Polyester Industry High Inventory In March After The Normal Resumption Of Work, Mainly To Digest Inventory.

Public health incidents continue to date, affecting the polyester industry deeply. Despite the start of the resumption of work in mid February, the actual resumption process is slow, and the short-term market is still in a stalemate.

Before the Spring Festival, the domestic polyester industry started 71.3%, lower than the same period last year. However, the downstream weaving and printing and dyeing industry has stopped in succession than in January 10th. After the middle of the month, the pet market has shown signs of accumulation. However, the inventory level is still in the controllable range. Taking polyester filament as an example, POY inventory is in the vicinity of a week, and FDY inventory is basically in over ten days. At a low level, however, the overall inventory of polyester industry this year is much higher than that of the same period last year.

Under the influence of public health events, except for some medical related industries after the Spring Festival resumption, the rest of the enterprises were on vacation. The enterprises continued to expand the overhaul scale, and the industry started to continue to cut down, and the polyester industry dropped to around 68%. During the first trading week after the holiday, polyester salesmen are mostly telecommuting, while polyester factories are mostly migrant workers, who are late to work and have a certain impact on the operation of the plant.

In addition, other reasons such as lack of excipients, namely wooden frame, foam board, carton, etc., were accumulated during the Spring Festival, due to the Limited Logistics due to road closure, the influence of the downstream weaving postponed to resume work, and the unexpected expectation of the operators to the future market. All these are the reasons for the decline of the industry.

For polyester filament, after the Spring Festival, the overhaul of enterprises has been expanded. The device originally planned to restart after the Spring Festival has been postponed. In terms of polyester staple fiber, the total production capacity of the company is 2 million 650 thousand tons, including a set of about 250 thousand tons / year of Yizheng chemical fiber plant, which is a new production reduction device after the holiday. The rest of the enterprises that are scheduled to restart at the end of January are postponed to February 3rd to 13 days due to the extension of the labor intensive industries such as yarn, cloth and other labor intensive industries, and the lack of logistics.

Due to the delay of some enterprises' restart time due to the special period, and some enterprises still have additional production cuts, the production capacity after the holiday is expected to increase by 400 thousand tons to 2 million 800 thousand tons, and the loss capacity will increase by 17.39% compared with the pre holiday period. In terms of PET bottles, local manufacturers have reduced production operations and started to drop slightly to 73.55%.

In addition to the serious epidemic situation, the time of resumption was announced earlier than in February 10th. However, the actual situation is that the polyester varieties are to alleviate the pressure of inventory and continue to expand the scale of production reduction. After the second trading weeks, the domestic polyester starts fell to 59.14%, of which the decline of the polyester filament began to decline from 72.44% to 60.89%.

Downstream bombs and weaving enterprises are expected to postpone the time until the end of February, in March, the industry starts to return to normal level, and demand will also gradually increase. Although measures have been put in place to resume work, it is necessary for the field personnel to have at least 14 days of isolation. The cost of the separation period is higher, and the personnel and the enterprises themselves are required to bear it. Therefore, even if the approval is made, the situation of enterprises returning to work is still low. It is understood that the Fujian area is relatively early to resume work, of which Changle started in the early February, but manual reemployment is still more difficult, so the industry starts up rate is not high.

In order to stabilize the economic development, recently, Jiangsu and Zhejiang provinces and other places have launched a resumption of work. In order to let the migrant workers rush back to the city, Hangzhou announced:

A special train is set up to organize a special train to stabilize the area of the epidemic.

The Haining area has instruct enterprises to charter trains, charter flights and package trains, and take up new and old employees to return to posts. The government has increased the toll of 2/3. Haining has resumed 1094 enterprises, and the rate of return to work has reached 51%, and the number of workers returning to work has reached more than 60 thousand.

The Huzhou area has taken out 100 million yuan, which is specially used for enterprises to resume work and resume production, and to give employees of new enterprises 1000 yuan / person's one-time living allowance.

Ningbo encourages enterprises to expand the scale of recruitment. Ningbo stipulates that the number of enterprises participating in social insurance increased by 1 per month compared with the same period last year, and 500 yuan per person.

However, the actual resumption of work was not satisfactory. Although the logistics in the other regions gradually recovered after the middle of the month, the restrictions on the high speed and high roads were gradually eased. Anji Huayi and Ningbo Huaxing were also restarting, involving polyester filament and polyester chips. The overall operation rate of the polyester changed little. Downstream, cotton mills, weaving, printing and dyeing industries and so on, there are few enterprises in actual reemployment, and demand has not been effectively improved. Take polyester filament as an example. After the festival, only a few companies have been able to make effective turnover, and the highest production and sales in 3 days are near. Most enterprises have not yet opened up, and the market is still in a state of no market price.

During the war, the stock level of polyester industry was high because of the absence of the buyer. Under the pressure of high storage pressure, even if polyester and downstream areas resume work on schedule, the market is also facing the risk of decline. According to long Zhong weaving analysts, the downstream industry starts early in March and gradually returns to normal level. And before the festival, there are more stocks in the downstream businesses. In the short term, inventory is the main source, and the demand for polyester filament is difficult to change. At present, some polyester enterprises have launched a low price promotion mode, but little effect has been achieved, and the road to reemployment is long.