European manufacturers who annually carry out maintenance on the plants try to program it when demand is weak, some had planned to stop the lines in Q1, but given the good pre-summer demand and above all the impossibility of many to obtain import material at competitive prices due to the hight logistical costs, they decided to postpone the postponed annual stop, until they intervened during month.
The reduction in production capacity, with the addition of the shortage of import, has led to unbalance in supply/demand with the consequent increase in prices.
The market has not yet realized that Q4 will be a complex period and above all for the months of September and October the availability of material is extremely limited.
On the important side, freight rates continue to increase with considerable consequences both intermediates such as PTA/PX/MEG, which greatly affect the operational installments of plants located in the Mediterranean.
The price of raw material remains quite stable in recent weeks, textile demand continues to be weak and this could further contribute to boosting unpredictable violatility.