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Polymerization rate has started declining heat bonding fiber
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Polymerization rate has started declining heat bonding fiber

Views:3     Author:Site Editor     Publish Time: 2019-05-13      Origin:Site

Operating rate of twisting units and fabric manufacturing plants in Zhejiang declined to 84% and 75% respectively in end-Apr from 89% and 85% in early-Apr, directly resulting into weaker rigid demand for polyester filament yarn. Besides, speculative demand was insufficient when capital was occupied by the high stocks and the high processing gap of spot PTA had downward risk.



Apr average sales ratio of PFY was around 95% affected by the promotion in end-Apr, and stocks of PFY and PSF rose by below 1 days. However, inventory burden in PFY and PSF market heightened substantially after 4-day May Day holiday, and demand is supposed to be not optimistic in later period.

You can trace more about the downstream market situation from the Operation report of fabric mills in Zhejiang and Jiangsu

Stocks of PSF and PFY since Apr 2019 (Unit: day)
StocksPOYFDYDTYPSF
1-Apr10.314.523.38.5
30-Apr1114.523.99.5
Increase in Apr0.700.61
5-May13.717.526.611.3
Increase during holiday2.732.71.8

End-users will enter slack season in May
In view of foreign trade, the Sino-US trade conflict intensifies and the Muslim nations will welcome Ramadan (from May 6 to Jun 5), so demand may be feeble.

As for domestic trade, operating rate of downstream plants is expected to decline further in May and orders may be hard to improve after entering off-season. Speculative demand also lacks support. After the intensive shutdown during the May Day holiday, run rate of warp knitting and circular knitting machines was slanting low now, and that of woven fabric plants sustained supported by rigid demand. Once stocks of woven fabric move up to a high level, the run rate is supposed to decline. Operating rate of twisting plants did not decline much but may be affected if demand from fabric manufacturing sector sustains slack. Operating rate of polyester spun yarn plants is supposed to decline too affected by the stocks issue and busy farm season in North China.

PET bottle chip plants also witnessed slower orders. Orders for the third quarter is taken into in the second quarter, while the third quarter is a slack consumption season. Generally, demand support on polyester sector is feeble.


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