2023 Spring Festival holiday schedule of recycled chemical fiber plants

In 2021, recycled plants started the Chinese Lunar New Year holiday late. Jan 31 was the Lunar New Year's Eve, and most plants were shut for holiday around Jan 15 and Jan 25, and a few could last till Jan 27 and 29.

In 2022, Jan 21 is the Lunar New Year's Eve, and plants generally start holiday earlier. We make a survey about holiday schedule of recycled plants (capacity over 2.30 million tons).

Due to feedstock shortage, sluggish demand, high inventory and similar prices of virgin PSF and re-PSF, recycled chemical fiber plants generally shut for Spring Festival holiday earlier this year. A few plants in Zhejiang have suspended operation, and some plants in Wujiang and Jiangyin would start holiday from mid-Dec. Most plants would have holiday during Dec 20 and Dec 31, only a few plants would shut in mid-Jan.

1. In Nov, some plants in Hebei were shut or cut production impacted by the epidemic. Big plants were shut for about one month, and after restart, plants plan to operate till the end year. Some plants are still shut.

2. Plants in Zhejiang started the holiday late last year, while this year, they plan to start earlier. Plants in Xiaoshan and Shaoxing will start around Dec 20, and a few plants in Cixi have shut down. In Guangdong, plants may shut late. New capacity expansion is mostly delayed under the impact of epidemic and weak market.

3. Most plants have not clear restart date after the holiday. There are uncertainties about feedstock, labor and orders. The only confirmed is earlier holiday time this year.

4. HC re-PSF inventory in generally high in Zhejiang and Fujian. For close virgin PSF, plants in Jiangsu show low enthusiasm to operate as virgin PSF and close virgin PSF prices are approaching currently. The holiday time is long, partly reaching 50-60 days.

5. Feedstock supply is tight recently and prices are firm. Plants have low feedstock inventory and with the weak expectation on virgin polyester market, recycled plants are not eager to purchase feedstock currently, and a few plants purchase PET fiber chip. If virgin polyester prices keep down, plants may purchase more PET fiber chip.