new polyester capacity planning is basically concentrated in these leading enterprises

Product prices have fallen to historical lows, and benefits have gradually shrunk
From the perspective of product prices, the polyester market in 2019 is basically in a downward path, especially in the second half of the year. Due to the collapse of upstream cost and the deterioration of its own supply and demand fundamentals, the prices of various products have continued to hit the new low since 2015.

As for the profitability, the average cash flow in 2019 is still in the positive territory, and the average profit of each product reaches 100-400yuan/mt, but it has begun to show a downward trend compared with 2018. Among them, cash flow of PET bottle chip significantly declined, and profit of PFY and PSF has declined compared with 2018.