According to the Commodity Market Analysis System of Shengyi Society, the price of PET water bottle grade increased in early July, with an average price of 7230 yuan/ton as of July 12th.

Raw material market: On July 11th, there was no significant bullish or bearish driving force for cost and self supply and demand, and PTA spot prices tended to fluctuate. On the afternoon of July 11th, MEG futures fluctuated, with a basis difference of 35-40 compared to the 09 contract. This week’s trading was close to 4810 and the delivery was around 4805.

The recent decline in international oil prices has dragged down the prices of polyester dual raw materials. Due to insufficient cost support and low industry processing fees, major polyester bottle chip manufacturers have started to raise prices and reduce production to ensure processing fees. As a result, market prices have risen and processing fees have relatively recovered.

The current factory price for PET water bottle grade is hovering between 7250 yuan and 7450 yuan. For the goods to be delivered from July to August, the ex factory price negotiated by the buyer and seller ranges from 7100 yuan to 7200 yuan. The export quotation for polyester bottle flakes is also stable, with an initial quotation of $920 to $940 per ton FOB China main port for goods shipped from July to August. However, in actual negotiations, the price has fallen back to the range of $910 to $930 per ton FOB China main port.

Business Society PET analyst believes that the PET market is expected to maintain its current trend in the short term.