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Looking at the polyester sector, PET bottle chip plants are the first to react. 950kt/year PET resin capacity is cut down since late Oct, and China average O/R inched down to 72% (O/R at 80.2% if based on designed capacity). If including some large plant turnaround plan in Nov, overall closed capaci
Based on rough calculation, correlation coefficient of polyester products average price and average cash flow is around 0.42, which means the inverse correlation coefficient approaches 0.6, the similar as we feel in actual trading. Below chart gathers PX, PTA and polyester products cash flow, which
