China PET bottle chip exports see improvement in May but concerns still exist

According to the Customs, China PET chip export volume totals 385kt in Mar 2020, y-o-y falling 4.9%, including 48kt for HS code 39076910, y-o-y down 10.6%, and 337kt for HS code 39076110, y-o-y falling 4%. Calculating HS code 39076110 alone, PET bottle chip exports totaled 667kt in Jan-Mar, y-o-y slipping 22.9%. If combines HS code 39076110 and 39076910, PET resin exports totaled 720kt in Q1, y-o-y down 23%. Mar demand has enhanced in drastic, as exports in single month has surpassed Jan-Feb total.

Mar exports hike is mainly due to delay of Feb orders, including some orders that delayed delivery to Apr. Hence, Mar export volume exceeding 300kt is no strange. So far so speaking, Apr export delivery volume may decline obviously comparing with Mar, possibly to slightly higher than 200kt.