The Overall Performance in The First Three Quarters Has Been Commendable

On the demand side, the overall performance in the first three quarters has been commendable. Preliminary statistics indicate that domestic bottle chip demand in the first three quarters of this year was around 6.88 million tons, with a year-on-year growth of over 15%. Notably, the consumption of PET in the beverage sector has rapidly increased by nearly 30%. This is partly due to many beverage companies launching new projects in the past two years, as well as a significant growth in demand for essential materials. However, intensifying market competition has led to declining profit margins for some enterprises, and the price war has widened the gap in market share among different players. In terms of exports, export order intake in Q1-Q3 shows that the contribution to industry demand has surpassed domestic sales, with total orders from January to September reaching 4.29 million tons, an increase of 1.20 million tons or 38% compared to the same period in 2023. Shipments have also seen a year-on-year increase of around 30%. Consequently, against the backdrop of substantially increased sales volume and reduced supply, PET total inventory successfully shrank to around 1.5 million tons by the end of September, down nearly 200,000 tons compared to the end of last year.