The representatives of polyester yarn mills in Changle

The representatives of polyester yarn mills in Changle, Fujian held a meeting last Saturday, advocating to cut production by 50% in the context of plunging raw materials, rising inventory and great losses. In fact, over 90% of the spinners in major producing areas of polyester yarn in Fujian and Jiangxi had curtailed production, making overall run rate down from 68% to 51%. However, it is not enough for current sluggish market. Polyester yarn is mainly used for knitting in South China, so taking circular knitting as an example, the operating rate of circular knitting machines in Fujian and Guangdong is only 20-30%, and in Xiaoshan and Shaoxing, it is only 40%. It can be seen that polyester yarn supply now is much excessive for downstream use