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PTA industry
[2960]: Due to the dual impact of cost collapse and epidemic suppression demand, the spot price of PTA fell to 2960 yuan/ton on April 22, 2020, a record low.
[2.87 times]: The inventory at the end of the year increased by 2.87 times. With the release of new equipment production capacity, the growth rate of supply is significantly higher than the growth rate of demand, and the inventory growth is obvious.
[321,972]: The spot market is under significant inventory pressure, and the delivery warehouse has been expanded twice. On December 15, 2020, the registered warehouse receipts reached a record high of 321,72 million.
[5.585 million]: In 2020, the newly invested polyester plant will reach 5.585 million tons, and the newly added scale of the plant has reached a record high, but the growth rate is far lower than that of the supply-side PTA plant.
[64.90%]: The concentration of production capacity of PTA manufacturers has continued to increase, and the industry's CR5 production capacity has reached 64.90%, and there is a trend of continuous improvement.
[320]: The application of new process technology enables the PTA processing fee to be as low as 320 yuan/ton, which is an obvious cost advantage compared with the current mainstream equipment's average processing fee of 550 yuan/ton.
[998,100]: The release of supply capacity is superimposed on demand. In February 2020, PTA accumulated 998,100 tons in a single month, creating the largest value of PTA in a single month.
[31.294 billion]: The recovery of domestic textiles coincides with the fermentation of the overseas epidemic. In July 2020, the export volume of textiles and clothing reached US$31.294 billion, a record high.
[17.25%]: The production capacity growth rate is 17.25%. PTA has officially entered a period of concentrated production capacity. The growth rate of supply is significantly higher than the growth rate of demand. In 2021, the PTA supply and demand structure will turn into excess.
[45.82%]: PX industry profits were cut in half. Domestic production capacity and foreign load remain high, and the contradiction between PX supply and demand has caused the processing gap to fall by US$170/ton compared to 2019, a 45.82% drop.
Polyester staple fiber industry
[8.29%] The growth rate of polyester staple fiber production in 2020 is 8.29%. Although the decline in global demand caused by the epidemic has had a major impact on the entire industry, polyester staple fiber relies on its price advantage to improve the substitution performance of other related products. The output in 2020 will reach 6.771 million tons, a year-on-year growth rate of 8.29%. Higher level.
[5250] In 2020, the price of polyester staple fiber fell below a 10-year low, and reached the bottom line of 5250 yuan/ton at the end of March and September. The continued fermentation of overseas public health incidents has caused a heavy setback in crude oil. As a petroleum-based fiber, polyester staple fiber is naturally inevitable, and due to the severe decline in foreign trade demand, the price of polyester staple fiber bottomed out many times during the year.
[5.99%] The yield rate of polyester staple fiber is 5.99% in 2020, which is the product with the highest yield rate among polyester products. Benefiting from the increase in demand for anti-epidemic materials and the cost advantages brought about by low polymerization costs, polyester staple fiber continued to show signs of low inventory and high profits during the year, and industry profits continued to be good.
[-9.9 days] Inventory of polyester staple fiber equity in 2020 will be the lowest -9.9 days, the lowest level in five years. Also benefiting from the growth in demand for anti-epidemic materials, in addition, the entry of some social funds and futures merchants has also helped companies to substantially destock. In December 2020, the inventory of polyester staple fiber enterprises hit a new low.
[3584] The cost of aggregation in 2020 will also hit a 10-year low. The spread of overseas epidemics intensified market panic. The negative value of WTI crude oil futures in April also dragged down the aggregate cost to a 10-year low. The lowest point of aggregate cost during the year was 3,584 yuan/ton.
[-20.2%] The export volume of polyester staple fiber from January to November 2020 fell by 20.2% year-on-year. Affected by the continued spread of overseas epidemics and trade frictions, my country's polyester staple fiber exports from January to November 2020 totaled 718,800 tons, a year-on-year decrease of 20.2%.
[82.63%] The average annual operating rate of polyester staple fiber in 2020 is 82.63%, a record high in five years. Affected by high profits and low inventory, staple fiber companies are more enthusiastic about production. Except for the low industry operating rate in the first quarter due to the domestic epidemic, the operating rate of polyester staple fiber in the remaining three quarters was higher than the same period in previous years.
[31.76%] The downstream spunlace non-woven fabrics of polyester staple fiber involve the demand for some anti-epidemic materials, and the production capacity and output have increased significantly; the number of newly signed spunlace lines increased sharply in 2020, and most of the newly signed spunlace lines that year were around 100 It will be launched in 2021. It is expected that the spunlace production capacity will reach 1.7 million tons in 2021, and the capacity growth rate will reach 31.76%.
[7+4] On October 12, polyester staple fiber futures were listed on the Zhengzhou Commodity Exchange, and 7 companies were designated as delivery brands, and 5 staple fiber brands were added as delivery brands in November.
[445 million tons] The newly added production capacity of polyester staple fiber is expected to be 4.45 million tons in 2021-2022. Affected by low inventory and high profit, polyester staple fiber project planning is favored. According to statistics, from 2021 to 2022, the new production capacity of polyester staple fiber will total 4.45 million tons, and the total production capacity of the polyester staple fiber industry will reach 12.61 million tons.
Regenerated cellulose fiber industry
[23] The number of viscose staple fiber production enterprises nationwide for a total of 25 years in 2020 will be reduced to 23 by excluding the two long-term production capacity in 2021 under the continuous losses.
[61.8%] Domestic and foreign sales were blocked. In the first half of the year, the start-up of viscose staple fiber remained low. The average start-up rate in May was 61.8%, the lowest level during the year. The annual output was 3.7 million tons, -5.61% year-on-year.
[391,000 tons] The imbalance between supply and demand in the first half of the year led to an increase in the physical inventory of viscose staple fiber factories, which reached the highest level of 391,000 tons in early May.
[16.9%] The epidemic has driven non-woven demand growth. In 2020, the output of non-woven viscose staple fiber will be 626,000 tons, accounting for 16.9% of the total viscose staple fiber production capacity, an increase of 5.9 percentage points from last year.
[4300] In 2020, the price difference between non-woven viscose staple fiber and spinning is as high as 4300 yuan/ton peak in May. In 2020, the average annual price difference between non-woven viscose staple fiber and spinning is 1256 yuan/ton.
[39.4%] Lyocell fiber is known as the green fiber of the 21st century, and its production capacity is developing rapidly. From 2012 to 2020, the compound annual growth rate of China's Lyocell production capacity is 39.4%.
[-2700] In 2020, the price difference between Lyocell and Modal will turn positive to negative, and the negative value will continue to expand. By the end of 2020, the price difference between Lymo has reached more than -2700 yuan/ton.
[November] The export volume of viscose staple fiber from January to June fell by 20.4% year-on-year. From July to November, the export volume of the whole year started to be positive year-on-year. The export volume from January to November increased by 0.37% year-on-year.
[2100 sets] The production cost of the vortex spinning process is low. In 2020, the number of vortex machines in China will increase to 2,100. It is expected that the vortex machines will continue to grow in 2021 and the demand for viscose staple fibers will increase.
[5500] At the end of July, viscose staple fiber and rayon yarn bottomed out, and the price at the end of the year hit the peak of the year. Among rayon yarn, Siro rose by 5500, vortex rose by 5000-5200, and ring spindle rose by 3200-4000; viscose Staple fiber rises by 3070.