Polyester Profits Rose To A 3 Year High.

At the present stage, new changes have taken place in the PTA market. First, the demand for the downstream terminals exceeds expectations, and the polyester links will enhance the demand for PTA. Secondly, due to the excessive loss of PTA enterprises in October, the PTA operating rate has decreased in stages. The market conjecture that the supply of PTA may shrink further in December, and finally it is right.

Stocks with direct pressure are not increasing at present. PTA will oscillate or rise in the absence of new profits.

During the period of 2009 - 2011, the profit of polyester increased significantly and the capacity of polyester was also greatly expanded.

In 2012, the polyester industry began to adjust, and experienced the downturn in 2013. This year, the dawn of the whole industry is beginning.

This is due not only to slowing down the expansion of polyester production capacity, but also by overproducing polyester's upstream raw materials, namely PTA, and polyester enterprises can enjoy the world's lowest price raw materials.

Around mid August,

The operation rate will be greatly reduced due to losses and the production can barely be maintained for the rest of the time.

After a substantial loss in August, polyester's profitability rose rapidly.

As of early November, the profit level of polyester has reached a 3 year high point, and the profit of polyester DTY per ton has reached 1000 yuan.

As of November 7th, when the polyester stock level was between 7 and 17 days, the short and short stock level was 10 days. From a long period of view, the inventory level was below the average.

The overall operating rate of PET was 79.5%, of which 78.3% of polyester was used, 62% of which was short and short, and 77% of bottle flakes. This is the second peak since 4 to May.

We believe that later stage

A good trend is likely to continue. Even if PTA and MEG prices go up again, the high profit margins of polyester links will be hard to reverse.

From a larger perspective, the downstream textile and garment industry of polyester belongs to the consumer goods industry.

Although the economy has slowed down as a whole, textile consumption and clothing procurement are less affected.

Judging from the seasonal law, November is another peak of annual production and marketing, and the possibility of a slight decline in polyester production in December is greater, but it is difficult to reach a higher level in November.