Market Overview
Views and Strategies Affected by the epidemic, traffic control in various provinces and cities has been strict. Last week, we were in a critical stage of epidemic control. Control has not been relaxed. Product inventories in ester factories continue to accumulate, and the reduction in production and suspension of production has been obvious due to high inventories. As of last Friday, the polyester operating rate fell back to around 59.96%, and the demand side suffered a lot. Sluggish downstream operations have led to a decline in upstream raw material production. Among them, PTA dropped by 5.82% to 81.16%. On February 14, Hanbang’s 2.2 million tons unit was suspended for a week, and Fuhua’s load dropped by 60%. The downstream weaving department has less effective recovery capacity. At present, PTA and EG spot inventories have increased significantly, and coupled with limited downstream demand, they may remain low in the short term. In the later stage, we need to pay attention to the development of the epidemic and the resumption of work in downstream manufacturing links.
</p
