Go Up And Go Up! PET Rose by More Than 80%! With Many Favorable Promotions, Pure Benzene has Broken Through 10,000!

As the energy shortage intensifies, as a plasticizing raw material downstream of the energy chemical industry, a "price surge" has begun!

Recently, PET has seen the most significant increase in the past year! From the original 5435 CNY/ton to the current 9870 CNY/ton! In just one year, it has soared by 4435 CNY/ton, an increase of more than 80%! And the recent increase is even more outrageous! 90 degrees straight up! It can be described as "Cow God"!

Many bosses even said that PET is expected to rise to 10,000 CNY/ton! This PET surge is naturally inseparable from the strong assists of PX and PTA! Under the one-pass operation of the manufacturer to reduce the burden and stop production! The whole market was naturally fired up!

But it is worth mentioning that many bosses did not buy the PET price increase this time! Because throughout the entire polyester industry chain from PX→PTA/ethylene glycol/olefin→PET is in a state of serious loss!

In addition, under the promotion of various favorable factors, pure benzene has also successfully exceeded 10,000! On June 8, the closing price of benzene in East China rose to 10,215 CNY/ton, hitting the highest level in the East China market since March 11, 2013. After closing on the 9th, the closing price pushed up again, sitting firmly above 10,000 yuan!

The peak season of summer travel oil in the United States has just begun and is expected to last until September. During this period, the US dollar price of the entire aromatics product will continue to form a positive support. After entering into June, the maintenance season of pure benzene plant has ended, and the supply has recovered. However, the increase in commercial inventory to ships in East China ports is limited, and the cost of domestic cargoes is deeply related to the US dollar, so the price-raising behavior in East China may continue in the short term.

On June 9, the spot price of styrene in East China was quoted at RMB 11,375.00/ton, a premium of RMB 144.00/ton compared to the main futures price (RMB 11,231.00/ton).