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PET Bottle Chip Market Weekly (Dec 13-17, 2010) |
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2010-12-17
| Price |
| Nomination (Yuan/Mt) |
10-Oct |
10-Nov |
10-Dec |
Price Pressure |
| CSD chip |
11,500 |
13,700 |
12,900 |
|
| Hot-fill chip |
11,400 |
13,600 |
12,800 |
|
| Water bottle grade |
11,300 |
13,500 |
12,700 |
|
| Weekly Average(Yuan/Mt) |
Nov 29-Dec 3 |
Dec 6-10 |
Dec 13-17 |
Price Pressure |
| CSD, by cash, ex-works |
11,740 |
11,800 |
11,820 |
→ |
| Hot-fill, by cash, ex-works |
11,640 |
11,700 |
11,720 |
→ |
| Water, by cash, ex-works |
11,640 |
11,700 |
11,720 |
→ |
| PET, FOB CMP, $/mt |
1,454 |
1,458 |
1,464 |
→ |
| Market Roundup |
Backed by some large volumes closed last week as well as recovering feedstock, PET bottle chip price strengthened a little this week. But the market was still plain on a whole. In earlier week, a few plants sold moderate amount at 11500yuan/mt, after that prices returned to mainstream level. Through this week, trading level of water bottle chips maintained at 11700-11800yuan/mt by cash, ex-works. Most deals were small or medium volumes. Selling indication of some plants were higher on the back of ample orders and low production. In south China, prices were relatively high due to turnarounds of some plants.
In export market, quotations increased on rising feedstock. Transactions were moderate despite some improvement. Mainstream quotations were $1480-1500/mt, while talked level was $1460-1480/mt FOB. A few deals were closed lower at $1450/mt. Some buyers began to build stocks but transactions did not improve evidently as a whole. In Korea, as inventories have declined sharply, quotations were raised to $1470-1500/mt while talked or done level was $1450-1460/mt FOB. With Christmas around the clock, export market may remain quiet and prices will stay flat. |
| Industry News |
1. Hainan Shengzhiye has shut down its 250kt/yr bottle chip unit last weekend for maintenance which may last 25-30 days.
2. Far Eastern Shanghai Industry has restarted its 450kt/yr bottle chip unit on Dec 13, with some capacity expasion around 150kt/yr. |
| Forecast |
| Operating rates in PET bottle chip market stay low as a whole, inventories have declined. Dec feedstock contract will be settled soon and PET bottle chip may continue to fluctuate within current price range. |
| PET bottle chip plants |
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3-Dec |
10-Dec |
17-Dec |
Next Week |
| Operating rate |
59% |
57% |
60% |
→ |
| Inventory |
Relatively high |
Relatively high |
Moderate |
→ |
| PET Bottle Chip Cash Cost |
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| * Feedstock cost is based on the prices 25 days ago |
| Operating Rate of PET Bottle Chip Plants in China |
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source:CCFGroup.com
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