1today's summary

Wan Kai, China Resources, and Yizheng increase by 30, Yuanfang and Taibao increase by 50, other factories remain stable (unit: yuan/ton)

②、Today, the domestic polyester bottle chip capacity utilization rate is 70.63%.

2spot overview

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

Taking the East China region as a reference, today's polyester bottle chip water bottle grade spot price closed at 6100 yuan/ton, up 30 from the previous working day, in line with early expectations.

Crude oil boost, raw material prices fluctuate, some polyester bottle chip factories raise quotes by 30-50, while others remain stable, causing the market focus to rise. Low-priced supplies are reduced, with March-April cargo offers at 6070-6160, and some local supplies slightly higher at 6250; it is heard that actual transactions are in the range of 6060-6150, with downstream buyers replenishing stocks as needed. The basis remains largely unchanged, with May 25 contract discounts ranging from 10 to a premium of 70, and trading is stagnant. (Unit: RMB/ton)

3, production dynamics

Today, the capacity utilization rate of polyester chip declined to 70.63%. In terms of profit, the price of raw material PTA increased, the price of MEG decreased, the polymerization cost increased, and the profit of polyester chip was at a loss of -173.35 yuan/ton.

4, market sentiment

Table 2 Sentiment Expectations of Upstream and Downstream Practitioners in the Domestic Polyester Chip Industry

5, price prediction

As maintenance units restart, supply-side pressure increases, and with the end of the month approaching, some factories are urging for goods pickup. Downstream demand is average, with some holders facing increased pressure to sell, leading to a phenomenon of selling at low prices. In the short term, raw materials PX and PTA lack support, and it is expected that the polyester bottle chip market may undergo a weak consolidation next week, with the spot price of polyester bottle chip water bottle material expected to operate within the range of 6030-6130.

6, Relevant Product Information

  PTAmarket:The spot market for PTA in the East China market has risen, with negotiations referencing around 4875. For March main port delivery and warehouse receipts, offers are at a discount of 10-12 to May, while bids are negotiated at a discount of 12-13 to May. For April main port delivery, offers are at a premium of 15-20 to May, while bids are around a premium of 5 to a discount of 5 to May. Overnight crude oil rebounded, boosting absolute prices in the morning, which then fluctuated. The spot basis remained largely stable, with cautious sentiment among traders and a standoff in market negotiations.

  MEG marketToday, the ethylene glycol market was mainly characterized by weak fluctuations. At the opening of the morning session, the spot price in Zhangjiagang opened around 4430. During the session, discussions improved slightly due to the support of main port inventory, but market confidence remained insufficient. After a weak rebound, the market fell back again towards the end of the session, with closing prices discussed around 4445. The spot basis strengthened, operating within the range of 05+25 to 05+28. The South China market was stable with a slight decline, and downstream buying interest was average, with limited changes in transactions.