the operating rate of PIY plants decreased dramatically to historic low in Sep-Oct affected by the regulation of energy consumption

In terms of the operating rate, the operating rate of PIY plants decreased dramatically to historic low in Sep-Oct affected by the regulation of energy consumption. By Oct 21, theoretical operating rate of PIY plants dropped to near 53%, only higher than the level in Feb-Mar of 2020 amid the COVID-19 pandemic. The monthly average run rate of Oct will also hit historic low, only next to the level in Feb-Mar of 2020. As a result, the production of PIY reduced substantially while downstream buyers increased replenishing with rising prices of PIY. Under such circumstance, monthly sales ratio of PIY was above 100% and PIY producers witnessed apparently decreasing stocks and tight delivery, which strongly pushed up price.