BOPET Price Expected to Move Downward amid Supply Increase
BOPET prices stayed at a relatively high level after the National Day holiday, underpinned by the orders. From H2 October to November, BOPET plants gradually lifted the operating rate, and newly added capacity was put into sue successively, so the supply increased. However, there was no improvement in demand. BOPET prices are expected to move downwards in the coming period.
BOPET price was stable-to-dropping
In October, BOPET market prices stabilized after increases. In November, the supply tightness was alleviated amid the supply increases, so the market price softened a little. In East China, prices of general-purpose 12μ BOPET dropped from RMB 11,810-12,210/mt to RMB 11,710-12,010/mt. And the market transactions were thin.
By November 12, offers of 12μ BOPET in East China were in the range of RMB 12,010-12,510/mt, and the negotiation prices were in the range of RMB 11,710-12,010/mt, unchanged from the previous trading day, down RMB 100/mt from last month and down RMB 1,150/mt from last year. Offers for 20μ and above thick film were about RMB 11,000-11,500/mt. The negotiation price of 6μ BOPET in North China was around RMB 18,800-19,000/mt. The offer for substrate, which is used for release film and protective film, was around RMB 13,000-13,500/mt. Offers for hot stamping film were about RMB 12,300-12,400/mt.
Spot supply tightness eased with operating rate picking up slowly
In H1 October, more enterprises lowered the operating rate, dragging down the industry operating rate to the annual low of 63.40%. From H2 October to November, most enterprises resumed production, lifting the industry operating rate to 77.06%.
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