PET bottle chip industry fundamentals are strong

In fact, PET bottle chip industry fundamentals are strong, coupled with low factory inventory and tight spot supply, which forms a pattern that is easy to rise and difficult to drop. After the holiday, as raw materials cost hiked, PET market price naturally moves higher. According to CCFGroup statistics, China PET bottle chip export order intake exceeded 400kt in Jan 2022, up nearly 60% from a year earlier, flat from Sep 2021 high. So far, most plants begin to sell Q2 orders. Though the newly online unit is offering materials in Jan, its impact is limited, as its monthly output may not reach 900kt. PET resin export share is expected to reach above 45% in Jan