The 12th China International Polyester & Intermediates Forum, organized by China Chemical & Fiber Economic Information Network (CCFEI) and Tecnon OrbiChem, is held at 9:00 a.m., 9 Jul, 2015 in Minya Hotel, Shanghai, China, with WITTE PUMPS & TECHNOLOGY and Wenzhou Yufeng Chemical Fiber Machinery as sponsors. Leading players from home and overseas, including BP, CNOOC, CZCE, Far Eastern Industry, Hengli, Hengyi Petrochemical, Honam Petrochemical, Invista, PetroChina, Reliance, Rongsheng, Sabic, Sinopec, Tongkun, Yisheng Petrochemical...etc., are gathering to exchange ideas about the polyester chain.

The morning session of first day starts with Wang Jianli, Deputy General Manager of CCFEI as Chairman, and Lin Jun, Chief Editor of CCFEI & Roger Lee, Managing Director of Tecnon OrbiChem presenting the opening speech.

In the opening speech, they both refers to the aftermath of the world financial woe years ago, which continued to hamper world economic growth in the past 2014, while brings us a handful of new challenges and opportunities. With continuous impact from loose monetary policies, recovering overseas demand, crude oil values hovering at low level and impact from successive black swans, how could players catch up with the world economic situation in H2 2015? How will polyester producers make up their market operation strategies to cope with these changes?

The first speech of morning session is presented by Dr. Li Shigang, Research Institute of Finance, China National Development and Reform Commission. Dr. points out that China’s economy is still under huge downward pressure, but will maintain mid-to-fast growth in mid-to-long term. He also makes analysis on three major forces that is considered to determine future economic trend, and discusses market outlook for H2 2015.

The second speaker, She Jianyue, Chief Economist from CNOOC Petrochemicals Import & Export Co., Ltd., contributes analysis on world crude oil tendency and prospect. Based on rich experience and with unique approach, Mr. She says that shale oil, which is more flexible, will have more fuel contribution to oil availability as well as oil price changes than heavy crude oil. He indicates that that crude oil value may hover within the range of $55-75/bbl during H2 2015.

After the coffee break, R.D.Udeshi, President of Polyester Chain, Reliance Industries Limited talks about Asian PX-PTA dynamics from the aspects of world economy growth, price rebound, textile demand growth, raw material, Asian and India market prospect. His opinion includes that Regain in global economy will drive textile demand growth, price revival will infuse confidence across the chain, advanced and emerging markets to aid demand growth…He also introduces Indian’s attractions to draw invests.

Wang Zongfang from China Zhengzhou Commodity Exchange concludes the morning session with focus on highlights of PTA futures market. She mentions significant meaning of futures pricing to both country and people, and encourages innovations in futures utilization.

The afternoon session starts with Roger Lee, Managing Director of Tecnon OrbiChem as the chairman.

Zhao Cheng, Deputy Manager of Inform Dept., CCFEI presents the speech titled Butterfly Effect of Polyester Feedstock Market, which focuses on polyester raw material markets with review of H1 and outlook for H2 2015. With large spread between MEG and PTA becoming normal, even low inventory could hardly fuel the market. Will a demand surge in April and May deplete the strength in H2? Zhao may help you to find the answers.

Gerald Kriesche, Head of R&D and Product Management, Technip Zimmer brings us a technology-focused topic, introducing to us Zimmer’s solution to achieve higher cost efficiency in recycling, to address the pressure of excess capacity.

After the coffee break, John Runnacles, R&D Director of INVISTA Performance Technologies mentions in his speech INVISTA’s leading edges in PTA production, stressing technology as the key advantage to enhance producers’ competitiveness in energy and cost efficiency.

Jose Luis Cazariego, Senior Technology Director of Grupo Petrotemex (GPT) introduces to us their world presence and their IntegRex? Technology.
Above is the on-spot report for the first day sessions, and there will be more to come tomorrow.