PET flake suppliers are tight sellers

This round of rise is mainly promoted by the supply side and cost side, while the demand is ordinary. On the one hand, the supply reduces sharply affected by the dual control policy. During the National Day holiday, most HC re-PSF plants in Cixi received the provisional notice to be shut for 7 days. To achieve the goal of controlling energy consumption and intensity, plants in many regions are expected to cut production in the fourth quarter of this year. Currently, the policy on plants is uncertain. It is heard that plants in Jiangsu, like Taicang, Changshu and Wujiang, mostly receive provisional notices currently. In addition, air pollution regulation will come in winter in Hebei and Shandong. On the other hand, crude oil prices surge. WTI futures were at $75/bbl before the holiday, and now, at around $79/bbl. PET fiber chip offers continue to rise, and PET flake suppliers are tight sellers. In the meantime, the dialogue between China and the United States and lower sea freight is also supportive the market.