Polyester Industry Is Hard Pressed At Both Ends.

This year, the domestic polyester industry is facing a more severe test.

On the one hand, international crude oil prices continue to hit a new high. By April 22nd, the New York Mercantile Exchange delivered light crude oil futures in May, closing at $119.37 a barrel, a record high.

On the other hand, because the macro environment at home and abroad is not conducive to the demand of terminal Enterprises -- the survival of textile and garment enterprises, the current US dollar exchange rate has broken 7, and domestic monetary policy has been tight. Many textile and garment enterprises also have difficulty in obtaining loans and tight funds.

Under this situation, the domestic polyester chemical fiber industry is struggling.

Resource prices continue to climb high cost pressures

At present, it has entered the era of high oil prices. The rising oil price is a foregone conclusion. The cost of chemical fiber enterprises is increasing. However, the prices of downstream products are hard to keep pace with the rising of raw materials, resulting in the difficulty in pferring polyester products to cost pressures, and the profit margins of chemical fiber enterprises are getting smaller and smaller.

The official of the US energy and Intelligence Agency recently revised the expectations of the international oil price which was earlier than $100 over a period of time.

Goldman Sachs commodity analysts predicted in early April that the price of crude oil could exceed $115 a barrel in the second half of this year.

As of April 22nd, the international crude oil futures May WTI closed for 3 consecutive days, breaking through 115 US dollars / barrel, the highest hitting almost 120 US dollars per barrel.

Since March, the high level of international crude oil has been maintained for over 100 US dollars / barrel for a long time, which has directly led to the continuous high operation of synthetic fiber raw materials prices this year, and there is a great pressure to continue rising.

The average price of oil in the first quarter was close to 100 yuan, up 68.2% from the same period last year. The production cost of PX, PTA and other chemical products is relatively high.

Although the growth rate of fixed assets investment in China's chemical fiber industry has been controlled in 2007, the new capacity has still had a great impact on the market operation this year, and the pressure of some chemical fiber varieties with excess capacity is still relatively large, so that the balance between supply and demand of the market is affected.

Coupled with rising coal prices and other factors, the cost of polyester industry continues to rise. In 1-2, domestic chemical fiber industry profits fell 0.2% year-on-year.

The most difficult year for downstream textile enterprises

Affected by the continued decline in the US dollar, the US dollar to the central parity of RMB fell below the 7 pass in April 10th, at 6.9920, creating a new high since the RMB exchange rate reform.

According to the exchange rate of 8.11 yuan at the beginning of the "exchange reform", the RMB has appreciated 15.6% against the US dollar.

The continued appreciation of the renminbi has made China's textile exports which are originally dependent on cheap advantage profits face great difficulties. On the one hand, export orders have been greatly reduced. On the other hand, the profits of export orders have also dropped sharply.

From the 103rd session of the Canton fair just concluded, compared with the autumn trade fair last year, textile turnover decreased significantly, textile yarn, fabrics and products traded 410 million dollars, down 24.4%, clothing and accessories also decreased to varying degrees.

Coupled with the adjustment of export tax rebate, the adjustment of processing trade, the raising of loan interest rates, the implementation of new labor policies, the rising cost of raw materials and other unfavorable factors, China's textile exports face the most difficult year, and some textile orders have been pferred to the surrounding cheap countries.

Not only some small and medium-sized textile and garment enterprises in the Pearl River Delta have been closed down, but also in the Yangtze River Delta.

From a macro point of view, the first two months of this year's textile export volume has seen 1.78% negative growth for the first time, and the average profit margin of 2/3 textile enterprises in the whole country is only 0.62%.

Overall, the unsmooth export of downstream weaving and terminal textiles is a key factor affecting the market of polyester products. From the perspective of national macroeconomic regulation and control policies and economic operation, it is very unlikely that the downstream weaving and terminal textiles will get out of difficulties in the near future.

Entering the middle of April, the terminal textile market has not changed significantly. In the 1 quarter, the cost has continued to rise sharply, and the terminal has reached the limit of cost. The domestic textile enterprises have gradually been in a dilemma of small profits or even no profits. Under such circumstances, the terminal generation psychology is a natural thing. Accordingly, the downstream has begun to exert its counterforce on the upstream.

If the polyester product sales situation is expected to weaken further, then some polyester factories will reduce the price of related products under the dual pressure of capital and inventory. The possibility of further exploration of the whole polyester market is still possible.

Polyester production enterprises should take active measures.

Faced with the current unfavorable market situation, polyester production enterprises will vigorously adjust the product mix, increase the added value of products, strive to save resources, reduce costs, vigorously develop new and high technology fibers, and upgrade and upgrade the traditional chemical fiber industry with new and high technology.

First of all, the most important thing is to pform and upgrade the technology, equipment, process control and management of polyester fiber industry with high and new technology, so as to achieve the purpose of upgrading quality, reducing consumption, optimizing process and cleaning production.

Secondly, we should vigorously develop differentiated and functional products and increase the added value of products.

The development of high technology and new technology has provided a fast and low cost possibility for resolving chemical fiber differentiation and functionalization.

Third, we must firmly grasp the market demand.

The trend of polyester industry chain has changed from cost oriented to demand oriented.

Under the severe situation, enterprises can only take measures to deal with them positively, so that they can turn passivity into initiative and continuously improve market competitiveness in fierce competition.