23 Jan 2026 SPVC k67-68 SPVC (A) k67-68
Unlike the earlier grade-led split, this week’s bifurcation was driven by stronger overseas sales, even as local demand stayed muted ahead of the extended Lunar New Year holiday.
23 Jan 2026
China’s PET bottle market vaulted to a one-year high in the week ending 23 January 2026, propelled by a sharp rebound in upstream PTA and MEG futures that triggered immediate repricing across the physical market.
In the physical market, local sellers reacted swiftly to the futures breakout, largely lifting spot offers in an attempt to capture the upward momentum.
Despite intermittent volatility, the Asian propylene market has resumed a clear upward trajectory after tumbling to pandemic-era lows in early November 2025.
22 Jan 2026
Both products were fully sold, pointing to a tentative improvement in near-term confidence. Market participants, however, remained wary over the durability of the rebound.
Shandong Yulong’s latest auction delivered a clear improvement in uptake, with homo-PP yarn and LLDPE film on an FD basis fully cleared.
In immediate response to the futures-led recovery, the majority of local producers adjusted their spot offers higher, seeking to recoup losses from earlier in the week.
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