In November 2025, the overall price of polyester bottle chips showed a fluctuating and weak trend. According to data from Shengyi Society, the price fluctuated between 5600-5830 yuan/ton in November. At the beginning of the month, the price of polyester bottle chips was weak. On the 14th, driven by a significant rebound in crude oil, its average sales price rose to 5812 yuan/ton; Affected by factors such as cost and supply and demand, prices continued to weaken and fluctuate downwards from the 17th to the 21st, closing at 5710 yuan/ton on the 21st; After the 21st, the weak trend continued, with a price of 5690 yuan/ton on the 24th and factory quotes mostly concentrated between 5630-5810 yuan/ton on the 25th. The futures market also showed a fluctuating weak pattern.

Cost side fluctuations dominate short-term price swings: On the 14th, due to the end of the US government shutdown and additional production cuts by oil producing countries, crude oil prices rebounded significantly, driving up upstream raw material prices such as PTA and pushing up polyester bottle prices on the same day. However, the international crude oil prices fluctuated downward in the middle and late stages, dragging down the prices of raw materials such as PTA and ethylene glycol, and the transmission of costs was not smooth. Factories found it difficult to maintain high prices, directly lowering the prices of polyester bottle chips.
Loose supply intensifies price pressure: The industry’s operating rate has remained above 70% this month. Although some facilities have undergone maintenance or restarts, overall supply fluctuations are small and spot prices are abundant. And the 300000 ton new plant in Shandong is expected to discharge by the end of November, further increasing domestic supply. At the same time, factory inventory is likely to enter a seasonal accumulation channel, making it difficult for the supply side to support price increases.
Weak demand suppresses price increases: Currently in the off-season of demand and the Spring Festival stocking window period, downstream factories only maintain essential replenishment. In terms of terminals, the production of soft drinks from January to October decreased by 5.7% year-on-year, making it difficult to stimulate bottle consumption; Although export quotations have generally stabilized, there is no positive boost, which cannot offset the impact of weak domestic demand. Market trading is sluggish, making it difficult to drive price increases.
Overall, Shengyi Society believes that the polyester bottle chip market is expected to continue its volatile pattern in the short term, and price increases will face resistance. We need to focus on the trend of international crude oil prices, the supply of raw materials such as PX/PTA, and the actual recovery level of downstream orders.