[PET Daily Review] Polyester Bottle Chip Market Fluctuates Weakly

1 Today's summary

① Many factories report stability, Wankai - 30, Tenglong - 100 (unit: yuan/ton)

The domestic polyester bottle chip capacity utilization rate has reached 73.05% today.

2. Spot Overview

Based on the East China region, today the spot price for polyester bottle-grade flakes is 5670, which is stable compared to the previous working day, in line with morning expectations.

Crude oil continues to decline, and raw materials remain weak. The prices of polyester bottle flakes from factories mostly remain stable, with some local adjustments downward. The market focus is fluctuating weakly, with some traders covering their short positions and a small amount of follow-up from the end users. It is heard that December cargo transactions are around 5650-5700, slightly lower at 5590 and slightly higher at 5720, with trading atmosphere being quieter compared to yesterday. (Unit: yuan/ton)

Production Dynamics

Today, the capacity utilization rate of polyester bottle chips reached 73.05%. In terms of profit, the price of raw material PTA has dropped to 4612, while the price of MEG has risen to 3668. The polymerization cost decreased by 8.09 to 5190.49, resulting in a loss of 120.49 yuan/ton for polyester bottle chips.

4. Market Sentiment

Table 2 Domestic Polyester Bottle Chip Upstream and Downstream Practitioners' Sentiment Expectations (Updated on Monday)

5. Price Prediction

Raw material prices fluctuate, but the crude oil market expectations are bearish, leading to a cautious industry sentiment. After recent replenishments, end users are primarily focused on inventory digestion, and the polyester bottle chip market may temporarily maintain a sluggish state.It is expected that the spot price of polyester bottle flakes for water bottles in the East China region will be between 5650-5720 yuan/ton.

6. Related Product Information

PTA MarketEast China MarketPTA priceBottom edge ， Negotiate around 4605. December. In major ports, the offer for delivery in January is at a discount of 15-20, with bids at a discount of 20-30 having transactions. The market sentiment for the product is not good, with weak price consolidation in the morning. The spot basis remains relatively stable, but buying sentiment is subdued. Market demand is limited, with discussions and transactions being light. 。（ Unit: Yuan/ton

MEG MarketMorningEthylene glycol marketThe market fluctuated narrowly, with the Zhangjiagang spot price opening higher at around 3677 in the morning session. However, buying momentum was weak during the day, lacking sustained rebound strength. For most of the time, prices ran in the 3655-3670 range, and by the midday close, spot prices were in the 3655-3658 range. The spot basis remained stable from 01-18 to 01-15. The South China market was relatively stable, with petroleum-grade delivered prices quoted around 3920. Buyers were cautious, and the USD market fluctuated narrowly, with recent arrivals negotiated in the 434-436 range, and the far-month premium at 4 USD.