Market Overview
The Asia PET market turned stable to firm during the week ending April 17, driven by stronger feedstock costs and tightening supply conditions.
Feedstock shortages have significantly impacted production, with China PET operating rates falling below 80%.
At the same time, downstream demand remains healthy due to seasonal manufacturing activity.
Supply Situation
- China operating rates below 80%
- Regional producers reducing output
- April–May cargoes largely sold out
- Inventory levels remain low
This indicates a clear tightening of supply across the market.
Price Analysis
Bottle Grade PET (FOB)
- China: USD 1,150–1,230/tonne
- Taiwan: USD 1,450–1,515/tonne
- Southeast Asia: USD 1,290–1,550/tonne
- India: USD 1,330–1,500/tonne
Fibre & Film Grade
- Fibre: Stable
- Film: Slight increase due to tight supply (see page 4)
Upstream Market
- PTA prices slightly declined
- MEG prices increased significantly (+130 USD/tonne)
This divergence continues to support PET pricing.
Production & Inventory (China)
According to production data (pages 5–6):
- Operating rate: ~75.9%
- Inventory: 8–12 days
- Sales-to-output ratio improved
Charts (pages 7–9) show:
- Stable but relatively low operating rates
- Gradual inventory increase but still within manageable levels
Market Outlook
- Supply shortage expected to persist
- Feedstock costs will continue to drive prices
- Demand likely to remain firm ahead of summer peak
Conclusion
The PET market is currently characterized by:
- Tight supply conditions
- Strong seasonal demand
- Rising cost pressure
Short-term outlook remains firm to bullish, depending on feedstock developments.
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