heat in export market doesn't cool

Besides, heat in export market doesn't cool. Sep-Oct export order intake has reached 400kt. Though the figure retreats modestly in Nov, it also hit 300kt. That means Sep-Nov exports totals 1.1 million tons. Considering the unstable shipping schedule, we take Aug-Nov volume as a reference range, which is estimated at 1.4 million tons or so. Except for Sep-Oct delivered volume at 530kt, there is still 900kt materials to be delivered. From this point of view, about 1.6 million tons PET resin has basically been digested ahead of schedule in the first half of next year. As we know, China domestic contract demand is at about 200kt per month, if we take H1 2021 output of about 5.21 million tons as the base, and then take into account Wankai Chongqing Phase II 600kt output by proportion, it is of high probability that the actual sales volume accounts for more than 50 percent of the output from January to June 2022. Therefore, it is expected that the actual control of market prices by the PET bottle chip factories will be further strengthened in the first half of 2022.