downstream demand is anticipated to face bigger downward pressure in medium run

In summary, downstream demand is anticipated to face bigger downward pressure in medium run. The coming rainy day and heat summer weather will drag down the operating rate of downstream plants, which will also challenge the high inventory of PFY later. Many new PET bottle chip plants will start operation, which is supposed to pose great pressure on PET bottle chip industry. The real test may only have begun in Jun on polyester industry and the pressure is anticipated to gradually aggravate in the next three months. The timing of decreasing polyester polymerization rate or the decrement of the polyester polymerization rate may hit market expectation.