As PET bottle chip production facilities gradually restarted around the National Day holiday, market supply has significantly rebounded

As PET bottle chip production facilities gradually restarted around the National Day holiday, market supply has significantly rebounded. According to CCFGroup statistics, the commissioning of two 750,000-ton plants by Sanfame and a 500,000-ton facility by Yizheng has been postponed until the end of this year or early next year, which means that there will be no new facilities coming online before December. However, since late September, the PET bottle chip industry has been recovering production, including a 500,000-ton restart at Yisheng Hainan, a 2 million-ton short halt at Sanfame, an increase in O/R at Wankai Zhejiang and 300,000 tons in Chongqing, along with restart of 550,000 tons at Far Eastern Shanghai and 350,000 tons at Billion. This has raised the average domestic PET bottle chip facility utilization rate from around 74-75% to nearly 89-90%, with further increases expected later. Overall estimates suggest that the monthly production of PET bottle chip in October is expected to soar to around 1.49-1.50 million tons, setting a new monthly production record, which represents a year-on-year growth of about 35%. Currently, there are only about 1.1 million tons of new maintenance plans announced for the fourth quarter by China Resources.