Oct 08, 2023
Current polyester polymerization rate was at 92.8%, which may reduce in Sep as some companies may be limited production due to the Asian Games. Some companies said they will limit production, including 200kt/year from Lianda and 750kt+600kt/year polymer of Hengyi Yijing. The specific time for production suspension has not been confirmed temporarily. In addition, some companies in Xiaoshan and Shaoxing of Zhejiang reflect that they will scale down output by 30%. Whether these enterprises will cut production or not and when will they start reducing production remain uncertain, needing further observation. Downstream printing and dyeing plants, DTY plants and fabric mills do not receive notice to limit production for the time being. The polyester polymerization rate in Q4 will depend on the performance in peak season, which may decrease further in Q4 if the performance of peak season is weaker than anticipated.