The Policy Effectiveness Of Reducing The Operating Rate Of Chemical Fiber Enterprises Has Not Yet Been Revealed.
The recession of the textile industry has directly affected the upstream chemical fiber, polyurethane and other enterprises. Huafeng spandex (002064, SZ) announced yesterday that part of its production line was shut down for maintenance, and its operating rate dropped to 50%. Yantai Wanhua (600309, SH) also said that although the fall in oil prices saved the cost of enterprises, the sluggish demand still kept the prices of products low. Textile export tax rebate was raised to a high of 15% in the middle of this month, but the effectiveness of the policy has not yet been revealed.
Mr. Wang, Secretary of Huafeng spandex board, said that it is not yet possible to determine the time for resumption of production, depending on overhaul and market football. He said spandex fiber is the main product of Huafeng spandex, and its downstream customers are also mostly textile enterprises. The effect of raising the tax rebate rate of textile exports on textile enterprises has not yet appeared, and the demand for customers in the downstream of Huafeng spandex is still seriously insufficient. Although the fall in oil prices has eased the pressure of Huafeng spandex to some extent, Mr. Wang said that the key to deciding the efficiency of enterprises is supply and demand.
Yantai Wanhua's products are mainly used in clothing and shoemaking industry. Mr. Song of Yantai Wanhua Company Securities Department said that the price of oil and other chemical raw materials dropped sharply in the second half of the year, and the cost of the enterprises is at the lowest level in recent years. The main raw materials of the company are aniline and liquid chlorine. The price of aniline has dropped sharply in recent years. At present, the price has dropped more than 70% compared with the highest point this year.
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