Low polyester operating rate

1. Low polyester operating rate
Impact by the epidemic, the consumption and manufacturing in China slowed down obviously. As of the end of Feb, the operation of downstream textile sector was still extremely low, slightly higher than 20%, hence the small appetite for polyester. In the meantime, polyester operating rate dropped after the Spring Festival holiday, duet to thin demand, rising inventory and lack of workers, falling to several year’s record low of 59%.