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In terms of operating rate, most PET bottle chip producers operated at high rates in the first half of 2022. Although factories issued production reduction plans gradually due to rising costs and weaker demand in the second half of the year, the overall operating rate remained at a high level, and s
Spandex capacity was at 1121.5kt/year in Chinese mainland now, up by 15.4% on annual basis. The yearly run rate of spandex producers will obviously descend. Current operating rate of spandex plants has fallen by 24 percentage points over early-Q4 to 59%. With subdued domestic and export demand, span
Based on current estimate, the orderly electricity consumption will not last long, mainly 1-7 days. DTY market will be affected the most, followed by fabric manufacturing market and chip-spun field, and the polymerization sector will be the least impacted. The influence on demand side will be bigger
In downstream market, operating rate decreased on weakening margins as end-use demand remained tepid. Meanwhile, in northern China, EPS plants were inactive to buy styrene as transportations were restricted due to the Covid-19 situation. The market is still oversupplied. The market could find suppo
