Today, the price of polyester bottle chips has significantly increased in China (4.28)

April 28 news

I. Today's Price (2026-04-28)

• Futures (Bottle Chip Main Contract PR): Closed at 8,706 CNY/ton, +570 yuan (+6.80%); intraday range 8,430–8,948 CNY/ton, with a significant increase in volume and price.

• Spot (East China bottle grade): mainstream 9,200–9,350 CNY/ton.

II. Factors Driving the Increase

Cost side: PTA prices surged strongly, and bottle chip prices followed suit passively.

1. Crude oil and PX prices remain high in China.

◦ Geopolitical tensions in the Middle East and disruptions in the Strait of Hormuz have kept Brent crude oil prices persistently high at $110–$120 per barrel, driving PX prices to remain firm as well.

◦High PX prices → PTA costs are rigid, and PTA itself already has a strong basis for maintaining its price.

2. PTA’s epic maintenance + force majeure (today’s immediate trigger)

Yisheng, Hengli, and other leading companies are conducting concentrated maintenance/reductions: multiple lines of Yisheng in Dalian, Ningbo, and Hainan have been shut down, and Hengli's Dalian line is under maintenance, affecting approximately 20% of China's PTA capacity.

◦In April, PTA production in China decreased by 300,000 to 400,000 tons year-on-year, leading to a tighter spot market. PTA prices have been continuously rising this week and surged again today.

◦ PTA accounts for over 70% of the cost of bottle flakes. Whenever PTA prices rise, the factory price of bottle flakes must increase accordingly. Today, cost-driven price increases are at least 200–300 CNY per ton.

Supply side: The spot market for bottle flakes itself is “truly tight”—there’s simply no supply available for sale.

1. Low operating rates + major plant maintenance/force majeure

◦ The overall operating rate for bottle flakes is around 71%, with weekly production at only 331,000 tons, which is lower year-on-year.

Several major factories in China have experienced force majeure/temporary maintenance, resulting in even less available spot supply. Traders have no inventory and are reluctant to sell.

2. Social inventory is at a low level, with virtually no buffer.

After continuous destocking from March to April, the spot inventories in East China and South China are at their lowest levels in the past three years. Once there is a concentrated restocking, it will immediately trigger a "scramble" for goods.

3. Manufacturers in China are maintaining a firm stance on prices.

◦After profit recovery, large factories in China do not lower prices or dump inventory, offering a fixed price. When spot supply is tight, prices can jump by 200-300 directly, as was typical this afternoon.

Demand side: Pre-International Labor Day, there’s a concentrated stock-up period, and essential demand is being released in a concentrated manner.

1. Peak beverage season + pre-holiday restocking overlapping

◦At the end of April → May, it is the traditional peak season for beverages, during which terminals (beverage factories, packaging material factories) in China concentrate on replenishing inventory, placing orders, and making purchases.

◦Before the May Day holiday, today is the last day for concentrated restocking, with a surge in urgent demand, inquiries, and transactions.

2. Exports continue to improve, diverting Chinese cargo sources

◦In March, bottle flake exports reached 582,500 tons, an increase of 35% month-on-month. Some supplies were shipped directly overseas, further reducing domestic circulation in China.

III. Technical Analysis

According to the commodity market analysis system, the future trend of PET can be analyzed from two dimensions:

When the 10-day moving average is above the 20-day moving average, the probability of an increase is higher. Conversely, the probability is lower. The chart shows that starting from April 22, the 10-day moving average crossed above the 20-day moving average, and subsequently, PET began to rise.

2. Current location

Now, the 10-day, 20-day, and 30-day positions of PET in China are all at high levels, and the sum of the scores for the 10-day, 20-day, and 30-day cycle positions is less than 9 points. This indicates that PET is currently at a high level within its range in China; although it is trending upwards, there is also risk involved.

IV. Price Forecast

Short-term range (next 1–3 days)

◦ Spot: 9150–9400

◦ Futures: 8850–9100

◦ Key resistance: the 9,400 mark; further upward movement will depend on end-user acceptance.