PET Industrial Chain Embraces for Supply Growth and Price Decline
The PET industrial chain got into a standoff in Q3, 2020. The supply of most products rose greatly from last year, especially PX and MEG whose Y-O-Y growth rate was over 10%. As for price, the decline in PET feedstock was far larger than that in PET products. Thereinto, the PTA market was tepid, while the MEG market was relatively firm.
As for PTA, from January to June 2020, the supply increased by 7% Y-O-Y while the price dropped by 40% Y-O-Y. From January to July 2020, the supply increased by 8% Y-O-Y while the price dropped by 40% Y-O-Y. From January to August 2020, the supply increased by 8% Y-O-Y while the price dropped by 39% Y-O-Y.
As for MEG, from January to June 2020, the supply increased by 12% Y-O-Y while the price dropped by 18% Y-O-Y. From January to July 2020, the supply increased by 13% Y-O-Y while the price dropped by 19% Y-O-Y. From January to August 2020, the supply increased by 14% Y-O-Y while the price dropped by 18% Y-O-Y.
