For PET bottle chip South Korea India and Southeast Asia markets generally revised down export price in Apr

For PET bottle chip, South Korea, India and Southeast Asia markets generally revised down export price in Apr, while China PET resin price was at high rates, hence the enlarging China-overseas spread led to poor order intakes. Afterward, as China materials retreated to low rates, export sales recovered somewhat. PFY and PSF exports didn't recover much in May, hence seems not entirely price to blame.

Calculating from the proportion rate of Jan-May 2018 net exports growth/2018 net exports growth, polyester products net exports expansion may reach 700kt in 2019.

In Jun, PFY stock level appears a bit low in Jun due to good sales, hence export price is relatively not so cheap, and export volume won’t be large this month. But considering new capacity launch in H2 2019 and domestic demand sustainability, export sales might rally modestly. PET bottle chip is the star product among all polyester products, but restart and launch of overseas plants will intensify the market competition.