According to price data, the price of polyester bottle flakes (PET) continued its weak downward trend this week, dropping from 6012 yuan/ton at the beginning of the week to 5960 yuan/ton at the end of the week, with a weekly decline of 0.87%.
| Gamma-PGA (gamma polyglutamic acid) |
In terms of cost, the decline in crude oil prices, OPEC+production expectations, and uncertainty about US tariff policies have led to Brent crude oil falling to $68.64 per barrel (-2.21% MoM), directly dragging PTA spot prices down to $4870 per ton and ethylene glycol falling below $4400 per ton.
In terms of supply and demand, the weekly production decreased to 327000 tons (month on month -2.72 million tons), and the capacity utilization rate dropped to 71.5% (month on month -5.9 percentage points), mainly due to the joint production reduction of 20% by top enterprises such as Wankai and Yisheng. Despite the contraction of supply, the industry’s inventory days remained at a high level of 16-18 days, and sufficient spot circulation continued to suppress price rebound. The operating rate of soft drinks remains at 80% -90%, with high inventory of end products (such as 23.64 days in the finished product warehouse of textile enterprises), and only sporadic small orders for replenishment, without the motivation to chase price increases.
Overall, Shengyi Society believes that the polyester bottle chip market is in a triple game stage of weak cost support, strong supply contraction, and stable demand growth. If crude oil continues to decline or demand weakens, it may explore the support level of 5800 yuan/ton.
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