In 2015, PTA and polyester markets were depressed and oversupplied, and low start-up has become the most obvious feature of China's high molecular material processing industry, which is subject to energy, resources and environment. Since this year, the startup rate of major weaving clusters has not reached full load, and the startup rate in most regions hovers around 70%. In fact, not only the terminal weaving industry, the current PTA and polyester market is also in a downturn
after the National Day holiday, the load of PTA factory fell to 58%, 10% lower than that of the same period last year, the load of polyester factory fell to 77%, slightly higher than that of the same period last year by 5%, and the load of Jiangsu and Zhejiang looms fell to 62%, 15% lower than that of the same period last year
"② interference control to ground wire although the polyester operating load this year is higher than that of the same period last year, this time is another time." Analyst Wang Guangqian explained that due to the PTA factory price support alliance from June to August last year, the downstream polyester factories took joint production reduction measures in the same period, and the polyester operating load base was low last year. However, as the crude oil plummeted in the second half of last year, the costs of downstream industries decreased significantly, and the orders of terminal weaving industry increased significantly, showing a gradual recovery process of polyester load. "For this year, although the price of raw materials is relatively low, the terminal demand is low, and the production profit and inventory pressure of polyester enterprises are relatively large at present, so the space for polyester load to rise in the later stage is limited."
many insiders in the interview reported that the inventory of polyester products has been at a high level for a long time, leading to 12% of the plastics used most frequently Cultivating a batch of innovative complexes has made it more difficult to conduct price transmission, polyester product prices are weak to follow, and the cash flow of relevant enterprises is also worse than the average level of last year
"due to the lack of smooth cost transmission, the rise in raw material prices did not bring benefits to polyester enterprises, but led to the deterioration of polyester cash flow." According to Wei Lin, up to now, the cash flow of DTY, which has always had better benefits, has been reduced from 255 yuan/ton before the holiday to 23 yuan/ton at present; The cash flow of FDY, which was basically in break even before the holiday, was -196 yuan/ton
similarly, the PTA industry in the upstream has not been doing well this year. It is understood that the capacity of PTA new units planned to be put into operation in China this year reached 6.65 million tons. In the first quarter, Hengli Petrochemical's 2.2 million ton/year unit 3 was put into operation. In early July, Zhuhai BP's phase III 1.25 million ton/year new unit has also been successfully put into operation. At present, the total domestic PTA capacity has reached 46.93 million tons, exceeding the total domestic polyester capacity, and the oversupply situation has intensified
note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content