PET bottle chip factories

From the current statistics, the inventory of most of the PET bottle chip factories is not high, and averages at about 11days. According to the situation of several major mainstream producers in East China, after intensively replenishment last week, except for new materials or individual bottle chip factories, most Feb-Mar export orders have been sold out, and it is suggested that the delivery of new orders should be postponed to March and afterwards. China domestic traders may replenish goods at the end of February or March. Due to the upstream raw material cost is not high at the previous stage, bottle chip factories ‘demand for raw materials is large, some factories continue to purchase. Spot processing spread has maintained at above 1,000yuan/mt, and there are many overtaken orders. On the eve of the Spring Festival, with the rise in the upstream feedstock price, PET bottle chip factories offered higher slightly and inventory declined sharply. Therefore, with the approach of the Spring Festival, except for the profit-taking of some traders (around 6700-6800yuan/mt in the previous stage) or the low-price promotion of individual factories before the Spring Festival, the overall low price is rare, and the downstream counter-offer level is also gradually approaching the factory offer