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Insight | Time:Jan 24 2018 3:19PM
What reflects from polyester yarn plants holiday schedule during the Spring Festival
 
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Place Capacity Time for shut down Expected time to restart Holiday reductions compared with last year Inventory of finished productions Inventory of feedstock
Fujian 0.5million spindles 13-Feb 22-Feb 0 Out of supply for two weeks  
0.2million spindles 14-Feb 20-Feb 0    
0.63million spindles 15-Feb 18-Feb -1 0 Able to cover production till end-Jan
0.28million spindles 13-Feb 20-Feb 0 Out of supply Able to cover production till mid-Feb
0.15million spindles 13-Feb Feb 18-19 0 Out of supply for two weeks ---
0.27million spindles 14-Feb 20-Feb 0 Out of supply for two weeks Self-sufficiency
0.1million spindles 15-Feb 21-Feb 0 Out of supply for 20 days Able to cover production till end-Feb
Jiangxi 0.3million spindles 12-Feb 20-Feb 0    
0.4million spindles 12-Feb 21-Feb 0 Some specification out of supply for 2-3 days ----
Hebei 0.1million spindles 10-Feb 25-Feb -7 Out of supply for 2-3 days Normal replenishment
0.24million spindles 9-Feb Feb 24-25 0 Out of supply for 20 days, some specification have to be delivered after the Spring festival Able to cover production till end-Jan
0.03million spindles 10-Feb 25-Feb -7 Out of supply Able to cover production till end-Jan
Zhejiang Vortex-spun yarn 6-Feb 26-Feb 0    
Vortex-spun yarn Around Feb 5 Around Feb 25 --- Slightly out of supply Able to cover production till end-Jan
Jiangsu 0.1million spindles 11-Feb 21-Feb 0 Out of supply for 20 days Able to cover production till end-Jan
0.2million spindles 31-Jan Feb 23-25 0    
0.1million spindles 10-Feb 23-Feb 0 0 Able to cover production till early Mar
Hubei Polyester sewing thread 11-Feb 23-Feb Expected to be 0 Out of supply Contract cargoes


Holidays still reduce year on year
Like in 2017,spinners shut down for holidays in 2018 still for a shorter period of time, although the reduction concentrated not in Fujian and Hubei, but in Hebei. The major drive was good profits. As workers in Hebei are mainly natives and holidays last relatively long, a reduction of the holiday is feasible. While for spinners in South China, a further decline after last year’s adjustment is unreasonable.


Compared with the same period of 2016(Chinese Lunar Year), spot profits in 2017 trended higher by 100-400yuan/mt and seems to keep expanding by end of the Lunar Year. Thus spinners tried their best to lengthen days for production.

Inventory of finished product low
Most spinners are out of supply, thanks to the market surge in early and mid-Jan. what’s more, on entering the new year, spinners in Fujian and Hubei began to lower run rate and will speed up the cut-down by end of the month. Thus it is unlikely that their inventory will climb in the days to come.


Demand for replenishment before the Lunar New Year still exists
As the holiday approaches, most spinners and traders have finished the replenishment of feedstock for the production before the Lunar New Year. For the feedstock for production after the holiday, some have completed the restock while some are still waiting for the right time given high-standing feedstock price.
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