The reasons for the decline in both price and profit of PET bottle chips are mainly due to three points

The reasons for the decline in both price and profit of PET bottle chips are mainly due to three points. First, the price of upstream raw materials has been weak for a long time, and there is little support for the RMB price of bottle chips. Second, most of the downstream large customers have finished purchasing in the fourth quarter and begin to negotiate the 2023 contract. Orders of small and medium-sized end-users are mediocre, and most of them are not willing to continue to replenish as the inventory purchased in the previous stage remains. Third, some traders offer lower to execute contracts.