For Chinese polyester staple fiber plants, the cash flow stayed high on the whole in 2018. Overall operating rate before August 2018 was higher than that in the same period of 2017, but affected by the sharp ups and downs it slid in August to October. As a result, the operating rate in 2018 approached 81.8 per cent, which was 2.3 per cent lower than in 2017.

Therefore, production of most old plants in Jiangsu and Zhejiang declined, and those in Fujian was flat last year, while some new or restarted plants saw higher production. In addition, differentiation among polyester staple fiber plants increased. The proportion of polyester staple fiber for spinning showed a downward trend. As a whole, although capacity of virgin polyester staple fiber for spinning improved, consumption declined for the first time in the past five years.

In conclusion, direct-spun polyester staple fiber 1.4D ran well in 2018. Amid booms and slumps, PSF plants cut or suspended production to avoid risks, which not only lowered losses but also paved the way for healthy operation in the fourth quarter. It has become one of the products with quick recovery and the strength to resist a crash.