SunSirs: China Domestic PET Prices are Narrow and Weak

　　According to the data monitored by SunSirs, as of October 26, the average price of PET water bottle manufacturers was 8,200.00 RMB/ ton, and the pet price was mainly stable (October 19-26). Compared with the same period last week, the price did not change, and the price fell by 5.03% compared with the same period last month. PET remained weak and the negotiation atmosphere was general.

　　Last week, the domestic PET price was stable and weak, mainly stable, and the transaction atmosphere in the spot market was positive. At present, the overall market operating rate is normal, the downstream just needs to purchase, and the atmosphere is weak. The mainstream price is about 8,200 RMB/ ton, with a narrow downward trend. The manufacturers actively ship, smooth logistics and normal supply.

　　Upstream PTA operates in a narrow range, and the mainstream price is about 5,300 RMB/ ton. On October 20, the average price of domestic PTA spot market was 5,390 RMB/ ton, down 2.45% RMB/ ton from the previous day, up 56.58% year-on-year. The main futures 2201 closed at 5,440 RMB/ ton and settled at 5,410 RMB/ ton, down 90 RMB/ ton, down 1.63%.

　　SunSirs pet analysts believe that China pet market will remain stable and weak in the short term.