In the ever-evolving realm of supply chain management, being in the know about market conditions is a vital part of making smart business decisions. As of October 2023, the PET (Polyethylene Terephthalate) market is expected to be weaker in a narrow range in the short term, with prices slightly decreasing and maintaining around 7,200 RMB/ton.
Meanwhile, the Polypropylene (PP) market has seen some producers directing their materials towards exports, which has impacted the availability of immediate supplies. We’ve also noticed minor price fluctuations in various Polyethylene (PE) resin grades.
On the pulp side of things, both softwood and hardwood pulp markets have shown notable price increases throughout September but a slight decline to the start of Q4.
This supply chain update aims to provide a comprehensive look at these market conditions and their implications for businesses in these sectors, offering insights to assist with strategic decision-making in this ever-changing landscape.
PET (Polyethylene Terephthalate) Market
As of October 2023, the PET market supply and demand were balanced. This week’s PET prices were weaker, with a 0.55% decrease compared to the same period last week as the focus of negotiations were relatively low, with the mainstream price around 7,200 RMB/ton. Latest key PET enterprises quoting prices as follows:
- Jiashan Plastic Trading Co., Ltd.: 6,900 RMB/ton
- Shanghai Shangxinrun New Materials Co., Ltd.: 7,450 RMB/ton
- Shanghai Hongqi Plastic Technology Co., Ltd.: 7,500 RMB/ton
Experts in the PET market anticipate that stability will maintain although we’ve seen a weak start to Q4 with prices staying close to 7,200 RMB per metric ton.
Key Takeaway: Direct consumers should expect a steady rate through Q4 with minimal changes in the PET market from Asia, with the consideration of crude oil and transportation staying consistent.