Affected By Falling Demand For Polyester, Some Devices Will Be Stranded In The Two Quarter.

China's polyester production capacity is expanding further.

According to statistics of Zhuo Chuang's information, as of the end of 4 2019, China's polyester production capacity reached 55 million 740 thousand tons / year, an increase of 2.3% over the end of 2018.

In 2019 1-4, China's polyester production capacity increased by 1 million 240 thousand tons.

During the period, a total of 8 sets of new polyester devices were successfully put into operation. The new capacity matching products were mainly concentrated in three fields: polyester chips, polyester filament and polyester staple fiber.

It includes: 100 thousand tons of polyester staple fiber, 60 thousand tons of polyester chips for environmental protection, 250 thousand tons of polyester chips and polyester staple fiber, 200 thousand tons polyester fiber of warp and weft, 200 thousand tons of polyester filament, 100 thousand tons polyester fiber of polyester fiber, 200 thousand tons polyester chip of Jiangsu, 80 thousand ton polyester fiber of Xiangyang, and 250 thousand tons of polyester filament of Jiangsu Yichang.

Table 12019 new production of PET plant in 1-4

In terms of the month, the polyester plant in March was relatively concentrated, with a total capacity of 750 thousand tons.

The new capacity in February and April was 160 thousand tons and 330 thousand tons respectively.

Next, 5-6 month polyester production capacity growth or will be shelved!

After entering the May, the stock of polyester filament factory has been accumulating continuously, and the profit has been further compressed. Some factories have already overhauled and lowered the negative plan, and the load point of polyester filament has appeared.

Since mainstream suppliers began to buy back PTA spot in April, the spot price of PTA has been strong upward, but at present, downstream and terminal weaving has entered the traditional off-season. In addition, at present, the overall inventory of finished products is more. At present, the wait-and-see mentality is obvious, and the trading atmosphere in the field is the same. Although the polyester factory has a large discount sale, the overall production and sales scale is limited.

Affected by the sluggish production and marketing of polyester products, the overall stock of polyester factories is increasing at this stage. Up to now, the number of stocks of three kinds of PET filament has been at the highest level since this year.

The stock pressure is increasing, and the price of PTA continues to be strong. At present, most of the profits from the polyester industry chain flow to PTA. At this point, the processing fee of PTA has exceeded 2000 yuan / ton, and the polyester factory has been reducing shipments continuously for a long time.

Affected by the negative effects of these two aspects, some polyester factories have begun to overhaul or reduce the load, and the load point of polyester filament has already appeared.

At the same time, the trade situation between China and the United States has changed, the financial market has been fluctuating fiercely, and the textile industry and exchange rate fluctuations that are closely related to it also involve market participants.

In the eleventh round of Sino US economic and trade consultations without clear optimism, the recent financial market performance weakened, and export oriented textile related products futures fell, although the domestic cotton market has entered the traditional cotton main production area weather speculation stage, but due to the external market situation is too complex, Zheng cotton and cotton yarn futures both limit, PTA decline as raw materials are weak, and another chemical fiber raw material ethylene glycol bear the external environment of financial risks and terminal industry forced pressure, is a long way to bear.

In the short term, the textile industry is bad for the formation of polyester industry chain from the bottom to the top, although the polyester plant has started a high position, but the terminal weaving Market is not flourishing, the inventory of grey fabric is high, resulting in the poor production and sale of pet products, and the average monthly production of polyester and silk products is about 81%. At present, polyester has been in a state of loss, and the production of polyester factories will be cut down or down in the future or down in April.

Therefore, in the later stage, the polyester filament will remain weak when surrounded by heavy profits, and there will be further decline in device load.

Next, 5-6 month polyester production capacity growth or polyester market performance is sluggish, the impact of the industry's operating rate tends to decline, shelved, the entire two quarter of the new capacity is lower than expected, part of the installation time or postponed to the three quarter.

(source: Zhuo Chuang information, long Zhong information)