As overseas public health incidents tend to intensify, the market is worried about reduced demand, and crude oil prices continue to fall. The polyester bottle flakes slide down as the raw material end oscillates.
In terms of prices, crude oil fell sharply in the last week of February, and the chemical sector declined overall, dragging down PTA. obvious. The quotations of polyester bottle flake manufacturers have been reduced within a narrow range, and the market focus has fallen rapidly. The development of domestic public health incidents is stable, but terminal soft drink consumption has dropped significantly, and downstream soft drink companies have high inventories of finished and semi-finished products, so construction starts are still at a low level. Sheet and preform processing companies have resumed operations in many places and have returned to 80%-90%. Subsequent orders are slightly insufficient, which may affect the demand for bottle flakes. During the week, many downstream traders were afraid of falling prices, and terminals were replenishing goods on demand. Intermediaries are cautious in trading and have limited efforts to take orders. As of February 28, the market price of polyester bottle flakes and water bottle materials was 6,100 yuan/ton, a month-on-month decrease of 3.17%, and a year-on-year decrease of 26.06%.
Table 1 Price comparison table of polyester bottle flakes in East China
In terms of supply and downstream demand, as of February 28, soft drinks Industry starts remain low. On the one hand, the time it takes for factory workers to return to work is affected. On the other hand, manufacturers are slow to digest raw materials, have serious backlogs of finished and semi-finished products, and are often delaying shipments of bottle flakes. During the week, most bottle flake companies have started operations stably, and some manufacturers have plans to increase their load. Among them, 400,000 tons of 1 million tons of equipment at a large factory in East China will continue to be inspected and maintained, and 70% of the other 600,000 tons will be started and the load will be gradually increased on March 1. As of February 28, the start-up of the polyester bottle flake industry has temporarily stabilized at 59.60%, which is the same as last week and down 14.72 percentage points year-on-year.
In the short term, cost-end PTA continues to accumulate inventory, downstream textile and weaving operations are slowly recovering, and personnel issues are still a major influencing factor. With no significant recovery in demand, PTA may adjust weakly.
On the demand side, although the domestic public health incident has developed steadily, tourism and conferences have not recovered in the short term, and terminal consumption has not improved, which will continue to suppress the demand for bottle tablets. On the supply side, the high inventory of bottle flake manufacturers will be difficult to alleviate in the short term, and the restart of equipment and planned new production are likely to be delayed. Considering the influence of bank and financial policy factors, it is necessary to continue to pay attention to manufacturer dynamics. The bottle flake market is expected to continue to weaken next week. </p
