Raw Material and Price Trends

On January 23, 2026, international crude oil prices rose amid market fluctuations. March WTI futures closed up $1.71, or 2.88%, at $61.07 per barrel, while March Brent futures gained $1.82, or 2.84%, to $65.88 per barrel. The price increase was mainly supported by renewed geopolitical concerns in the Middle East, tight global supply, rising demand in certain regions, and recent weather-related factors. In the short term, the market will continue to monitor supply-demand dynamics and inventory data, with oil prices expected to remain firm and fluctuate within a narrow range.

Since late December 2025, upstream raw material prices have steadily risen, pushing polyester production costs higher.

• CFR China PX: USD 923/ton, up USD 16
• PTA (domestic): CNY 5285/ton, up CNY 130
• MEG (domestic): CNY 3798/ton, up CNY 138

Upstream raw material prices have remained elevated, pushing up the production costs of PET resin. At the beginning of this year, both domestic and export PET prices were generally at high levels, particularly for high intrinsic viscosity PET, with some producers quoting prices close to or exceeding last year's peaks. This has not only lifted domestic market prices but also influenced export quotations and international competitiveness.

Tight Supply Supports the Market

Ahead of the Lunar New Year, PET resin demand remains active, partly for post-holiday production line start-ups and partly for inventory replenishment. Tight upstream raw material availability limits PET supply, providing price support. Preliminary statistics show that PET plant maintenance in January–February is estimated at approximately 9.54 million tons and 5.76 million tons, totaling around 15.3 million tons; an additional 200,000-ton unit is scheduled for maintenance in March. These shutdowns tighten short-term supply, provide a buffer for the digestion of high-cost inventory, and support both PET and filament prices.

Impact on Export Markets

PET  exports remain active, mainly targeting Southeast Asia, the Middle East, and parts of Europe. Rising raw material costs and high domestic inventory pressure have pushed export prices higher. The purchasing schedules of international buyers are also affected by domestic supply tightness, creating short-term upward pressure on prices.

Price Volatility and Customer Procurement Strategies

• Small-batch procurement: Under high-cost conditions, customers may opt for small, staggered purchases to ensure production line operations without tying up excessive capital.
• Monitor post-holiday price trends: If raw materials continue to rise after the holiday, PET inventory gains value but procurement should remain cautious; if raw materials fall, high-cost inventory may depreciate, requiring flexible adjustment of purchasing schedules.
• Align inventory with production: Plan procurement volumes and timing based on production schedules and current inventory to reduce the risk of holding high-cost stocks.

Source: China Chemical Fiber Information Network (CCF)