SunSirs: Raw Materials Fell, the Cost Support was Insufficient, China PET Market was Weak and Volatile

　　According to the data monitored by SunSirs, as of August 24, the average price of PET water bottle manufacturers was 7,200.00 yuan / ton. The overall PET market was weak and volatile, and the price decreased slightly. Compared with the same period last month, the price increased by 0.42%, and compared with the same period last week, the price decreased by 1.37%, maintaining a weak operation in the short term.

　　From July to August, the PET market price fluctuated weakly and the price decreased slightly. At present, the mainstream quotation range is 7,200 yuan / ton. At the beginning of August, the PET market price fluctuated upward and the price rose. Since mid August, the price has continued to operate weakly and fluctuated in a narrow range. The price at the beginning of August was 7,380 yuan / ton, and at the end of August, the price was 7,200 yuan / ton, a decrease of 180 yuan / ton. The upstream just needs to purchase, and the gas is insufficient, The transaction atmosphere was flat, the main manufacturers shipped slowly, the cost support was weak, the price of upstream raw materials fell, and PET maintained the early trend in the short term.

　　The upstream PTA market is weak. Since mid August, the spot market has shown a slight weakening trend. As of August 23, the average market price was 4,965 yuan / ton, and the downstream demand was general. It is expected that the PTA price will remain weak in the later period.

　　The upstream ethylene glycol market is weak and volatile, and the market price is reduced. The average spot price in East China is 5,045 yuan / ton. The trading atmosphere of the overall ethylene glycol market is cold, and the weak trend will be maintained in the short term.

　　PET commodity index: on August 23, the PET commodity index was 54.14, down 0.75 points from the previous day, down 47.82% from the highest point 103.76 in the cycle (September 22, 2011), and up 47.96% from the lowest point 36.59 on November 10, 2020(Note: period refers to the period from September 1, 2011 to now).

　　SunSirs PET analysts believe that China PET prices are mainly weak, and the fluctuation range is limited.