It’s February, the Chinese New Year is getting closer, and most of the weaving companies have also entered the holiday period. At this time, polyester long The price of silk suddenly rose sharply, which caught people off guard.
Today the quotation of polyester yarn from a large factory in Tongxiang was raised by 150-200 yuan;
The quotation of polyester yarn from another large factory in Tongxiang was raised by 150-250 yuan today; o:p>
The price of polyester yarn from a factory in Xiaoshan increased by 100 yuan today;
The price of polyester yarn from another POY factory in Xiaoshan increased by 100-150 yuan today;
The price of polyester yarn from a factory in Yixing increased by 100-150 yuan today; The price is increased by 150-200 yuan;
A FDY factory in Shaoxing raised the price of polyester yarn by 100 yuan today
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Crude oil prices rise, and polyester raw materials follow suit
As OPEC+ maintained a high implementation rate of production cuts in December 2020 and OPEC production growth in January was smaller than expected, international crude oil futures prices fluctuated strongly on the 1st and closed significantly higher.
As of the close of the day, the price of light crude oil futures for March delivery on the New York Mercantile Exchange rose by $1.35, or 2.59%, to close at $53.55 per barrel. ; London Brent crude oil futures for April delivery rose $1.31, or 2.38%, to close at $56.35 a barrel.
Driven by the rise in international oil prices, the prices of polyester raw materials PTA and ethylene glycol continue to rise.
In terms of PTA futures, after a 100-point surge on February 1, PTA futures continued to rise on February 2. As of the close of February 2, the price of PTA futures 2105 closed at 4148 points, up 52 points or 1.27% from the previous trading day.
Ethylene glycol futures, as of February 2 At the close of the day, the price of ethylene glycol futures 2105 closed at 4761 points, an increase of 86 points or 1.84% from the previous trading day.
PTA and ethylene glycol both experienced sharp increases. It makes sense that polyester filament prices are rising.
After the early promotion, the polyester factory “packed lightly”
In late January, as weaving companies went on holiday one after another, textile companies were less enthusiastic about purchasing raw materials, and polyester factory inventories continued to rise. In order to alleviate this situation, some polyester factories have launched a price reduction promotion model, which has encouraged some textile companies to spend money to “buy, buy, buy”, but at the same time, it has also lowered the price of raw materials.
At present, the inventory of polyester factories has returned to a relatively good situation after the previous wave of promotions. At the same time, there is generally a motive to increase the price of polyester filament. Now, the price of upstream raw materials has increased. Yes, the polyester yarn is not rising now, when will it be more?
The positive news is superimposed, and the market is generally bullish on polyester yarn
The textile market in 2020 is a process of recovery after being hit by the epidemic. The price changes of polyester yarns also basically follow this pattern: they have continued to rise since the beginning of the year. It fell to the bottom in April, then experienced several shocks, and finally rebounded sharply at the end of the year.
As the new crown vaccine begins to be continuously vaccinated in European and American countries , foreign markets are expected to recover, and textile orders in the market will increase significantly after October.
In addition, there is recent good news that the United States may suspend its tariffs on China:
According to Reuters news from Washington, on January 29, local time, the U.S. government will re-evaluate previous national security measures, including the first phase of the China-U.S. economic and trade agreement.
The report quoted U.S. government sources as saying that the implementation of U.S. tariffs on $370 billion in Chinese goods will be suspended during the review period until a comprehensive review is completed. The United States will decide what changes to make after figuring out the best way to unite with other countries to deal with China.
These good news are superimposed on each other, making the prospects of the textile market in 2021 brighter. Therefore, it is not surprising that the market is bullish on polyester prices.
Editor’s note:
Although crude oil prices are difficult to predict in the short term, in the future under the general environment of popularization of COVID-19 vaccines and international economic recovery, the recovery of global textile demand will be a high probability event. Therefore, during the period before the Chinese New Year, polyester prices will become very sensitive, and can even be described as “prices will rise at the slightest sign of trouble.”
For textile companies, on the one hand, some companies have prepared sufficient raw materials, and the increase in polyester prices will do more good than harm to them; on the other hand, , now that companies are basically on holiday, it is not convenient to buy raw materials, so the possibility of buying large quantities of silk in the short term is not very high.
However, in any case, the price increase of raw materials and dyes are real. Maybe after returning from the Chinese New Year, the price of fabrics will increase.It’s not the price it is now.
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