Affected by public health emergencies during the holidays, holidays have been extended in various places. In particular, downstream textile companies have postponed their restart until after February 10. In addition, due to the impact of logistics controls in many places, polyester staple fiber Market trading has suffered setbacks, and the pressure on industry inventories has generally increased.
According to statistics: the holiday shutdown involves a total of 3.055 million tons of production capacity. Most companies that originally planned to restart at the end of January are unable to lay down yarn and cloth due to the special period. Due to the extended holidays of labor-intensive industries and the impact of logistics difficulties in many places, the restart will be postponed to February 9-20. As of February 10, the operating rate of direct-spun polyester staple fiber was 50.05%, and since entering 2020, the operating load of polyester staple fiber has reached new lows. At this stage, the operating rate of polyester staple fiber has reached a new low since the end of February 2016.
Due to various factors such as the extension of the holiday and the difficulty of personnel returning to work, the start-up time of many downstream spinning mills has been postponed to February 9 or later. Only the Changle area of Fujian started slightly earlier than February. On March 1, but it also faced the impact of the difficulty for workers to return to work, resulting in a low start-up.
Although some companies in other downstream consumer markets, such as spunlace non-woven fabrics, started operations earlier, the spunlace industry only accounts for about 10% of the polyester staple fiber consumer market, and spunlace non-woven fabrics are mostly used once In the field of disposable wiping, there are very few materials used in the medical industry, so it is difficult to support the polyester staple fiber market overall. Moreover, in the sewing thread industry, which accounts for about 10% of the consumption of polyester staple fiber, 70% of the companies are concentrated in Hubei. , local enterprises should not resume work earlier than February 17.
Overall, downstream yarn and cloth factories were completely shut down during the Spring Festival holiday. However, due to special events, the post-holiday resumption of work was often 3-10 days later than the original time, and some districts were even delayed by 15 days. More than 10 days, especially Hubei sewing thread companies are expected to resume work late, and polyester staple fiber factories are under heavy inventory pressure. Coupled with logistics control, some companies have postponed restarts or made additional production cuts. The pressure on raw material warehouses has also increased, especially for PTA. The warehouse pressure is high, and due to concerns about declining demand, the decline in oil and PX during the holidays will also have a certain drag on the market. It is comprehensively expected that the market will be under greater downward pressure after the holiday, and the price of polyester staple fiber is expected to fall to 6,500 yuan/ton after the holiday.
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