart, which may increase supply and continue to weigh on market sentiment, but significant adjustments in pricing are unlikely. End users are cautious in their market entry, primarily replenishing stocks on dips, leading to a continuation of range-bound fluctuations in the market. Longzhong anticipates that the price of medium and low viscosity PBT resin in the East China market will be around 7800-8100 yuan/ton next week.