According to the price data from Shengyi Society, the price of polyester bottle flakes (PET) first stabilized and then increased this week, rising from 5985 yuan/ton at the beginning of the week to 6035 yuan/ton, with a weekly increase of 0.84%.
On the 18th, crude oil and polyester raw materials rose, driving a slight increase in the price of polyester bottle chips. The cost support for PET was strengthened, and coupled with the tight circulation of local spot goods, the PET market price rose accordingly.
In July, major polyester bottle chip manufacturers implemented production cuts, with multiple companies planning to reduce production by approximately 2.56 million tons. The expectation of reduced production on the supply side has tightened market liquidity, which has a certain supporting effect on prices and is one of the factors driving price increases in the later stage. Although July to September is the peak season for soft drink consumption, downstream beverage factories usually stock up in advance. However, from the actual situation, the demand side performance is relatively flat and has not formed strong support for prices. On the 18th, although the market rose due to rising costs, insufficient demand limited the increase. Downstream wait-and-see is the main trend, and traders and end-users have a low willingness to replenish. Transactions are mainly based on small orders for essential needs, and the acceptance of high priced goods is limited.
Overall, Shengyi Society believes that the narrow adjustment of PET market prices in the short term is mainly influenced by raw material prices. The actual trend still needs to pay attention to changes in external news, device changes, and demand recovery in the future.