China Polyester Production Slumps to 2-3% Capacity Amid Weak Market Demand on May 14

On May 14, polyester downstream producers in China’s Zhejiang region reported significantly weakened production and sales activity. Polyester filament (POY) capacity utilization dropped to 2–3%, while polyester short fiber average production reached 79%, reflecting marked demand softness across multiple facilities.

In the raw materials market, crude oil futures fell on May 13, with WTI down $1.16 to $101.02/bbl and Brent crude off $2.14 to $105.63/bbl. PX prices declined $17 to $1,182–$1,203/ton FOB, while PTA futures traded lower with spot basis weakening. In separate developments, a 600,000-ton/year ethylene glycol synthesis unit in Shaanxi began scheduled maintenance on May 13 for approximately 18 days, and a Wankai polyester bottle chip facility in Chongqing cut June production by 10% due to reduced natural gas supply.