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Shouchuang Futures: Export prices increased, and bottle chip futures once hit the daily limit-up.
On the supply side, after the holiday, operations at bottle-flake factories are continuing to increase. The 750k-ton unit of Sanfangxiang is planned to restart in the vicinity of mid-March, while another 250k-ton unit will be shut down for maintenance in late February. The 1.2-million-ton PET bottle-flake facility of China Resources Jiangyin has been shut down for maintenance since mid-January and restarted in early March.
On the demand side, domestic end-market operations are gradually recovering, and spot transactions have shown some rebound.
In short, polyester feedstock prices have been rising continuously, and bottle-flake prices have been supported. In addition, freight rates for ocean shipping have surged: export quotations for bottle flakes have been raised significantly, and some factories have chosen to hold onto supply rather than sell. It is expected that, in the short term, bottle-flake futures prices will remain biased toward strength following costs. Keep an eye on geopolitical developments and changes in ocean freight rates. (Chuangchuang Futures)