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Chinas polyester markets shows downturn on high inventory levels

April 09/2012

(news.szenergy) -- Chinas 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.

Chinas 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.


mrcplast.com
Author:Anna Larionova
Tags:fibers/filaments.
Category:General News
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