Low polyester demand hurting feedstock margins

Currently, polyester and its feedstocks are in oversupply, according to the latest analyses of paraxylenes, terephthalates, and polyester from Chemical Market Associates Inc. (CMAI), Houston.And while boding ill for profits or reinvestment, says the firm, those who can sustain their businesses through the challenging period ahead will likely see profits rise again once the need for polyester and its feedstocks improves.CMAI sees 1999 as the "bottoming-out" period for the polyester market, with no substantial improvements occurring until 2000-01. Paraxylene and terephthalates markets, on the heels of polyester recovery, will overcome hard times by 2002.Feedstock outlook"Over the last 5 yea...

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