Since the beginning of this year, with the global economic recovery, domestic and foreign textile and apparel demand has increased, driving the demand for polyester, spandex, viscose staple fiber and other chemical fiber raw materials to continue to improve. Against this background, a number of chemical fiber listed companies have reported “good news” in their semi-annual results.
The profitability of polyester chemical fibers has increased significantly
On July 7, private refining and chemical industry Leading company Dongfang Shenghong released its semi-annual performance forecast for 2021, predicting that the net profit attributable to shareholders of listed companies in the first half of this year will be 1.1 billion to 1.2 billion yuan, a year-on-year increase of 1645.02% to 1803.65%. The company stated that during the reporting period, downstream demand in the chemical fiber and petrochemical industry improved significantly, coupled with the impact of rising crude oil prices, the industry entered a recovery cycle and the prosperity increased. The company’s production and operation have further improved and maintained good profitability; Ganghong Fiber’s 200,000-ton differentiated functional chemical fiber project and Zhonglu Technology’s 60,000-ton PET recycled fiber project were completed and put into operation in the second half of last year, increasing year-on-year. Profit contribution.
It is understood that as the company’s main products, polyester POY, polyester FDY and polyester DTY, the industry’s average net profit per ton in the first half of this year was 304.61 yuan/ton respectively. , 155 yuan/ton and 462.53 yuan/ton, the gross profit margin has increased significantly compared with the same period last year.
Also benefiting from the scale effect of large-scale refining and chemical industry, the profitability of polyester civilian yarn, industrial yarn and other chemical fiber products has gradually recovered, and polyester film and degradable plastics, etc. The demand for chemical products is strong. Hengli Petrochemical expects to achieve a net profit attributable to shareholders of listed companies of 8.5 billion yuan in the first half of this year, a year-on-year increase of 54.07%.
Spandex and aramid prices continue to rise
Spandex is the “MSG type” in textiles Fiber has elasticity that is unmatched by other chemical fibers; aramid, carbon fiber, and high-strength and high-modulus polyethylene are known as the world’s three major high-performance fibers and are one of the new materials that my country is focusing on developing. Since last year, spandex and aramid have entered a period of rising prosperity.
On July 8, the domestic quotation of spandex 40D was 73,500 yuan/ton, nearly double the price at the beginning of the year. According to agency monitoring, leading companies Huafeng Chemical, Xinxiang Chemical Fiber, and Taihe New Materials currently have over 90% device operating rates, inventory levels are at historically low levels, and product prices may reach new highs in the third quarter of this year. In terms of new production capacity, Huafeng Chemical has 40,000 tons of new production capacity put into operation in the third quarter; Xinxiang Chemical Fiber’s annual 100,000 tons high-quality spandex (phase one) project was put into operation in the fourth quarter.
On the evening of July 6, Taihe New Materials, a leading domestic spandex and aramid company, announced its performance forecast for the first half of 2021. It is expected to be listed in the first two quarters of this year. The company’s shareholders’ net profit was 400 million to 450 million yuan, a year-on-year increase of 222.45% to 262.76%. The company said that in the first half of 2021, the demand for the company’s spandex products was strong, sales prices continued to rise, sales increased, and profitability increased significantly year-on-year; at the same time, the production and sales of aramid products increased significantly, and profits increased significantly year-on-year.
It is understood that the company’s current effective spandex production capacity is about 50,000 tons/year. September to October is the traditional peak season for spandex. The company is expected to fully benefit from the high spandex boom. cycle. In addition, the company plans to add 4,000 tons/year of meta-aramid fiber production capacity, which is expected to be put into production in the third quarter of this year.
Viscose staple fiber booms and rises
Viscose staple fiber is commonly known as “artificial cotton” “It has also been in an upward cycle of prosperity since last year. The current domestic quotation is 12,700 yuan/ton, a year-on-year increase of more than 50%.
“The viscose staple fiber industry has a certain degree of cyclicality. From 2018 to 2020, due to overcapacity, the viscose staple fiber industry as a whole was in a downward cycle. The epidemic The occurrence of the epidemic has not only greatly alleviated the oversupply problem of viscose staple fiber, but also changed people’s living habits. Taking wet wipes as an example, the demand has been dozens of times higher than before, which continues to increase the demand for spunlace non-woven fabrics. demand. It is expected that the viscose market will continue to fluctuate upward this year.” The person in charge of a listed company that produces viscose staple fiber told reporters.
On July 7, the semi-annual performance forecast disclosed by Sanyou Chemical showed that in the first half of this year, the net profit attributable to shareholders of the listed company is expected to be 1.15 billion. yuan to 1.2 billion yuan, which will turn a loss into a profit compared with the same period last year. The company attributes this to the stable and improving economic situation in the first half of this year, and the sales prices of the company’s leading products viscose staple fiber, soda ash, PVC, and dimethylsiloxane mixed rings have increased significantly year-on-year.
Zhongtai Chemical, another leading domestic viscose staple fiber enterprise, has an annual production capacity of 730,000 tons. The company disclosed in its first quarter report this year that it benefited from poly The volume and price of main products such as vinyl chloride resin, viscose staple fiber, and viscose yarn have increased. In the first half of this year, it is expected to achieve a net profit of 1.63 billion yuan to 1.93 billion yuan, a year-on-year increase of 631.69% to 729.55%.
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