1、Today's Summary

① The quotations from Tenglong remain stable, while other factories have lowered their quotations by 50-120 (Unit: RMB/ton).

② Today, the operating rate of domestic polyester bottle chip production capacity has reached 69.05%.

2、Spot Overview

Taking East China as the benchmark, today's spot price for water-grade polyester bottle chips closed at 6150 RMB/ton, a decrease of 110 from the previous working day, in line with early expectations.

Tariff news continues to disrupt the commodity market. Under the influence of crude oil, the prices of polyester raw materials and polyester bottle chips have significantly dropped. Factories have lowered their quotations by 50-120, with April delivery orders ranging from 6180 to 6250; the selling prices of stockholders have declined, March delivery orders are traded at 6130-6200 or futures contract 2505 at a discount of 10 to 20. High-priced goods have not heard of actual transactions, some traders are covering shorts, and there is a need to replenish stocks at low levels. Partial large-scale plants have seen increased transaction volumes, but overall market transactions are average. (Unit: RMB/ton)

3、Production Dynamics

Today, the operating rate of polyester bottle chip production capacity has increased to 69.05%. In terms of profit, the price of PTA, a raw material, has decreased, and the price of MEG has also fallen, reducing the polymerization cost. The profit of polyester bottle chips is at a loss of -203.24 RMB/ton.

4、Market Sentiment

5、Price Forecast

The news of additional tariffs continues to ferment, potentially suppressing the ongoing weakness in chemical products. The industry's restocking mentality is cautious, and the end-users maintain just-in-time restocking.