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【PET Daily Review】The polyester bottle chip market remains in a stalemate.

Longzhong 2025-03-24 16:53:27

1today's summary

①、Wan Kai, Hanjiang, Yizheng decreased by 30, China Resources decreased by 60, other factories stable (unit: yuan/ton)

②、Today, the domestic polyester bottle chip capacity utilization rate is 71.12%.

2spot overview

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

With the East China region as the benchmark, today's polyester bottle chip water bottle grade spot price closed at 6100 yuan/ton, stable compared to the previous working day, in line with early expectations.

Weekend oil prices edged up slightly, but raw material prices fluctuated. Polyester bottle chip factory prices were mostly reduced by 30, with the market focus on consolidation. March to April delivery goods traded at 6060-6150, mainly with lower-priced goods; the basis strengthened, and the 2505 contract was at par. Holders mainly sold goods, while downstream buyers replenished stocks as needed, with sporadic transactions. (Unit: yuan/ton)

3, Production Dynamics

Today, the capacity utilization rate of polyester chip has declined to 71.12%. In terms of profit, the price of raw material PTA has fallen, the price of MEG has risen, the polymerization cost has decreased, and the profit of polyester chip is at a loss of -164.39 yuan/ton.

4, market sentiment

Table 2 Domestic Polyester Chip Upstream and Downstream Practitioners' Sentiment Expectations

5, price prediction

As the end of the month approaches, some inventory holders face pressure to sell. With expectations of increased supply, the polyester bottle chip market is under more pressure. Traders and end-users have low intentions of stockpiling, and downstream buyers are only replenishing based on rigid demand, leading to a continuously weak trading atmosphere. Additionally, with raw material performance being mediocre, the polyester bottle chip market may lack upward momentum, and it is expected that the spot price for polyester bottle-grade chips will operate within the range of 6050-6130 tomorrow.

6, related product situation

PTAmarket:The spot market for PTA in the East China market has fallen, with negotiation references around 4835. For this week and next week, the main port delivery and warehouse receipt offers are at a discount of 5-10 and 10-19 to May, while bids are at a discount of 15 and 15-22 to May, with transactions and negotiations taking place. The main port delivery for April is offered at par to a premium of 15 over May, with bids at par to a discount of 5. The fundamental drivers are insufficient, and after the absolute price follows the cost decline and recovers, the spot basis remains stable but loosens. Market participants are cautious, and negotiations are in a stalemate. (Unit: yuan/ton)

MEG marketIn the morning, the ethylene glycol market showed a rebound from a low position. At the opening of the early session, the spot price in Zhangjiagang opened high around 4490. During the session, influenced by positive factors such as reduced inventory at the main port and increased maintenance plans for domestic ethylene glycol facilities, the trend remained strong. By noon, the spot negotiation was in the range of 4490-4495, with the spot basis running steadily in the 05+30 to 05+33 range. The South China market followed the upward trend, with petroleum grade delivery prices quoted around 4580, but buying interest was relatively cautious. Morning transactions were lower in volume. The US dollar market rose, with near-month cargo negotiations in the 524-527 range, but no deals were heard.

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【PET Daily Review】The polyester bottle chip market remains in a stalemate.

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