According to the Commodity Market Analysis System of Shengyi Society, the price of PET water bottle grade has shown a downward trend this month. As of August 30th, its average market price has been adjusted to 6767 yuan per ton.

In terms of raw material market this month, PTA prices have declined. As of August 29th, the average price of PTA in China was 5383 yuan/ton, a decrease of more than 7% from the average price of 5830 yuan/ton in the East China market on August 1st, which failed to provide effective cost support for the PET market. In terms of ethylene glycol, the price range fluctuated this month, first falling and then rising, and the current price is the same as at the beginning of the month.

Overall, PET cost support is average, market demand is weak, and trading activity has significantly decreased, leading to a further decline in the focus of PET futures and spot prices.

In terms of supply, although maintenance and restart coexist, the pressure on the supply side still exists under the expectation of new production. On the demand side, both upstream and downstream demand maintain bargain hunting purchases, and with futures listed, the industry’s wait-and-see sentiment is becoming increasingly strong.

In response to the current situation, senior analysts in the PET sector of Shengyi Society pointed out that due to insufficient cost support and relatively loose supply prospects, the PET market may continue its weak consolidation pattern in the short term. However, the actual trend still depends on the trend of the raw material side and whether subsequent maintenance can be implemented.