Core Market Data Analysis
The ongoing price correction is driven by a double downward pressure from upstream raw material relief and temporary shipping delays:
- PTA Spot Price Drop: Driven by the easing of Middle East conflicts, Purified Terephthalic Acid (PTA) fell another -$27/tonne, settling down to $753-793/tonne CFR China Main Ports.
- Crashing FOB China PET Price: PET bottle grade prices in China plunged by an additional -$40/tonne, crashing to $970-1030/tonne FOB China, with weekend spot offers slipping as low as $970/tonne.
- Regional Market Slides: Other critical exporting regions followed the decline. FOB South Korea dropped heavily to $1160-1250/tonne (down -$90), FOB Southeast Asia fell to $1050-1180/tonne, and FOB Taiwan slipped to $1240-1340/tonne.
- Supply & Capacity Outlook: While some small-to-medium buyers are adopting a wait-and-see stance, regular big clients maintain steady volume. Furthermore, brand-new PET resin production capacities are scheduled to start up in China this July.
Shipping and Sourcing Strategy
Many exporters report that high ocean freight rates since May have temporarily delayed container shipments, creating an artificial dip in apparent export demand. However, container export performance is highly expected to recover smoothly as shipping lines gradually increase capacity later in July. Market experts suggest this round of severe price falls may be an overcorrection, presenting a rare cost-saving window before the summer seasonal demand peak fully rebounds.
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