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Chemical fibre sector surges in Q2

09
Sep '09
China's chemical fiber industry increased both in price and trade volume in the first half of this year. China's chemical fiber industry totally produced 12.88 million tons of chemical fibers in the first half, an increase of 10.57 percent year on year.

Chemical fiber production in the second quarter of 2009 increased by 24.48 percent compared with the previous quarter, indicating an improvement in demand for chemical fiber industry in the second quarter.

Since 2009, prices of viscose and other chemical fibers have rebounded to some extent, since the steep fall in prices in the fourth quarter of 2008, creating immense losses for fiber manufacturers.

The overall losses of listed companies displayed a declining trend in the second quarter, when compared with the previous quarter. 25 listed companies of the chemical fiber industry realized total operating incomes of 137.1 billion Yuan in the first half of 2009, down 10.60 percent year on year, net profits of 441 million Yuan, down 24.69 percent year on year.

Taking only the second quarter into account, their total revenues reduced 17.34 percent year on year, but increased 29.82 percent from the previous quarter; total net profits also increased year on year and also showed a growth from the previous quarter.

Among the 25 listed companies of the Chemical fiber industry, 12 suffered losses in the first quarter, accounting for 48 percent, while 6 suffered losses in the second quarter, accounting for 24 percent from the overall listed companies.

Fibre2fashion News Desk - China


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