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Plastics Daily Closing Summary

2026-01-23

Forecast: The raw material styrene market may continue to operate in a relatively strong manner, providing solid bottom support for PS at the cost side. Domestic PS operating rates slightly declined, while spot supply remained ample. Downstream demand followed up on just-needed basis, with medium and small downstream enterprises reducing their cargo receipts. It is expected that prices may partially rise in the short term.

Today, the price of the ABS market fluctuated in some ranges. Intraday, there were frequent positive news about styrene, and futures prices fluctuated upward. The bearish sentiment among ABS market participants has cooled slightly, with some holders tentatively raising their quotes. Downstream demand was mainly for rigid restocking, and transactions were lackluster. The mainstream price of domestic materials ranged from 8,500 to 10,150 yuan per ton, among which the prices of general injection molding grades in East China and South China were 8,550-9,100 yuan per ton and 8,600-8,950 yuan per ton respectively.

Forecast: The main raw material styrene operates at a high level, and cost-side support remains. Previously shut-down plants have resumed production, which may increase regional arrivals. The restocking rhythm of downstream factories is temporarily stable, and there is insufficient momentum for transaction volume expansion. It is expected that the ABS market may strengthen in the near term.

PET

Today, the market price of polyester bottle chips rose. The chemical sector was in a warm sentiment, with PTA and bottle chip futures surging strongly. Cost-side support was relatively firm, spot supply in the market was tight, downstream end-users adopted a cautious buying attitude, and market transactions were sluggish.

Forecast: The market trades on the strong expectation of improved mid-term PTA supply and demand, ignoring the weak reality of the off-season demand. Meanwhile, the overall bulk chemical market is strong. It is expected that the PTA market will rise, and the cost-side support for bottle chips will remain strong. The operating rate on the supply side may run at a low level in the short term, and spot supply in the market will be tight. Downstream end-users are temporarily in a wait-and-see mode, resulting in limited high-level transactions. It is expected that the price or market of polyester bottle chips may rise in the near term.

BOPET

Today, most BOPET market prices remained stable, with individual declines. The upward momentum of raw material PTA expanded, and the price of polyester chips rose, enhancing cost-side support. Downstream提货 enthusiasm was strong, enterprises faced tight delivery schedules, and most film prices remained stable. However, downstream acceptance of high prices for new orders was low, leading to price declines for individual types.

Forecast: Raw material PTA may adjust in a warm range, and polyester chips will rise slightly, further strengthening cost-side support. The market has a decent backlog of orders, but acceptance of high prices for new orders is low, resulting in weak-then-strong support for the market. Some production facilities are under maintenance, reducing supply. Market demand is generally moderate, and the overall supply-demand relationship has not improved significantly, with limited support from supply and demand fundamentals to prices. It is expected that the market may first decline and then rise in the near term.

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