According to the analysis system of the commodity market of the Business Society, as of April 17th, the price trend of PET water bottle grade has been upward, with a slight increase in price. Compared to the same period last week, the price has increased by 3.35%, and the current average price is 7896.00 yuan/ton. The mainstream price is around 7900 yuan/ton. The supply and demand of the PET market is balanced, and the focus of negotiations is on the rise.

From the weekly K-bar chart of PET, it can be seen that since 2023, the price of PET has shown a continuous upward trend. In the first quarter, the overall market supply of PET was tight, and the price increase was significant. After entering the narrow and weak PET market in early April, the price rose again. The raw materials were boosted, and the cost support was strong, driving the focus of negotiations in the PET market to rise and prices to rise.

In terms of demand: The overall market negotiation atmosphere for PET is good, and the focus of negotiations has increased. In the first quarter, there was a tight supply of goods, but in the second quarter, demand has recovered, terminal operating rates have increased, raw material cost support is strong, and downstream procurement enthusiasm has increased.

Upstream: The PTA price of upstream raw materials is relatively strong, and the market situation has slightly increased. Currently, there is sufficient supply, and cost pressure still exists. In the short term, it will maintain a stable, medium, and strong trend. Upstream ethylene glycol has a narrow range and strong trend, and in the short term, the trend is improving. Supply side pressure is increasing, and some enterprises have maintenance plans.

PET analysts from the business society believe that PET prices are mainly affected by the cost side of upstream PTA. At present, PTA operates at a high level, and prices rise. In addition, with the temperature rising, the market’s demand for bottled water increases, and the demand side of PET will further improve. It is expected that the price of PET will easily rise but not fall in the short term.