Market Profile
Short comment
The epidemic situation has improved recently, and the lower reaches of the polyester industry chain have entered the stage of resumption of work, but the progress is slow. Most polyester stocks, except polyester staple fiber, continue to rise. Polyester factory product inventories continue to pile up. In terms of raw materials, PTA inventories have risen to the highest level in recent years, and MEG inventories have also continued to rise. The recent rise in crude oil and the depreciation of the RMB have caused increased cost pressure on polyester raw materials. The construction starts of PTA and EG have declined slightly, but new production capacity is still expected, and inventories are high, downstream construction is not smooth, and there is great short-term upward resistance, and the cost line may continue to be tested.
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