Polyester Profit Rose Quietly, And The Market Is Still Available In The Busy Season?

Storage is the outbreak of this fall, especially the expansion of polyester factory's production reduction: at the beginning, polyester production decreased only in polyester staple fibers.

As well as polyester chip factories, only 3% of the total consumption is reduced. However, with the further expansion of the profit bearing and pressure reduction factories, especially the polyester filament yarn, the market is also worried about the PTA supply and demand pattern.

By the beginning of this week, the production of polyester factories has been expanded to 17 thousand tons, equivalent to PTA consumption of 14 thousand and 500 tons.

On Tuesday, the news of the joint production reduction of three domestic polyester factories flooded the market. The news weakened the PTA spot price once again, and the spot price dropped to 7500 yuan / ton.

PTA profit is coming to an end?

PTA supply is constrained by three conditions: raw material PX, production profit and production desire.

In terms of PX, there are more equipment overhauls in recent Asia and less supply of PX.

Domestic PTA production is at a high level and demand for PX has increased.

The domestic PX repository has been continuously removed, and the shortage of raw materials (PX) has limited the supply of PTA, which is the main influencing factor of PTA supply at present.

At present, the profit of PTA production can not constitute the limiting factor of supply. The production willingness of mainstream production factories determines the supply of PTA.

From the rhythm of the planned maintenance of the PTA plant, the mainstream production plants are being repaired on schedule. However, the rise in PTA prices has squeezed the profits of the polyester plant, resulting in a lower willingness to start the polyester plant.

The decline of polyester operating rate in the lower reaches has led to maintenance of the PTA link, but supply and demand are still in a relaxed state.

It can be seen that the distortion of the profits of the PTA industry chain has led to the resistance of the downstream polyester industry, and PTA has come back to the balance of supply and demand. The golden age of PX and PTA earnings is coming to an end.

The profit of polyester was improved unexpectedly

Bad news, such as falling prices, production and marketing slump, and rising inventory, did not prevent pet profits from improving.

As the upstream cost of raw materials, especially PTA, has dropped substantially, polyester manufacturers have eased the cost pressure to a certain extent, and the earlier profit margins are becoming more and more full.

As of the 18 day, POY 150D profits rose sharply to 1320 yuan / ton; DTY 150D profit margins also rose to more than 1000 yuan, to 1020 yuan / ton; in addition, FDY 150D profits also rose sharply to 970 yuan / ton nearby.

Of course, this is only theoretical profit, polyester manufacturers also need to increase various cost losses, the actual profit is slightly lower; but now

The profit margin is indeed better than before.

Overall, since September

Production and marketing is still sluggish, resulting in a significant increase in pet market stocks, resulting in polyester manufacturers have to conduct large-scale maintenance downloads.

Expected market outlook

We will enter the recovery channel slowly and expect the peak season to arrive. We also need to pay close attention to the price fluctuation of polyester raw materials.