520~520~520~
Another day of upright dog abuse
In the circle of friends, there are various posts about flowers, boyfriends, dinners, transfers…
However, for people in the textile industry
The most heart-wrenching thing was undoubtedly the one I received from a salesperson at a chemical fiber factory.
“Three lines of love letter”——
Dear, do you want to buy raw materials?
Dear, has the price increased again?
Dear, it’s closed and not for sale anymore!
(Note: Weaving manufacturers who have high energy ahead and have not yet stocked up on stock should prepare their own quick-acting Jiuxin Pills)
↓↓
If we don’t engage in “things” on 5.19, how can we still “abuse” on 520?
So who is it in the polyester market that is so “restless”?
Just look at the table below and you will know:
Crude oil: Tenaciously closed up, both breaking the 50 mark!
Oil prices fell by more than 1% on Thursday (May 18) due to the Trump-Russia investigation, but ended up stubbornly rising! Major oil-producing countries said they are willing to join in extending production cuts to reduce the ongoing global supply glut.
On May 19, secondary oil continued to rise. As of 19:00 Beijing time, the international Brent crude oil futures price was US$53.22 per barrel, an increase of US$0.71, or 1.35%. U.S. West Texas Intermediate crude oil futures were at $50.00 a barrel, up 0.65 cents, or 1.32%.
PTA: Smooth road to rebound!
On the 19th, the main PTA futures contract opened at 1709 and soared. It consolidated at a high level in the afternoon, reaching a maximum of 4968, and finally closed at 4964, up 60%, or 1.22%. The focus of spot prices has also risen sharply following the futures, and transaction discussions are concentrated at 4800-4820 yuan/ton for self-delivery.
In addition, from the perspective of supply and demand, during May-June, there were many PTA device overhauls, involving a total device production capacity of 7.15 million tons. The current PTA load has dropped to 66.15%, which is in the destocking channel; starting from this logic, PTA is still relatively strong in resilience.
Ethylene glycol: The price limit has reached the limit again after a disagreement!
This week, the performance of ethylene glycol electronic disk is eye-catching! The daily limit in electronic trading for three days greatly boosted the market atmosphere. Bulls on the market were encouraged and the focus of transactions was repeatedly negotiated. The current highest spot price has risen to around 6,550 yuan/ton.
From a fundamental point of view, due to the recent delivery stage, market demand for spot goods continues to support prices, and some merchants also have short order covering operations, further consolidating the support effect on the demand side. In addition, the performance of related products such as styrene and PTA has also improved. Driven by this, the upward trend of ethylene glycol has been formed.
Both the volume and price of polyester filament are rising, and the inventory is falling!
On the morning of the 19th, crude oil and polyester raw materials PTA and ethylene glycol all showed strong performance, but the overall polyester market in Jiangsu and Zhejiang remained stable. However, stimulated by multiple factors, downstream buyers are enthusiastic about buying. Although there is a certain amount of stocking in the early stage, some textured weaving manufacturers continue to purchase in large quantities.
In the afternoon, some polyester yarn factories raised their quotations or reduced the discount range. Among them, Shenghong Pu increased by 50-100 yuan/ton, Zhangjiagang Xinxin increased by 100 yuan/ton, Southeast New Materials POY and FDY quotations increased by 50 yuan/ton, Shaoxing Jiabao semi-gloss FDY rough denier increased by 50 yuan/ton, and others were Some varieties of light products have increased by 50 yuan/ton, Xiaoshan Shuangtu POY has increased by 50 yuan/ton, Hengyi semi-gloss POY75D, 100D has increased by 50 yuan/ton…
As of 4 p.m., the mainstream polyester yarn manufacturers in Jiangsu and Zhejiang…The average production and sales volume is about 250%, and some POY manufacturers’ production and sales volume is even as high as 400%-500%. Due to the recent hot market transactions, the inventory of polyester manufacturers has also been transferred smoothly. In terms of specific products, the overall inventory of the polyester market has dropped slightly to around 11-28 days; among which, POY inventory has been slightly reduced to 7-13 days, and FDY inventory has been concentrated. to around 11-19 days, while DTY stocks are around 19-29 days.
As for the market outlook, next week’s focus will mainly be on the OPEC meeting on the 25th. It is currently expected that there is a high probability of an extension of the production reduction agreement, and oil prices may be able to benefit again! In addition, the increase in raw material prices in recent days has also caused the profit margin of polyester filament to be repeatedly compressed. Under cost pressure, polyester filament manufacturers are more likely to further increase prices!
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