3A-grade white bottle bales and flakes price analysis in Jan-Apr

Since the beginning of 2024, re-PET feedstock price trend shows different changed compared to previous years. Viewed from the price trend in 2021-2023, prices of PET flakes and bottle bales basically experienced a round of rise after plants returning from the Spring Festival holiday, and prices maintained till early May before temperature rose. After supply increased apparently, downward trend appeared. However, after the Spring Festival holiday in 2024, PET flakes prices went firm for a short time, but turned downside in early Mar, 2 months earlier than previous years.

Prices of 3A-grade white flakes and bottle bales have declined to the level around mid-to-late Dec of 2023, and high-end and eco-friendly re-PET chip prices slipped to the level around Jan. But as re-PET prices continued to rise since the second half year of 2023, the price level was relatively high this year, so the average prices in the first four months of 2024 were obviously higher than the same period of 2023.

In recent two weeks, lower prices of bottle bales and PET flakes in some regions rose by 100-200yuan/mt, and in general, the market supply remained tight, especially affected by the rainy weather in South China, the feedstock supply and recycling was obviously impacted. In short, PET flakes and bottle bales prices may continue to move sideways at current level. The supply may increase apparently after Dragon Boat Festival holiday (in early Jun). But under current price level, it is hard to say the downward space or whether the prices will keep down.