According to the latest market information, the polyester bottle chip market has shown an overall trend of first suppressing and then rising this week. According to data from Shengyi Society, on November 7th, the average selling price of PET was 5780 yuan/ton.
At the beginning of the week, the price of polyester bottle chips fell under pressure, mainly due to the game between low PTA processing fees and abundant spot goods, coupled with the recovery of supply side operating rates, while downstream is in the off-season with light demand. Starting from Thursday, stimulated by rumors of PX plant maintenance, the raw material side has strengthened, driving the rebound of bottle chip prices. As of November 7th, the East China market closed in the range of 5700-5800 yuan/ton, with a weekly average price of 5744 yuan/ton, a slight decrease of 0.23% compared to the previous month.
Cost driven factors led to the weakening of crude oil prices at the beginning of the week, dragging down the price of polyester bottle chips. Later, geopolitical risks drove oil prices to rebound, and cost support rebounded, driving up the price of bottle chips. The most direct trigger for Thursday’s rebound was rumors of PX plant maintenance, which increased market expectations of a tightening in raw material supply, thereby driving up bottle chip prices from the cost side.
Despite rising costs, the market supply is relatively loose in maintaining loose supply. This week, the utilization rate of domestic polyester bottle production capacity remained at 72.59%. Although some facilities in southern China are undergoing maintenance, there have also been facility restarts in eastern China, resulting in overall capacity hedging and minimal changes in supply.
The demand is currently in the seasonal off-season, and downstream demand is the main factor suppressing prices. The industry is in a seasonal off-season, and downstream factories mainly rely on rigid demand to replenish inventory, lacking enthusiasm for large-scale stocking, which restricts the upward space of bottle chip prices. The export data in September also provided evidence for the weak demand side, with the export volume of polyester bottle flakes reaching 467700 tons, a decrease of 10.18% compared to the previous month.
Overall, Business Society believes that the polyester bottle chip market will continue to fluctuate in the short term and may operate steadily with a moderate to warm trend. Main operating range: It is expected that the price will fluctuate within the range of 5700-5900 yuan/ton in the short term.
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