SunSirs: China PET Market was Weak and Fluctuated in a Narrow Range Last Week

　　According to the data monitored by SunSirs, as of August 27, the average price of PET water bottle manufacturers was 7,100.00 RMB/ ton, and the domestic PET market was weaker. Compared with the same period last week, the price fell by 2.74%, compared with the same period last month, the price fell by 3.79%, or 100 RMB/ ton. The PET market trend was weak.

　　Last week, the domestic PET market price fluctuated and weakened. Compared with the same period last week, the price fell by 1.35%, with a decrease of 100 RMB/ ton. The upstream just needed to purchase, the gas was insufficient, the transaction atmosphere was flat, the main manufacturers shipped slowly, the cost support was weak, and the upstream raw material price fell. Affected by this, the PET fell weakly.

　　The upstream ethylene glycol fluctuated downward, the mainstream price was about 5,400 RMB/ ton, the downstream demand was weak, the price fell for a time, and the negotiation atmosphere was cold. Some plant units are under maintenance, and the recovery time has not been determined. It is expected to maintain the early trend in the short term.

　　On August 27, the ethylene glycol commodity index was 52.56, up 0.6 points from the previous day, down 49.88% from the highest point 104.87 in the cycle (September 18, 2011), and up 56.76% from the lowest point 33.53 on April 2, 2020(Note: period refers to the period from September 1, 2011 to now).

　　SunSirs PET analysts believe that PET is expected to continue weak operation this week.