BOOM! With a loud noise, the polyester industrial yarn market exploded!

Event: At 13:25 pm on November 22, the Jiaxing Fire Brigade Haining Branch Command Center received an alarm: the boiler of Hailide New Materials Co., Ltd., Maqiao Street, Haining City exploded, killing 5 people. Two of the seriously injured people were rushed to the hospital and died after rescue efforts failed. The other three people are undergoing inpatient treatment in the hospital. After diagnosis and treatment, their lives are no longer in danger.
As soon as the news came out, Hailide’s stock plummeted on the afternoon of the 22nd! In order to avoid abnormal fluctuations in stock prices, Hailide will suspend trading from the 23rd.
Hailide said that after preliminary investigation, during the construction of the boiler desulfurization and denitrification project contracted by the company to a qualified engineering company, a fire broke out at the construction site, causing the thermal oil pipe to rupture and burn. The impact of this accident on the company’s production and operations is uncertain.

As a well-known leading industrial yarn company in China, its industrial yarn production capacity reaches 190,000 tons, and its automotive yarn products are in a leading position at home and abroad. The impact of this explosion accident on Hailide and the entire industrial yarn market cannot be underestimated.
The explosion of Hailide has broken the dull atmosphere of industrial yarn, and most manufacturers have raised their prices.
On the afternoon of the 22nd, the price of Zhejiang ancient towpath industrial yarn products was increased by 200 yuan/ton;
On the 23rd, the ancient towpath industrial yarn increased again by 200 yuan/ton;
Hengli industrial yarn price rose by 500 yuan/ton;
Hangzhou Huachun industrial yarn generally rose by 400 yuan/ton.
Since October, the price of industrial yarn has been rising steadily driven by costs. However, compared with the wave of price increases of polyester consumer yarn, the increase in industrial yarn is a bit gentle. Stimulated by this unexpected incident, industrial yarn has experienced a long-awaited surge.
Generally speaking, the market for polyester industrial yarn is relatively stable this year, and ups and downs are rare. From the financial reports of several major domestic manufacturers, it is not difficult to find that the profits of industrial yarn manufacturers have increased to varying degrees this year. Taking the financial reports of Youf and Hailide as an example, in the first three quarters, Youf’s operating income was 1.631 billion yuan, an increase of 145 million yuan year-on-year, an increase of 9.75%; in the first three quarters, Youf’s net profit reached 151 million yuan, an increase of 0.2% year-on-year. billion, an increase of 21%. Hailide’s operating income in the first three quarters was 1.88 billion yuan, a year-on-year increase of 296 million yuan, or 18.69%; net profit reached 232 million yuan, a year-on-year increase of 52 million yuan, or 36.61%. From the financial reports of these two companies, it is not difficult to find that although the overall price of industrial yarn has been stable this year, the industrial yarn market is gradually picking up.

The impact of the Hailide explosion on Hailide itself is currently incalculable, but it has become an opportunity for price increases for the entire industrial yarn market. Recently, the price of polyester raw materials, whether PTA or MEG, has increased significantly, and industrial yarns are also facing greater cost pressure. Manufacturers have always wanted to increase but cannot. The Hailide accident gave industrial yarn manufacturers a legitimate reason to increase prices, and the price of industrial yarns successfully increased by 400-500 yuan/ton.
Although the price of industrial yarn has increased this time and manufacturers’ profits have also improved, the price increase based on the accident should not be what everyone wants. Today’s market situation is still severe, and manufacturers are still under great pressure to operate. However, no matter how great the pressure is, no matter how difficult it is to operate, if there are flaws in production safety, all the hard work may be in vain.
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