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The 7th China International Polyester & Intermediates Forum, supported by China Chemical Fiber Association (CCFA) and China National Chemical Fibre Corp., organized by China Chemical & Fiber Economic Information Network (CCFEI) and Tecnon OrbiChem, is held at 9:00 a.m., November 4th, 2010 in Shanghai, China. Leading players from home and overseas, including BP, CSPC, Far Eastern Industry, Hengyi Petrochemical, Jiangsu Hengli, MEGlobal, PetroChina, Sinopec, Zhejiang Rongsheng, Zhejiang Tongkun...etc., are gathering to exchange ideas about the polyester chain.
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Zhu Boliang, General Manager of CCFEI is the conference chairman of the morning session, and Lv Haoda, Deputy GM of China National Chemical Fiber Corp. (CNCFC) presented the opening speech, referring to focuses of the conference, including status quo of the polyester chain and market rules, as well as macro economic factors including the twelfth five-year plan and RMB exchange rate.
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Zhao Jinping, Deputy Director-General and Senior Research Officer of Foreign Trade Research Institute of the State Council gave the first speech, which gave analysis on world economic environment and perspective on Chinese economy, against the backdrop of current macroeconomic environment complicated by fast GDP growth of China, strengthening efforts of estate tax reform and government¡¯s call for low-carbon and low emission, as well as the growing role of polyester in financial territory.
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Colin Purvis, Director General of European Man-made Fibres Association (CIRFS), presented a speech focusing on the textile trading partnership between China and Europe. With perspective on the future of China¡¯s textile export, he listed some polyester products which may meet with ADD and ASD in the future, giving an overall picture of the world textile market.
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After the coffee break, Duan Xiaoping, the chairman of CCFA, gave detailed description about the strategy for China¡¯s chemical fiber industry during the twelfth five-year plan, with new changes and characters during this period.
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Ringo Leung, Asia Commercial Director of MEGlobal Asia Limited gave perspective on the market future of MEG. According to Mr. Leung, the believed capacity surplus did not necessarily mean that the market was oversupplied, for delayed commission of new capacities in 2011 and remarkable growth in downstream polyester capacity will leave much room for demand increase. On the other hand, uncertainties in domestic spot market and international MEG trading will continue to pose challenges to market balance.
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The PET Packaging Resin industry has been hit by restricted exports and rising costs. Fast-growing new capacities in the Middle East as well RMB appreciation are also casting shadows on the industry. Against such a backdrop, Francesco Zanchi, CEO of Global Service International, gave both review and perspective on global PET packaging resin market.
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During the afternoon session, firstly Roger C Lawrence and Julian S Gray from Davy Process Technology Limited introduced their cost-efficient PTA technology¡ªCOMPRESSTM, which could largely reduce production costs with least technology risk.
Feng Pingcang, General Manager of Beijing Retsch Topway Technology gave a presentation with the topic Latest Development of Dispersing Process of the TiO2/SiO2 in Polyester Production, and Grinding Equipments
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During 2010 polyester filament yarns have been lucrative thanks to favourable economic factors and firm demand. However, given the fast expansion of capacities looming in the next two years, will the growth of demand still sufficient to counterbalance the capacity increase? Addressing to above question, Shou Baichun, General Manager of Zhejiang Rongsheng Chemical Fiber gave perspective on polyester filament yarn industry in near future.
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Above is the on-spot report for the first day sessions, and there will be more to come tomorrow.
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