[PET Daily Review] Cost and Supply Provide Dual Support, Prices Rise

1. Today's Summary

2. Spot Overview

Based on the East China region, today's spot price for bottle-grade polyester chips is 6,150 yuan/ton, an increase of 50 yuan/ton compared to the previous trading day, in line with morning expectations. International crude oil prices continue to rise, boosting market sentiment, and combined with a reduction in industry supply, this has driven the polyester chip market upward. Factory quotes have generally increased by 40-80 yuan/ton, with market prices rising significantly in the morning and showing a slight decline in the afternoon. It is reported that the transaction price range for January cargo is 6,100-6,170 yuan/ton, with traders mainly focused on replenishing stocks, while end-users are only making minimal purchases based on immediate needs, resulting in overall sluggish trading activity. The basis has weakened, with the 2603 contract trading at a discount of 10 yuan/ton to a premium of 30 yuan/ton, and the current processing fee for spot goods has recovered to around 550 yuan/ton.

3. Price Forecast

The commodity market is resonating upwards, with significant support from the raw material side, coupled with a continued tight supply in the industry. It is expected that the polyester bottle chip market will maintain a generally strong oscillating operation pattern. Tomorrow, the spot price for polyester bottle chip recycled material in the East China region is likely to fluctuate in the range of 6100-6250 yuan/ton, and attention should be paid to changes in the local geopolitical situation.