Another week is about to pass, and before I know it, 2018 has come to the last month. The editor silently glanced at the schedule set at the beginning of the year, took out a pen from his right hand, and silently revised it. ……
What is happening in the textile market this week?
Introduction to the polyester market this week
In terms of PTA, PTA showed a volatile and stable situation this week. The price of 1905, the main force of PTA futures, is basically hovering around 6100 points. It is worth mentioning that on December 13, when there were no obvious changes in other contracts, the PTA1812 contract, which was about to be delivered, rose sharply by 4.3% that day, reaching 6888 points. On December 14, the 1912 contract rose sharply again, exceeding 7100. point. You know, the spot price of PTA is only about 6,600 yuan/ton, which is simply crazy.
The editor speculates that there may be a short-term supply shortage of PTA spot products on the market (pure guessing).
In terms of polyester filament, the weak production and sales of polyester filament this week came with news of production cuts. The editor predicted it two weeks ago. It is said that the polyester factory may reduce production in the future. Now that the news has finally come out, it is time to boast about the editor’s wisdom.
Affected by the news of production cuts, while the prices of PTA and ethylene glycol have fallen, the price of polyester filament has stabilized. It even rose slightly, not much, at 50-100 yuan/ton. However, when the overall polyester industry chain is in decline, the increase in polyester filament yarn is indeed rare. It can be seen that polyester manufacturers are working hard to raise the price of polyester filament.
However, unfortunately, the news of production cuts did not have a substantial impact on polyester manufacturers’ destocking, and the production and sales of polyester filament remained at Around 100%, there was no news of production cuts.
In the weaving market, the Chinese New Year is approaching, and the orders on the market are getting fewer and fewer every day. Now textile companies are basically just filling the orders on hand. Finished, then collected the money and waited for the holiday.
Key events in the polyester market this week
Ethylene glycol futures listed
December 10 On the same day, ethylene glycol futures were listed on the market. They fell by more than 5% that day, and the futures price fell directly lower than the spot price. It’s also surprising.
Ethylene glycol has a reputation for large fluctuations in the past. In the past, if the ethylene glycol electronic market fell by 4%, it would be considered the limit, but now it fell by 5%. , maybe you feel that ethylene glycol futures are not “willful” enough?
Hengli 20 million tons/year refining and chemical integration project input
As a company in Shengze, when it comes to Hengli , the first reaction of Shengze people is basically that they are rich and awesome. No, one project is 20 million tons, worthy of being a Fortune 500 company.
On December 15, Hengli’s 20 million tons/year refining and chemical integration project was officially put into production. Other editors are not very clear about it. , but there is 4.5 million tons of PX production capacity, which is definitely good news for the Chinese polyester industry that requires large amounts of PX imports.
Hengli’s project is only the first step in the complete localization of PX. I believe that as time goes by, PX’s pricing power will gradually be obtained in the future. In the hands of Chinese companies, the short-term surge in raw materials in July and August will be avoided.
Things to pay attention to next
How do polyester manufacturers destock?
There is still time before this year’s Chinese New Year For more than a month, the inventory of polyester manufacturers has exceeded that of the beginning of last year. You know, because there is no one on holiday during the Chinese New YearWhen buying silk, the production capacity of polyester factories will not stop for a while, so the beginning of each year is basically when polyester manufacturers have the largest inventory.
In order to solve this “sky-breaking” inventory, polyester manufacturers are preparing to start reducing production next week. But how effective can production cuts be? It’s still debatable.
International oil price trends
In recent months, the polyester market has continued to weaken, and some institutions have relied on some good news Several waves of incidents occurred. Although the lasting incidents were relatively short-lived, when they used the good news to “make trouble”, the market was indeed stirred up.
After the OPEC meeting, international crude oil seems to have died down, but there has been a lot of good news recently. If there is another disturbance in the crude oil market, the polyester market is likely to rely on this to boost prices. Polyester manufacturers can also sell some yarn and clear inventory. Thinking about it this way, the possibility is quite high.
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