export price of PET bottle chip in China has risen

According to CCFGroup statistics, since the end of August, export price of PET bottle chip in China has risen more than $240/mt, with an increase of about 1700-1750yuan/mt, while the domestic RMB price has risen by 1400yuan/mt during the same period. As of October 20, 2021, according to CCFGroup price index, the RMB processing spread of water bottle chip is 1365yuan/mt, while the processing spread for export materials has risen to around $257/mt, which is about 1645yuan/mt. Therefore, under the same calculation mode of raw material cost, the profit from exports has far exceeded that of domestic sales. Therefore, domestic producers mainly hold price firm, and export quote will be revised up once there are some trading done. Spread between RMB and USD value keeps enlarging. It is heard that one bottle chip factory received more than 80,000 tons of orders in the first half of Oct alone, and the plant recently considers to suspend order intake.