What will the performance of the chemical fiber industry enter in 2015?

This paper combed the reporting dynamic of Listed Companies in polyester, polyester industrial yarn, nylon, viscose, spandex and other industries, so as to ponder over the future development trend of the entire chemical fiber industry.

Although the overall market trend is not satisfactory,

The industry is also actively adjusting the industry to speed up the release of the signal.

At the same time, the industry has sprung up excellent varieties such as polyester industrial yarn and spandex.

In addition, under the same business, some enterprises managed to get wind up, while others handed in a report card with a sharp decline in performance.

Although many sub sectors of the industry have not yet recovered, it can be seen from the corporate statements that some enterprises are not having problems in the main business, while in the use of financial instruments, such as the loss of heavy losses in the operation of PTA futures, some export enterprises are slow to respond to exchange rate changes, resulting in increased losses. Some of them are not in the right time to enter the real estate industry, resulting in the loss of corporate profits and dragging down the overall performance.

On the whole, the capacity of initial investment and construction has become the pain of many enterprises in the past year.

Perhaps because of the large market demand and the characteristics of the chemical fiber industry, the new capacity may be easier and more economical than the M & A, but at a time when the market demand is slowing down and the capacity is excessive, it may be a better way to expand through acquisitions.

However, enterprises must make acquisitions according to their own development plans, or expand their industrial chains, or enrich their varieties.

Main trend of chemical fiber in 2014

Weak polyester raw materials market

In mid 1~3 2014, the stock of polyester factories increased after the demand weakened and the recovery began to slow down before and after the Spring Festival.

Besides, upstream raw materials are weak and cost support is limited.

Two quarter

Equipment maintenance and upgrading, the market rebound after a short period of time, it is difficult to resist the overall situation of weakness, the market continues to weaken.

Starting from April, polyester was mainly made of slow bottoming, which was briefly promoted by the maintenance of raw materials PTA plant. The purchasing atmosphere in the lower reaches is still insufficient, and the wait-and-see mentality is strong.

In May, the wave of polyester wave rose after PTA's strong rebound.

Subsequently, the market weakened again.

By the end of the year, the decline in oil prices had led to lower prices of raw materials.

Without the support of raw materials, coupled with the sluggish downstream demand, the overall trend of the industry is still weak.

Nylon cost collapse vulnerable downward

2014

The overall trend of decline is more than 10% in the whole year.

In the beginning of the year, the operation rate of nylon was low, the market supply was insufficient, and the price was at a high level. In the late stage, with the improvement of the operating rate, the output increased significantly, and the demand for the terminal market was weak, leading to the situation that nylon was in a state of oversupply, so the price declined.

By the end of July and early August, due to the small profit operation of nylon manufacturers, some upstream manufacturers of lactams had been overhauled, and then some parts of the nylon factory were also shut down, and the operating rate dropped to about 75% at once, and the supply decreased significantly.

In mid August, the terminal market was out of season and the demand was sluggish.

Coupled with the falling market price of the upstream caprolactam, the rebound in filament prices is even more difficult.

In November, upstream caprolactam plant was overhauled, and the starting rate of nylon manufacturers also declined. However, the reduction in production did not bring good news to filament.

In addition, the deep drop of crude oil in November brought a great impact on pure benzene and chemical products. With the low cost, the price of nylon has gone down a step. Up to December, it still did not bring favorable support.