HC re-PSF inventory in most plants is relatively low

Firstly, frequent shuts under power rationing. Since May, 2021, plants begin to face power rationing, especially plants in Guangdong market. In Sep, the dual control policy is seen, and many plants are shut frequently, and the situation may last till end year. Moreover, the notices from the government are mainly provisional, and plants are hard to arrange the production plan in advance. Some plants with electric generators face higher costs.