Polyester Filament Earnings Exceed Expectations

1. event: the textile industry has entered seasonal.

2. our analysis and judgement: (1)

(two) the FDY performance in the first half of the year was weaker than that in the first half of the year, which was less concentrated in the second half of the year. In 2010, the production capacity of the new polyester filament was about 1 million 450 thousand tons, which was about 7.6% tons higher than that at the end of 2009, and the capacity of the 19 million tons increased by about 7.6%. In 2011, the new polyester filament production capacity was about 2 million 900 thousand tons, compared with the 2010 capacity growth of about 14%, but still lower than the average growth rate of downstream demand in recent years.

In the first half of this year, FDY accounted for the majority of the new capacity, and the FDY performance was weak in the first half of the year, due to the short time concentration of production capacity. In the second half of the year, the demand season for FDY entered into the peak season, and in the second half of the year, the new production capacity was reduced. FDY had ushered in a long boom.

Silk direction pfer, which is decentralized