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Galaxy Futures: Bottle and flake costs rising; downstream replenishment increasing

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The temporary Iran-Iraq peace agreement has ended. Iran has threatened to close the Strait of Hormuz. International oil prices continue to surge, and the cost focus for PX and PTA continues to strengthen. On the supply side, in the near term, Zhejiang Tiansheng’s 400,000-ton bottle flake unit has increased its operating load; Sichuan Hanjiang’s 600,000-ton bottle flake restart has resumed feed intake; and Shandong Fuhai’s 300,000-ton bottle flake unit has restarted as well. Bottle flake supply remains abundant. In the near term, as prices rise, downstream restocking has increased, and typhoon weather is approaching—keep an eye on regional logistics conditions. Looking ahead, another new 300,000-ton bottle flake unit from Fuhai Group is expected to begin production soon, and Nantong Kosen’s new 400,000-ton bottle flake unit is also expected to be put into operation; monitor the production ramp-up schedule of the new units. (Galaxy Futures)
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