Polyester Bottle Flakes in January Show Initial Weakness, Then Strengthen, Climbing to a Peak at Month’s End Before Reversing

January 30th, News

In January 2026, the price of polyester chip showed a trend of first weakening then strengthening, with a surge in the latter part of the month followed by a decline. Futures and spot prices fluctuated in tandem. Demand was supported by rigid demand but was suppressed by the off-season, which inhibited price increases. As of January 29, the main futures contract closed at 6,326 CNY/ton, and according to price data, the average spot price in East China was 3,275 CNY/ton.

Price trend

January 1–9: Initially subdued, then rebounding slightly; spot prices in East China ranged from 5,980 to 6,130 yuan, while futures prices were around 5,950 to 6,060 yuan.

January 10–16: Prices initially rose and then fell; spot prices in East China ranged from 6,000 to 6,100, while futures prices fell to 5,968 during the week.

January 17-23: Strong rally; East China spot prices 6,340-6,400, main futures contract closed at 6,448 (up 8.0% for the week).

January 24-29: Prices surged and then fell back; the main futures contract retraced from 6,448 to 6,326, while spot prices remained stable between 6,300 and 6,380.

Core Driver Analysis

Supply side: There is a concentration of plant maintenance (such as the 1.2 million tons plant in Jiangyin shutting down from mid-January to March), and by late January, the capacity utilization rate dropped to 70.24%, leading to a decrease in production. Low inventory and low operating rates support prices.

Cost side: With crude oil and PTA price fluctuations transmitting through the chain, polymer costs are around 5,592 CNY/ton, and cost support is significant.

On the demand side: Inventory replenishment was completed before the Spring Festival, and downstream sectors such as beverage and oil mills—driven by essential demand—provided solid support. However, operating rates remain relatively low, and there is limited willingness to chase price increases.

Future Market Outlook

It is expected that post-holiday demand will fail to rebound as strongly as anticipated; plant maintenance will conclude earlier than scheduled; crude oil and PTA prices will experience a pullback; and recycled PET will gain further traction as a substitute. In the short term, prices are likely to fluctuate within the range of 6,200 to 6,400 CNY per ton. Costs and supply remain the primary supports, while weak seasonal demand will continue to cap price increases.