This week (2026.2.2-2.6) polyester bottle chips first plummeted then stabilized in China

February 6th, according to news,

This week (2026.2.2-2.6), the price of polyester bottle chips in China first plummeted and then stabilized, with futures leading the decline and spot prices showing more resilience; costs fell, supply slightly increased, and demand was driven by essential needs, leading to a short-term weak fluctuation. As of February 6, according to price data, the average spot price in East China was 6,285 CNY/ton.

Cost side: Brent crude oil fluctuated weakly in the range of $2.2–$2.6, averaging around $80–$82 per barrel for the week, providing insufficient cost support for polyester raw materials. The prices of PTA and ethylene glycol, the key raw materials, have weakened.

Supply side: Weekly production is 303,000 tons (+0.38), capacity utilization rate is 65.4% (+0.8%). Spot circulation is tight, with factories holding firm on prices and holders reluctant to sell, providing support to prices.

On the demand side: As the Spring Festival approaches, downstream users are primarily replenishing their inventories to meet essential needs. Soft drink production is operating at 65-75%, oil mills at 58%, and PET sheet production at 55%, with trading activity remaining light.

Market sentiment: Capital is seeking safe havens, leading to high volatility in futures; the spot market, due to tight supply, sees a smaller price decrease compared to futures, resulting in a stronger basis.

The maximum price decrease for futures within the week exceeded 4%, while the spot market was relatively resilient, reflecting a "weak futures, strong spot" structure. In the short term, it is expected to fluctuate within the range of 6050-6300, with a bearish bias in futures and the spot market supported by circulation. The focus will be on crude oil, raw materials, and the conclusion of pre-holiday inventory stocking. In the medium to long term, it is believed that the peak demand season may drive prices up, and attention should be paid to the pace of resumption of work after the holiday and the rhythm of inventory depletion.