1Today's Summary

1. Wankai increased by 30, Huaron, Yizheng, and Hanjing increased by 50, other factories remain stable (unit: yuan/ton)

The domestic polyester bottle chip capacity utilization rate reached 75.02% today.

2Spot Overview

Taking East China as the benchmark, the spot price of PET bottle-grade chip for water bottles closed at 6110 today, up 20 from the previous working day, which is inconsistent with the early expectation.

Continuing to rise, pushing the upstream of raw materials. Supported by costs, the prices of polyester bottle flakes have increased by 30-50 at some factories, while most factories have reported stable prices. Low-priced sources in the market have been reduced, with reports of transactions for March-April cargoes at 6070-6150, and downstream demand for replenishment is minimal. The basis remains stable, with the 2505 contract showing a discount of 20 to a premium of 70. The industry is characterized by a strong wait-and-see sentiment, awaiting new guidance. (Unit: yuan/ton)

Production Dynamics

Today, the capacity utilization rate of polyester bottle chips has fallen to 75.02%. In terms of profit, the prices of raw materials PTA and MEG have increased, leading to higher polymerization costs, resulting in a loss of 217.93 yuan/ton for polyester bottle chips.

4. Market Sentiment

5. Price Prediction

Due to external uncertainties, international oil prices are showing strong fluctuations. There is certain support from the raw material side. However, downstream demand is weak, primarily focused on inventory digestion, with low replenishment intentions. As maintenance units restart, the supply side has seen a noticeable increase, making it difficult for the polyester bottle chip market to follow suit. It is expected that the spot price of polyester bottle chip water bottle material will operate in the range of 6070-6150 tomorrow.

6. Related Product Information

  PTAMarket:The spot market price of PTA in the East China market has risen, with trading references around 4905 nearby. For this week and next week's main port delivery and warehouse receipts, the offer is at par to 5 RMB discount to TA05, while the bid is around 10 RMB discount to TA05. For mid-to-late April main port delivery, the offer is at a 10-15 RMB premium to TA05, and the bid is around a 10 RMB premium to TA05 for deals to be made. The expectation of reduced supply from suppliers has boosted sentiment, with early prices strengthening and the spot basis also relatively strong. Market participants remain cautious, leading to a stalemate in market discussions. (Unit: CNY/ton)

  MEG marketToday, the ethylene glycol market showed a rebound trend. At the opening, the spot price was around 4500, and during the day, the bulls regained confidence, with prices maintaining a fluctuating upward trend. The closing price was discussed in the range of 4522-4525. The spot basis strengthened, operating in the range of 05+35 to 05+38. The performance in the South China market was average, and the downstream purchasing enthusiasm was not high, resulting in light trading.

7. Data Calendar