China regained cost advantage and export sales increased substantially

PET bottle chip export order intake totaled 320kt in May, and trading focused on the second half month. Jun export order intake is assessed at 250-300kt. Late May-H1 Jun, overseas competitors in South Korea, India and Southeast Asia reacted slowly toward the export price, while China export value closely followed feedstock trend, hence Sino-foreign price spread enlarged rapidly. China regained cost advantage and export sales increased substantially.

China exports to major destinations was steady, largely marking y-o-y growth. Details refer to below figure.