PET bottle chip market may destock in Q1

PET bottle chip market may destock in Q1. After the new capacity coming on line, Mar output may ramp up to above 950kt, which means if excluding 300-400kt for export and 500-700kt for domestic sales, bottle chip factory's spot inventory is likely to be negative, and the intermediate circulation cannot be well guaranteed. So there is still a gap for traders and some downstream factories. This can be seen only by looking at whether or not traders still have concentrated replenishment from late February to March. Of course, this is also based on the current good performance of export sales. In the later stage, if export order intake is not sustainable, then after the concentrated delivery in the peak season, the PET bottle chip market will gradually face sales pressure in the second half of the year.