PX gains profound support from demand

Jul 28, 2023

China polyester market has been strong since Mar. Despite operating rate cuts in Apr, polyester plant operating rate has climbed up again since May, to above 90% in late May. According to the data compiled by CCFGroup, China domestic polyester production increased by 5.7% on year during Jan-Jun 2023. At the same time, newly-started polyester capacity reached more than 5.2 million mt/yr. From the perspective of polyester growth, it is a profound support to PX demand.

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