Shouchuang Futures: Cost increases combined with logistics impacts lead to a significant rise in bottle chip futures prices

On the supply side, during the Spring Festival, polyester bottle chip factories experienced a slight accumulation of inventory, with the overall average inventory at domestic polyester bottle chip factories slightly above 16 days, and the operating rate of polyester bottle chip factories has rebounded. On the demand side, domestic terminal operations are gradually recovering. In 2025, China’s exports of polyester bottle chips to Iran will be only 2k tons. However, in 2025, China’s exports of polyester bottle chips to the Middle East region will reach 1.3 million tons, accounting for 20.2% of total exports, with most countries and regions having a high connection to the Persian Gulf. Due to geopolitical factors, freight costs for bottle chip exports have risen significantly. In summary, the sharp increase in crude oil prices supports costs strongly, and geopolitical factors have led to a rise in freight costs for bottle chip exports. It is expected that in the short term, bottle chip futures prices will fluctuate with costs, paying attention to geopolitical developments and changes in shipping costs. (First Capital Futures)