Introduction: The lack of quality of “Golden Nine” has become a foregone conclusion. In a relatively quiet market, polyester factories not only face cash flow losses, but also face the risk of inventory accumulation and supply Pressure and weak demand have restricted the market, and the polyester yarn market is under heavy pressure.
The “Golden Nine” in 2020 has arrived as scheduled, but the terminal demand for polyester filament has not improved. Most downstream companies began to increase their autumn and winter orders in mid-August, and the weaving start-up rate gradually increased, but downstream orders The follow-up was insufficient and the overall order quantity was lower than in previous years. Weak downstream demand has caused the overall polyester filament market to show a volatile and weak trend. However, when the Golden Nine peak season is not prosperous, the overall profit of the polyester industry is low.
Polyester raw materials PTA and ethylene glycol have been subject to inventory pressure, and the cost support is difficult to say optimistically. Polyester factories are under inventory pressure , had to carry out preferential promotions, which further aggravated the cash flow losses of polyester filament, while the downstream stocking time during promotions only lasted 3-4 days, or as long as a week. Under financial pressure, the ability to continuously follow up on orders was insufficient, resulting in At present, polyester filament factories are in a predicament of not promoting sales and selling goods. As of now, the polyester filament POY inventory is 12-18 days old, the POY price is around 4900-5050 yuan/ton, and the POY profit is -306 yuan/ton.
The second outbreak of the foreign epidemic has put orders at risk of being canceled at any time, making it difficult for the foreign trade market to recover. However, new orders in the domestic market have significantly decreased, making it difficult for demand to improve. In addition, before the National Day holiday, , some downstream factories have holiday plans, and the short-term demand for polyester filament will be further reduced. The tepid market in September may continue until October. Facing the “Silver Ten”, many industry players are pessimistic, and the polyester filament market may usher in a long winter ahead of schedule.
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