In the middle of this month, the price of polyester chips in East China still has room to fall

In late March, the price of polyester chips in the East China market continued to fall under pressure from a large number of pressure discs. From March 21 to March 30, the market price of polyester chips is 8900-9000 yuan (ton price, the same below), and the price center of gravity continues to move downwards.
Main characteristics of the market: First, the volume of polyester chips has been significantly reduced compared with the previous period, and the social inventory has increased rapidly, which has brought some pressure on the market outlook. Second, the seller’s power is obviously greater than the real one, and the pressure on the selling pressure continues to weigh. Moving downwards, the third is that the operating rate of downstream products has been drastically reduced, and the phased supply exceeds demand in the market. Fourth, in the case of small polyester chip production plants, the operating rate has decreased significantly.
The recent fluctuations in international crude oil prices, coupled with the fall in prices of downstream products, are expected to remain in the price of polyester chips in mid-April.