recycled hollow PSF: rebound after falling in the third quarter, difficult to relay in the fourth quarter

In the first ten days of July, the crude oil price fell, and the price of the original hollow fell due to its impact. The price difference between the original hollow and the regenerated hollow was narrowed, and the suppression of the regenerated hollow was strengthened. The increase in the quantity of bottles and chips at the cost end led to a decline in the price. Regenerative hollow lost its cost support. In addition, the low demand increased the inventory pressure of Regenerative hollow. Under multiple negative factors, the manufacturer of Regenerative hollow lowered its quotation, and the transaction focus fell. By the end of this month, due to the shutdown or production reduction of some manufacturers in the early stage, the inventory pressure has been relieved, so in the second half of the month when the cost side continues to decline, the manufacturers of renewable hollow have a strong intention of price fixing under low profit operation, and the market transaction focus is stable. This month, the price of regenerated hollow fell by 250 yuan/ton to 7200 yuan/ton, the lowest price in this quarter.



In the first half of August, the price of bottle tablets at the cost end was temporarily stable, mainly because the chemical fiber factory was in a general mood to purchase. By the end of this month, the starting load of the recycled hollow had risen, and some manufacturers had insufficient raw materials inventory, so they had to raise the price of materials received. In addition, the cleaning plant had low profits and a strong desire to be reluctant to sell, so the bottle tablets were delisted at a low price, the price rose, and the cost support for the recycled hollow was strengthened; On the demand side, downstream manufacturers of recycled hollow have insufficient confidence, and the demand for recycled hollow is weak due to the scarcity of foreign trade orders; On the relevant product side, the price of the original hollow has fluctuated this month and maintained a small price difference with that of the regenerated hollow, which has a significant suppression effect on the regenerated hollow; On the supply side, the start-up load of recycled hollow was low this month, mainly due to the impact of high temperature weather, which eased the inventory pressure of recycled hollow manufacturers. To sum up, Regenerative Hollow is still affected by the downturn on the demand side this month, and the shipping resistance is large, which curbs the price increase. However, the pressure on the cost side and the low inventory level make some manufacturers narrow the margin in the late part of this month. This month, the average price of renewable hollow market remained at 7200 yuan/ton, with little change.



At the beginning of September, the cost end chemical fiber plants started to rise, and the demand for raw materials increased. Some chemical fiber plants bought bottles at a higher price, and the cost support increased. However, as the production and sales of hollow fiber became weak, the price of bottles gradually became loose. By the end of the month, hollow fiber manufacturers had put downward pressure on recycled PET due to poor profits, and the cost support became weak, and the internal high price of recycled empty space fell back; On the demand side, at the beginning of the month, the start-up load of downstream manufacturers of renewable hollow increased, the demand for renewable hollow increased, and the production and sales of renewable hollow improved significantly. In addition, the increase in the price of original hollow boosted the efforts of de warehousing of renewable hollow. However, the production and sales of renewable hollow fell back after the downstream just needed replenishment; On the relevant product side, the price of the original hollow rose first and then fell due to the cost boost this month. The boost to the renewable hollow was weak from improving to narrowing the price difference with the renewable hollow by the end of the month, and the resistance to the shipment of the renewable hollow rose. To sum up, due to the impact of increased demand and rising costs, the price of Renewable Hollow rose at the beginning of the month. However, with the decline of production and sales and the loosening of costs, the price of Renewable Hollow showed a weak trend, and some manufacturers had more room for discussion.