3.89%, 4.11%, 5.02%, 2.79%…
After noon on the 26th, PTA futures continued to advance rapidly, and the price of the main 1909 contract continued to increase. On the 26th, the main contract closed at 5876 yuan/ton, which was consistent with Compared with the settlement price on the previous trading day, it increased significantly by 220 yuan/ton, or 3.89%. The trading continued to strengthen that night, with the main contract closing up 236 yuan/ton, an increase of 4.11%.
The rising trend of PTA futures continued until the 27th. The market opened higher and moved higher. The main contract even hit the daily limit at one time, with an increase of 5.02% and reported at 6026 yuan/ton, a two-month high. Monthly high. As of the close of trading on the 27th, PTA’s main 1909 contract closed at 5,898 yuan/ton, a significant increase of 160 yuan/ton, or 2.79%, compared with the settlement price on the previous trading day.
PTA’s strong operation has caused an uproar in the polyester market, and textile workers’ phone numbers and WeChat Moments have been frequently maxed out.
As expected, on the 27th, polyester The filament market has experienced a wave of “rising voices”, and it has become a common phenomenon that the quotations of mainstream polyester manufacturers have increased by 200-400 yuan/ton.
ExceptforthestrongsurgeinthepricesofpolyesterrawmaterialsPTAandpolyesterfilament,theotherproductsinthepolyesterindustrychainTheyarealsokeepingupwiththepaceofpriceincreasesandmovingforwardhandinhand.However,theriseofthiswaveofpolyesterindustrychainisstillinseparablefromtwokeycharacteristics!
1.PTA’scashflowhasreturnedtoitspeak,reappearingits“kingly”demeanor!
AsearlyasAprilandMay,thePTAmarketwasbooming,andthecashflowonceclimbedto1,350yuan/ton,risingtonearly9monthsWithhighprofitssincethen,itisdefinitelythe“king”inthepolyesterindustrychain.However,asmarketpricesandotherfactorssuppressedit,PTA’scashflowalsoshranksharply.Atfirstyouweretheking,butlateryouthoughtyouwerebronze,butintheendyouwerestilltheking!Nowadays,PTAhasonceagainshownastrongpattern,monopolizingtheprofitsofthepolyesterindustrychainandbecominga”profitpoint”.Itscashflowhasonceagainsurgedtonearly1,200yuan/ton,reappearingasa”king”!
2. After several rounds of high production and sales, the polyester market has ushered in low inventory!
For PTA, the follow-up on the downstream demand side is the key support for continued positive results. Nowadays, the polyester market is in a state of high production and low inventory. For PTA In terms of market conditions, it has great motivation. Since the beginning of this year, the operating rate of the polyester market has been relatively stable, and there has been no large-scale production shutdown for maintenance. This has brought great benefits to the PTA market from the demand side.
Especially in recent times, as long as there is any disturbance in the market, the production and sales of the polyester market will inevitably follow suit, and there will be a wave of high production and sales from time to time. After several rounds of positive stimulus from high production and sales, the inventory of polyester manufacturers has been greatly reduced. Although the mainstream inventory of polyester is still slightly higher than last year, the current market inventory level is almost the lowest since the Spring Festival. According to statistics from the China Silk City Network, the overall inventory of the polyester market has dropped to 10-19 days. In terms of specific products, POY inventory is concentrated at 4-8 days, FDY inventory is around 10-15 days, and DTY inventory is around 10-15 days. It will take about 18-23 days.
In fact, this rapid rise in PTA prices was largely due to the boost from expectations of a better international trade situation. Later, the good news spread to polyester filament and various products in the polyester industry chain; in the final analysis, it is upstream raw materials that dominate The short-term benefits of this wave of gains may still have room to continue to ferment.
For the weaving market, the rising prices of upstream raw materials will more or less lead to a rebound in the market. It is understood that in the recent weaving market, conventional products that have been silent for more than a month, such as polyester taffeta, pongee, Oxford cloth and other products, have seen varying degrees of improvement in market transactions; however, in terms of traded products, the current market There are no hot products, and the overall transaction is still relatively mixed.
Spurred by the favorable raw material market, weaving manufacturers have begun purchasing. According to statistics, the current stocking of raw materials by weaving manufacturers has risen to about 20-30 days, which is an increase from the previous period; follow-up Due to various considerations such as funds and inventory, speculation on stockpiling of raw materials may be reduced accordingly.
Can the terminal market get a “respite” in July? Can the downstream weaving inventory be transmitted well? Can the polyester industry chain “return the king”? All are yet to be verified by the market! </p
