China First Futures: Thailand Initiates Anti-Dumping Investigation on PET Bottle Flakes Exported to China, Bottle Flake Futures Price Oscillates and Declines

On March 10, 2026, Thailand’s Department of Foreign Trade under the Ministry of Commerce announced the initiation of anti-dumping investigations on polyester bottle flakes originating from China, in response to applications submitted by domestic Thai companies. The amount of bottle flakes exported from China to Thailand is not significant. From 2021 to 2025, Thailand’s share of China’s bottle flake exports remained below 1.5%, with the lowest year approaching 0.75%, having minimal impact on China’s polyester bottle flake exports. In 2025, China exported only 74,000 tons of bottle flakes to Thailand, accounting for less than 1.2% of total exports. Thailand’s total bottle flake capacity is 900,000 tons per year, with nearly 50% for export. Japan and the United States are its main export destinations, together accounting for over 80%. The limited volume of China’s bottle flake exports to Thailand means this anti-dumping investigation will have limited impact on China’s bottle flake exports. After short-term market sentiment digestion, bottle flake prices are expected to return to supply and demand fundamentals. Currently, major domestic bottle flake producers have announced force majeure and reduced long-term contract supplies, causing export prices to surge and inventories to drop to low levels. It is expected that the futures prices of bottle flakes will remain high, with attention to geopolitical developments, plant changes, and shipping cost fluctuations. (First Capital Futures)