[pet daily review] polyester bottle chip market stalemate

1 Today's Summary

1. How stable is the factory price? Unit: yuan/ton

②. Today, the domestic polyester bottle chip capacity utilization rate is at 71.53%.

2 Spot Overview

Table 1: Summary of Domestic Polyester Bottle Chip Prices (Unit: Yuan/Ton)

The spot price of PET bottle-grade polyester in East China was 5,850 today, remaining unchanged from the previous trading day, in line with the morning expectations.

The cost shows a fluctuating trend, factory offers remain stable, market offers slightly decline, inquiries are not ideal, and transactions are stagnant. Offers for September to November supply are at 5800-5890, September to November contract offers a premium of 50-70 over 2511, with a lower discount of 0-40 over 2511; inquiries are at 5780-5850, with a higher range of 5860-5900, September to November contract bids are at a discount of 50-70 over 2511, with a higher discount of 0. Unit: RMB/ton.

3. Production Update

Today, the capacity utilization rate of polyester bottle-grade chips is 71.53%. In terms of profit, the price of raw material PTA increased by 8 to 4,620, MEG price decreased by 9 to 4,373, polymerization cost increased by 4 to 5,415, and the profit loss of polyester bottle chips was 183.54 yuan/ton.

4. Market Sentiment

Table 2: Sentiment Expectations of Domestic Polyester Bottle Chip Upstream and Downstream Practitioners (Updated on Mondays)

5. Price Forecast

The market lacks new positive drivers.Market inquiries are relatively poor, basis weakens slightly, supply-side support is limited, expectations. Polyester bottle chips are expected to continue fluctuating tomorrow. The spot price of polyester bottle chips for water bottle material in the East China region will range between 5800-5900 RMB/ton.

6. Related Product Information

PTA Market: Today's PTA spot price +8 To 4620 。 9 The main port for the month quoted a discount of 70-75 on the 01 contract, with bids at a discount of 75-80 and transactions concluded. For October, the main port quoted a discount of 50-55 on the 01 contract, with transactions around a discount of 60. Cost and supply-demand are driving in opposite directions, with bulls and bears continuously contending. The absolute price fluctuated intraday and eventually closed higher. The spot basis fluctuated within a narrow range, and overall transaction volume was average. (Unit: yuan/ton)

MEG market  ： Morning Ethylene Glycol Market The market mainly showed weak consolidation. In the morning session, Zhangjiagang spot prices opened around 4366. During the session, there was a stalemate between buyers and sellers, leading to a narrowing of price fluctuations. Near the midday close, prices rose to around 4380. The spot basis remained stable at around 01+80 to 01+83. The South China market was weak and stable, with the petroleum-grade delivery price quoted at 4480. Downstream purchasing was cautious, and October cargo transactions in the US dollar market were discussed in the range of 515-518.