many overseas bottle chip plants have cut production and shut for mainteance at present

In terms of exports, many overseas bottle chip plants have cut production and shut for mainteance at present, especially in the European Union. At the same time, the procurement demand has also weakened in winter. Taking into account the shipment schedule and delivered price and other reasons, many overseas European customers temporarily purchase from neighboring countries or duty-free regions. The price advantage of Chinese goods to the local area in recent months is not strong, and recently most traders purchased 2023 contract. Therefore, in the short term, the support of export side of China's PET bottle chips for the domestic RMB spot is also weakening. It is highly probable that the social inventory of bottle chips will gradually accumulate before the end of the year.