Inventory·The most valuable hot spots of the week
There is no shortage of new things this week. The polyester factory had a big promotion this week, the Saudi oil refinery was bombed, textile and clothing exports had a good start in the first quarter, and the BCI official website removed the “Boycott Xinjiang Cotton” statement… which has brought a lot of impact to the textile market.
Next, let’s take a look at what’s new this week.
Polyester factory promotion
Polyester filament, which has been silent for a long time, finally broke out on the 12th. Production and sales have risen sharply, with some companies’ production and sales reaching 300%, 400%, 600%, 750%, or even 1,000%. The mainstream production and sales of factories are 582%, an increase of 550.3% from the previous trading day. Downstream weaving companies are highly motivated to purchase, and polyester factories have achieved remarkable results in destocking. As of last Thursday, POY factory inventories were generally around 18-25 days; FDY factory inventories were mostly around 20.26 days; DTY inventories were generally around 29.35 days. On the 12th, the production and sales volume of some large polyester filament manufacturers was relatively high. It took 10 days to go to the warehouse, and most of them took 3-6 days to go to the warehouse. The main warehouses were POY.
The editor has something to say: The motive of polyester factory promotions is to clear inventory. From the perspective of production and sales performance, the strategy of clearing inventory is very successful, so the price is reduced again. may no longer exist in a short time.
Saudi oil refinery was bombed
On April 12, the Houthi armed forces in Yemen passed The Masira TV station controlled by it announced that the Houthi armed forces launched 17 drones into Saudi Arabia that day, 10 of which targeted Saudi Aramco’s oil facilities in Jubail and Jeddah. Saudi Arabia has yet to respond to this.
Affected by this news, Brent crude oil futures stood at US$64.4/barrel, WTI crude oil futures stood at US$59.76/barrel, international oil prices rose sharply!
The editor has something to say: The oil refinery was bombed, leading to an increase in international oil prices, which will also have a certain impact on upstream textile raw materials, and an increase in raw material prices is inevitable.
Textile and clothing exports got off to a good start in the first quarter
According to the recent statistical news from the General Administration of Customs, In the first quarter of this year, national textile and apparel exports reached US$65.1 billion, a year-on-year increase of 44% (a year-on-year increase of 34% in RMB), which was 5.3 percentage points lower than the growth rate of national goods export trade. Compared with the first quarter of 2019 (pre-epidemic level), exports The amount increased by 15.6%. Among them, textile exports were US$31.81 billion, a year-on-year increase of 40.3% (a year-on-year increase of 30.6% in RMB); clothing exports were US$33.30 billion, a year-on-year increase of 47.7% (a year-on-year increase of 37.5% in RMB).
The editor has something to say: The growth in textile and clothing exports can show that although the foreign epidemic has not yet been fully controlled, market demand has increased compared with the previous two years. Much bigger.
BCI official website removes “Boycott Xinjiang Cotton” statement
Since the H&M boycott of Xinjiang cotton broke out on March 24, things have now ushered in key progress.
According to the latest report from Global Network, on April 15, China Global Television Network (CGTN) announced a message on its official Weibo: Swiss Better Cotton Development Association (BCI) has removed the statement on “Boycott Xinjiang Cotton” from its official website.
The editor has something to say: Those brands that care about taking sides rarely end well. On the contrary, my country’s entire textile industry has been almost unaffected, and some transactions are still going on normally.
Market review
Polyester: PTA prices fluctuated steadily this week. As international oil prices continued to rise this week, the cost fluctuations of PTA and ethylene glycol eased, and at the same time, downstream raw material factories increased their sales volume, and PTA prices rose slightly. At present, the PTA internal market transaction discussions are around 4500-4580 yuan/ton.
In terms of polyester filament, the price of polyester filament fell first and then rose this week. As of Thursday, the quotation of FDY 75D/48F mainstream manufacturers fell to 8200-8300. Around 9300-9400 yuan/ton, while the quotation of FDY 50D/24F products fell to around 9300-9400 yuan/ton.
In terms of profit, PX suffered a larger loss this week It narrowed slightly last week, and its loss space has now narrowed to US$116/ton. As for PTA, it is still losing money this week, and its current loss is around 120 yuan/ton. In terms of ethylene glycol, profits have continued to remain profitable this week, with profits currently shrinking to US$45/ton. In terms of polyester filament, the price of polyester filament fell first and then rose this week, but the cost fluctuated and the profit increased slightly; FDY profit increased to 622 yuan/ton; POY 150D profit increased, and the current profit is 874 yuan/ton; DTY 150D profit margin increased slightly Small, the current profit is 617 yuan/ton.
In terms of operating rate, the average weekly operating rate of PTA this week is concentrated at 65.5%, which is lower than last week 4%; real-time operating rate is 64.4%, real-time effective operating rate70.8%. In terms of polyester, the average load of polyester this week was concentrated at 94.4%, an increase of 0.6% from last week. In terms of weaving, the recent operating rate of weaving manufacturers has stabilized at around 77%.
In terms of production and sales, the performance of polyester production and sales this week Good. The polyester factory had a big sale on Monday. The average production and sales of polyester yarn exceeded 500%. After that, the production and sales dropped significantly, with the average production and sales at 30-50%.
In terms of inventory, statistics from China Silk Capital Network According to the data, the overall inventory of the polyester market is now concentrated at 15-25 days; in terms of specific products, POY inventory is around 7-13 days, FDY inventory is around 13-20 days, and DTY inventory is around 12-25 days .
Weaving: From the Shengze Index of the Ministry of Commerce, it can be seen that the transaction atmosphere of the textile market is average in the recent stage. , raw material prices began to stabilize after a wave of price reduction promotions. Due to the high cost of raw materials, weaving manufacturers are generally not willing to cut prices. At present, the overall price of fabrics has not changed much and is mainly stable. The sales of fabrics are the same as in the previous period. Except for imitation silk, elastic fabrics, etc., there is a lack of hot-selling products. Due to the decrease in terminal orders, manufacturers’ operating rates have also slowed down. The operating rate in Shengze has stabilized at around 80%. At the same time, due to the slowdown in market shipments, the overall gray fabric inventory has slowly rebounded to around 39 days.
Printing and dyeing:
The printing and dyeing market is relatively active this week. As the impact of the Tomb Sweeping Day holiday gradually subsides, the amount of gray fabrics received by printing and dyeing factories has begun to recover steadily compared with last week. Some printing and dyeing factories with busy production have The level of crowding deepened.
In some dyeing factories, the pressing time exceeds 15 days.
Due to the rebound in incoming warehouses, the operating rate of printing and dyeing factories has gradually rebounded from 85% to about 87% this week. However, there are still some printing and dyeing factories that lack There is no work to do for the order. In addition, the number of orders has increased, queues have appeared, and the overall delivery time has been extended again. It is currently stable at about 15 days, and some exceed 30 days.
Outlook
Four Half of the month has passed. Generally speaking, the current market situation is not very optimistic, but as market demand gradually recovers, there may be a wave of orders…
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