Introduction: Since late July, the domestic bottle-grade PET market has continued to fluctuate at a low level, and the market fluctuations have narrowed. Although it is still the peak season for beverage demand, the overall demand this year is weaker than in previous years. In addition, the raw material market remains stalemate and the market lacks certain support, so it is difficult for the market to get rid of the low situation.
Data source: Jinlian By late July, after the domestic bottle-grade PET market fell to a relatively low level, the market price in East China continued to hover around 5150-5300 yuan/ton, and the market was in a state where it was easy to fall but difficult to rise. situation. Bottle flake manufacturers mostly maintain delivery of early orders, while follow-up on new orders has slowed down, and inventories are also on the rise. The market mentality is becoming cautious, the market transaction atmosphere is light, and the focus of transactions is on the low end. Let us briefly analyze the reasons for the current low market stalemate.
First of all, from the raw material side that dominates the market trend, the raw material PTA market has continued to be in a narrow consolidation trend recently. The high inventory of raw materials is difficult to alleviate, and the terminal demand continues to be difficult to improve. The market The contradiction between supply and demand is prominent, the market continues to fluctuate, and the cost side has a weak driving force on the market.
Secondly, from the perspective of market supply, the market supply has been relatively sufficient recently, and the inventory pressure of manufacturers has gradually increased. The new production capacity this year is 1.45 million tons, which has a great impact on the market. At present, only the Chenggao device is in a shutdown state, and other manufacturers’ devices are under high load. The market supply is sufficient, and the sales pressure of manufacturers is increasing. Due to the impact of the epidemic this year, export orders have shrunk significantly. The total export volume from January to July this year dropped by 25% compared with the same period last year, putting greater pressure on domestic sales. The Chenggao device is scheduled to start operation in mid-to-late September, which will definitely have a wave of impact on the market.
Once again, the overall downstream demand this year is weaker than in previous years. Due to the impact of the epidemic and domestic rainy weather, the downstream operation level is low, and the enthusiasm for PET procurement is not high, and the stocking is mainly for urgent needs. . Most of the major downstream manufacturers have prepared sufficient raw material inventories for the third and fourth quarters. Although some major manufacturers continue to reserve raw materials for the first and second quarters of next year, the lower prices have made bottle tablet manufacturers reluctant to sell more, so market transactions are limited. Weak demand has long weighed on the market.
According to Jin Lianchuang, the current domestic bottle-grade PET market still lacks supporting power. Although other polyester products have gradually entered the traditional peak season, there are no obvious signs of improvement in terminal textile demand. , weaving enterprises continue to have high inventories, market confidence has not yet been restored, the polyester raw material market will also continue to fluctuate, the market lacks effective support, and the market supply and demand are still weak, putting pressure on the market, so the domestic bottle-grade PET market will be difficult in the future Get rid of the low shock pattern.
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