|
(news.szenergy) -- China’s polyester markets, which
started to show signs of a recovery last week, made a downturn once again after
a three-day holiday as polyester fiber inventory levels remained high, market
sources said Thursday.
As a result, the sentiment in the purified terephthalic acid and monoethylene
glycol markets weakened as demand for the two key polyester feedstocks fell
again.
China’s polyester chain markets started to recover last week, driven by
rising textile sales. According to market sources, textile sales in China hit
over 6 million meter earlier last week, the highest level since the Lunar New
Year holidays.
The sales/production ratio in the polyester markets also rose last week; and
market sources said the ratio was at 150-200% compared with below 100% a few
weeks ago.
But the sales/production ratio started to retreat from the weekend and was
pegged at 50-60% this week. |
