HC re-PSF sales were smooth in Vietnam.

Vietnam started to exert force in 2018. Following the solid waste ban, domestic plants moved to foreign countries gradually. Vietnam has gathered solid re-PSF and a few HC virgin PSF plants. Imports in 2018 soared to 13,113 tons and reached 30,567 tons in 2021. It was mainly attributed to the demand recovery, larger price spread between virgin PSF and recycled PSF and the speculative demand around the Lunar New Year. In 2020, a few new plants engaged solid re-PSF put into operation, with a capacity of 50 tons per day, and the products are mainly delivered to China, so the monthly imports from Vietnam are higher year on year. In Sep 2021, imports were 729 tons, and in Oct, imports were only 459 tons, the lowest in recent two years. It was mainly because that Vietnam started the most strict lock-down measures with the outbreak of pandemic in May, 2021. Later, with the epidemic control and relaxation of power rationing, imports climbed up largely to nearly 2,000 tons in Nov-Dec, 2021. In addition, affected by surging sea freight, China-origin cheap fibers were hard to sell to Vietnam, and HC re-PSF sales were smooth in Vietnam