Demand may weaken again in Nov-Dec and overall market may witness mounting stocks and narrowing profit

Additionally, supply reduced as many plants were forced to cut production amid the regulation of energy consumption. With rising profit and falling stocks, downstream supply had big resilience, which should pay attention to the alleviation of Dual Control on energy consumption. The downstream market of polyester and cotton industries presented diversified appearances. Polyester and its downstream market witnessed apparently decreasing stocks. Downstream buyers were active in chasing up. However, cotton value chain continued seeing higher stocks despite of weaker regulation of energy consumption and buyers were inactive in following the uptrend. The regulation of energy consumption remained strict now but has been eased marginally. The operation rate of downstream plants changed substantially while has ascended greatly compared with late-Sep. Supply shrinkage gradually has made up. Demand may weaken again in Nov-Dec and overall market may witness mounting stocks and narrowing profit.