SunSirs: Poor Cost Support, China PET Market is Weak

　　According to the data monitored by SunSirs as of August 19, the average price of pet water bottle manufacturers was 7,300.00 yuan / ton, and the domestic pet market was weaker. Compared with the same period last week, the price fell by 1.35%, or 100 yuan / ton. The pet market trend was weak.

　　This 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 yuan / ton. The upstream just needs to purchase, the gas is insufficient, the transaction atmosphere is flat, the main manufacturer’s shipment is slow, the cost support is weak, and the upstream raw material price fell. Affected by this, PET fell weakly.

　　The continuous decline in energy prices has led to a weak shock of ethylene glycol in the upstream of PET. At present, the mainstream price range is about 5,500 yuan / ton, maintaining a weak trend in the short term. Ethylene glycol commodity index: on August 18, the ethylene glycol commodity index was 53.72, unchanged from the previous day, down 48.77% from the highest point 104.87 in the cycle (2011-09-18), and up 60.21% 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 weak in a narrow range in the short term.