According to the China Chemical Fiber Industry Association, the nation’s production of manmade fibers during the first two months of this year decreased by 13.6% year-on-year to 7,272,300 tons.
As a result of the coronavirus pandemic, the slow restart of plant operations in the midstream sector, etc. had an impact on MMF production. Spandex was the only item posting a production increase, thanks to the sharp increase in demand for masks, for which spandex is used for the elastic cords.
By item, polyester fell 11.9% to 5,588,900 tons, along with nylon by 27.1% to 508,600 tons, and rayon staple fiber by 33.7% to 448,300 tons. Spandex rose by 4.2% to 122,300 tons.
MMF exports during January-February 2020 fell 12.3% year-on-year to 638,800 tons: polyester staple fiber, 109,900 tons (down 24.1%); polyester filament, 366,900 tons (down 14.1%); nylon filament, 39,800 tons (down 4.4%); rayon filament, 15,600 tons (up 20.4%); and spandex, 12,600 tons (up 9.7%).
The sales of Chinese MMF producers larger than a certain scale declined by 28.4% during January-February 2020 year-on-year to 83.6 billion yuan. Pretax profits dropped 74.8% to 397 million yuan. The sales margin was 0.5%. The amount of losses of enterprises in the red increased by 39.5%.
