[PBT Daily Review] Limited Fundamental Changes, PBT Market Narrowly Fluctuates

1 Today's Summary

① This week, PBT manufacturers' quotations remained basically stable.

This week, there are relatively few PBT plant maintenance activities.

③ The PBT production for this period is 23,600 tons, with a capacity utilization rate of 55.45%, maintaining stability compared to the previous period. This week's average domestic PBT gross profit is -624 yuan/ton, down 32 yuan/ton compared to the previous week. 。

2 Spot Overview

The mainstream price of medium-low viscosity PBT resin in the East China region today is between 7,350-7,650 yuan/ton, unchanged from the previous working day. Today, the PBT market underwent minor adjustments, the PTA market saw a downward shift, and the BDO market remained in a wait-and-see mode. At the beginning of the week, there was little change in the market fundamentals. ， PBT market Continuation of narrow-range adjustments ， According to Longzhong Information, the price of low-viscosity PBT pure resin in the East China market is 7,350-7,650 yuan/ton.

3 Production Dynamics

The PBT production facility has continued its previous maintenance during the week, and the domestic PBT supply remains stable. The PBT output for this period is 23,600 tons, with a capacity utilization rate of 55.45%, which remains stable compared to the previous period. This week's average domestic PBT gross profit is -660 yuan/ton, a decrease of 36 yuan/ton compared to the previous week. 。

Figure 2: Trend Chart of Domestic PBT Capacity Utilization Rate in 2025	Figure 3 2025 Domestic PBT Profit and Price Comparison Chart (CNY/Ton)
Data source: Longzhong Information	Data Source: Longzhong Information

4 Price Prediction

The PBT market is expected to experience weak fluctuations. On the raw material side, the terminal performance of PTA is poor, and the demand side lacks support. However, the supply and demand maintains a tight pattern, with the balance sheet continuously going into de-stocking, and raw material supply is tight, providing strong cost support. In the short term, the PTA spot market is expected to maintain a volatile pattern. Recently, BDO supply has decreased due to maintenance of some equipment, while downstream industry demand has also reduced, leading to ongoing supply and demand negotiations and contract order trading. Spot negotiations are relatively subdued, making market fluctuations difficult. The market sentiment is mainly cautious, and the focus of the PBT market may continue to fluctuate within a range. Therefore, Longzhong expects the price of low viscosity PBT resin in the East China market tomorrow to be between 7350-7650 yuan/ton.

5 Related product information

PTA Market: Today's PTA spot price is -23 to 4645. This week and next week, main port delivery of January is traded at a discount of 31-32, and discussions for transactions before the end of the month for main port delivery of January are at a discount of 30-32. There is a game between cost and demand, with absolute prices weakening during the day after demand. Downstream buying is sluggish, with just-in-time needs. The spot basis is narrowly strong, and overall trading is light. (Unit: yuan/ton)

BDO Market: As of the time of writing, the mainstream negotiation price for spot bulk water in East China is 7,300-7,500 RMB/ton, and for packaged products, it is 8,300-8,500 RMB/ton (delivered upon acceptance), remaining stable compared to the previous period. Today, the BDO market in East China is stabilizing within a narrow range. Some facilities are undergoing maintenance shutdowns, but this has limited impact on buying sentiment. Downstream demand is following just in time, and holders are operating cautiously, resulting in a stalemate in market trading focus.

6 Data Calendar

Table 2 Overview of Domestic PBT Data (Unit: tons, yuan/ton)