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    Polyester Chips Sliced For Struggle

    2019/5/14 10:35:00 13805

    PET Chip

    PTA processing fee has climbed to a high level of 2000+ recently. PTA, which has a lot of profits, has become the brightest star in the polyester industry chain.

    Fig. 1 PTA processing fee

    Source: lung Chung


    At present, the PTA market is still strong, and the processing fee is still high. Because the price of PX is declining and giving up profits, and the big factory is very strong, PTA is unwilling to lower its profit in the expectation of high profit and low inventory, which also causes the pressure of the downstream polyester market to increase.

    Fig. 2 polyester chip price and profit trend

    Source: lung Chung

    In recent years, the cost of polyester has been rising, the pressure of polyester enterprises has appeared, the polyester chip producers in the early stage started to have high positions, and the supply was also abundant. However, the purchasing intention of the downstream terminal market was weak, and the terminal textile market gradually entered the traditional off-season. At present, the profit of polyester chip manufacturers has gradually shrunk, from 448.2753 yuan last month to 51.72 yuan at present, down 88.46%.

    The same period fell 88.97%, profits fell with polyester enterprise inventory pressure rise, recent polyester production cut and intention to upgrade.

    The market for polyester chips is still weak, and it wants to promote sales and sales recovery by way of price reduction, but the result is very little.

    At present, the market lacks solid promotion, and the downstream purchase is still cautious.

    Up to now, the mainstream of the semi light section in Jiangsu and Zhejiang provinces is 7550 yuan / ton, and the mainstream is 7650 yuan / ton.

    Prices fell 5.03% from a month earlier, down 6.79% during the same period.

    Table 1 list of polyester maintenance

    factory

    Involving capacity

    repair time

    Estimated restart time

    Products involved

    Suzhou Jiangnan

    Thirty

    Four

    Beginning of the month

    Five

    Mid month

    Psf

    Luoyang petrochemical

    Ten

    Two thousand and nineteen

    April 26th year

    Six

    Beginning of the month

    Psf

    Shihua synthetic fiber

    Fifteen

    Two thousand and nineteen

    April 26th 2013

    Six

    Beginning of the month

    Psf

    Fujian nylon

    Eighteen

    Four

    End of month

    Undetermined

    Psf

    Hua Hong

    Twenty

    Two thousand and nineteen

    May 7th 2013

    Undetermined

    Psf

    Tiansheng

    Forty

    Two thousand and nineteen

    May 8th 2013

    Estimated overhaul for 10-15 days.

    Sliced and filament

    Three lane

    Twenty

    Two thousand and nineteen

    May 9th 2013

    Undetermined

    Psf

    Zhangjiagang Xinxin

    Ten

    The near future

    It is expected to be servicing for half a month.

    Polyester filament

    Shanghai petrochemical

    Thirty-five

    Two thousand and nineteen

    May 17th 2013

    Two thousand and nineteen

    June 11th 2013

    Slicing and staple fiber

    A factory in Jiangsu

    Twenty

    Six

    End of month

    Undetermined

    PET chip

    Ancient towpath

    One hundred and twenty

    Six

    month

    Undetermined

    Slicing, filament and industrial yarn

    Fujian Xiang Lu

    Thirty-six

    Six

    month

    The plan is down 30%, 25 days.

    Filament and staple fiber

    Source: lung Chung

    Recently, the polyester profit has been squeezed heavily by raw material PTA profit. In the past, the polyester market will generally advance and retreat with the raw materials. But this year, although PTA support is acceptable, the downstream terminal textile market operation rate has been declining, and the purchasing enthusiasm is not good. The national loom starts at 73.56%, and the ring ratio slipped by 0.63% again. Especially this year, the overall opening rate of the loom loom is only kept at a low level near 46.3%, and some small round machine factories in Keqiao are closed.

    PTA profit pmission blocked, polyester products were sandwiched in the middle, and polyester stocks gradually increased, so polyester factory under heavy pressure, when the maintenance of the dynamics of concern, polyester factory has finally released the maintenance and production of the expected notice, but it seems that the downstream terminal is still poor performance, polyester production and marketing is still flat.

    On the whole, the cost of polyester chips is relatively high, but the downstream slicing and terminal market is weak. The profit of polyester chips is deteriorating under the double squeeze of supply and demand. If the raw material terminal continues to maintain strong, the production or maintenance team of the market or polyester plant will continue to expand.

    At present, PET chips are mainly vulnerable to shocks. In the later stage, we should pay attention to the trend of PTA processing fees and downstream terminal orders.

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