The 22nd China Hangzhou Chemical Fiber Forum, hosted by CCFGroup, held a high-end roundtable discussion about the future development of the polyester and refining and chemical industry.

The discussion included seven guests from major companies in the industry. Topics included the logic of refineries adjusting ratios, the economic balance of oil products and aromatics, the price difference between PX and naphtha, industrial profit distribution, industry competition and the tight supply of PTA.

It was discussed that refineries need to adjust product structures according to the principle of refinement. It was emphasized that PX does not necessarily drive the production of PTA. During the forum experts forecasted a rise in the operating rate and a fall in stocks in the second quarter due to the low oil product inventories in the United States and China.