By the end of the year 2023, how is the production of the polyester industry this year? Data show that the domestic polyester industry added a total of 11.41 million tons of new capacity/year, an increase of 5.795 million tons/year over the same period last year, an increase of 103%.

This is also in line with the industry's expectations of polyester production at the beginning of the year, compared with the annual investment output of around 4-5 million tons in the past few years, there is a significant increase in 2023.

Production capacity increases, the price is difficult to rise

In recent years, the contradiction between supply and demand in the textile industry has become prominent, and the problem of overcapacity is serious. However, in the production of polyester capacity, the largest share is still polyester products, accounting for 58% of the production share.

Since the beginning of 2023, the global inflation is not reduced consumption levels, the textile market has also been implicated, forming a domestic trade volume price, foreign trade is difficult to accept the situation.

The lack of orders is serious, resulting in serious overcapacity in the upstream and downstream. Under the pressure of all parties, the difficulty of order quotation coupled with the depreciation of inventory jointly inhibits the enthusiasm of downstream bomb and weaving factories.

Therefore, the consumption of raw materials in weaving enterprises decreased, and the shipment pressure of polyester factories increased, resulting in the polyester filament market easy to fall and difficult to rise, and the magic weapon of "buy up" completely failed, and the promotion can touch people's hearts.

Cost support, just for promotion

Recently, due to the Red Sea incident, oil prices have also been driven up, and polyester has also used the opportunity to slightly increase the price, but the pace of increase is more cautious, basically about 50 yuan/ton.

And it is also the sudden rise in the cost side that directly caught the polyester by surprise, and the cash flow that had been gradually repaired fell into loss again.

Previously, in November last year, polyester prices rose almost a month before turning a profit to lay a good foundation for the December promotion, and now the situation is very similar.

Although there is no great demand downstream, but now to quickly raise prices, the cash flow pull a pull, so that weaving enterprises before the Spring Festival holiday, open the last wave of year-end promotion.

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