May BOPET Price Slips amid Soft Demand
This month, the BOPET price fell from highs. The average market price of 12μ BOPET was RMB 10,829/mt, down RMB 474mt or 4.19% from last month but up RMB 1,764/mt or 19.46% from last year.
In May, BOPET market prices continued to go downwards. This month, the crude oil prices fluctuated widely, and prices in the feedstock markets were mixed. The support from the cost side was average. There was no significant improvement in downstream demand. Users mainly purchased feedstock on a need-to basis to cover the rigid demand. By the end of May, the negotiation space for BOPET dealing prices widened, and offers from producers fell from highs. The production of some production lines was not stable in the month, so the supply reduced somewhat, which underpinned the low-end prices effectively.
According to SCI, as of late May, the offers for 12μ general-purpose BOPET in East China were about RMB 10,510-11,310/mt, and the negotiation price was about RMB 10,410-10,610/mt, down RMB 500/mt from last month but up RMB 1,300/mt from last year. The monthly average price was about RMB 10,829/mt, down RMB 474/mt or 4.19% from last month but up RMB 1,764/mt or 19.46% from last year.
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