The market is just a game, it may rise or fall, be happy or sad! After experiencing a period of mildness after the Spring Festival, following the footsteps of gold, silver, and silver, the polyester filament market has entered a “boiling period” due to the cost dynamics detonated by the soaring crude oil in the upstream and the hot market in the downstream weaving market!
Amid many games, the polyester filament market started to rise in mid-March. Channel, whether it is the convening of a supply-side seminar on the polyester market, favorable cost boosts, or stimulation of production and sales, all chemical fiber manufacturers have been stimulated to increase their enthusiasm for price increases. Especially in recent days, driven by the continued strength of international oil prices and the reduction of inventories, the intention of chemical fiber manufacturers to increase prices has become more obvious. The market has seen general price increases from time to time. It is said that some chemical fiber manufacturers even raised prices continuously within one day. Three prices. As of now, the prices of various polyester filament products have generally increased by 6.0%-7.0% in the past month.
1. The surge in crude oil detonated the polyester market
Crude oil, as the source of the polyester industry chain, has always been the focus of market attention; especially in recent years, the crude oil market has been turbulent and soared, which has also provided a strong boost to the polyester market. In particular, the rise in polyester filament prices has provided a strong impetus.
In the early days, as concerns about a trade war between China and the United States eased, the stock market rebounded. International oil prices surged on the 9th, and surged again the next day to a three-year high. Amid subsequent tensions in the Middle East arising from the Syrian issue, WTI futures rose by about 8.6% that week, the largest weekly increase since the end of July last year; ICE trading rose by about 8.2%. Since then, crude oil bulls have remained strong and prices have continued to rise. Earlier last week, Brent crude oil and New York crude oil both hit their highest levels since November 2014, reaching US$74.75 per barrel and US$69.56 per barrel respectively. According to reports, some senior Saudi officials aim for oil prices to reach US$80 per barrel and may advocate maintaining a production cap to achieve this goal; there are even rumors that Saudi Arabia would be happy to see oil prices rise to US$100 per barrel.
II. B Glycol surged by a thousand yuan during the month
With the soaring crude oil market, the overall performance of the polyester raw material market is also relatively strong, especially the ethylene glycol market. In fact, before the surge in crude oil, the market price of ethylene glycol had already risen sharply due to the tightening supply due to the centralized maintenance of equipment in the second quarter; after entering April, the magical ethylene glycol once again started a wave of rockets Since the beginning of the month, the internal price of ethylene glycol has increased by nearly 1,030 yuan/ton. The current price is around 8,350 yuan/ton, an increase of 14.07%.
Compared with the surge in ethylene glycol, the PTA market has been relatively calm. Especially in the spot market, although the crude oil market has performed strongly, which has had a good boosting effect on the PTA market; however, in the past month, the PTA spot market has mostly shown a consolidation pattern, with the internal price fluctuating around the range of 5,400-5,600 yuan/ton. , there are no major ups and downs. In terms of futures, PTA futures as a whole are also in a volatile adjustment situation; as of April 24, the main 1809 contract of Zhengzhou Commercial Exchange PTA closed at 5,616 yuan/ton, with trading volume reaching 472,830 lots and open interest reaching 1,052,372 lots.
3. The downstream weaving market continues to heat up
The downstream weaving market has generally performed well in the past two years. Since March this year, the weaving market has continued to heat up. What textile bosses talk about the most is “the white fabric cannot be adjusted,” “the price has increased again,” “the dyeing factory has been liquidated,” and so on. According to the survey, almost all types of fabrics are easy to sell in the weaving market, especially the “bad fabrics” recognized by industry insiders in the past few years, such as polyester taffeta, pongee, lightweight fabrics, etc., which have become “hard to find”. “Weaving manufacturers are queuing up to get regular products, which has caused the gray fabric market inventory to drop to the lowest level in recent years.
The hot market in the downstream weaving market has also further expanded the procurement demand for the raw material market, coupled with the influence of some manufacturers’ mentality of buying up rather than buying down and increased enthusiasm for stocking up. , the downstream market has been highly motivated to purchase polyester filament in the recent stage, and the mainstream production and sales of the polyester market have also increased significantly.
So the question is? Polyester filamentAfter the market has been “boiling” for nearly a month, along with the slowdown in the growth of upstream polyester raw materials and the slowdown in downstream weaving demand, does it mean that the focus of polyester prices will face a test?
It is reported that on the 24th, the polyester filament supply side held another seminar. Mainstream polyester manufacturers are full of confidence in the market outlook, especially the improvement brought by low inventory of FDY and POY manufacturers. Vibration force, it is understood that POY inventory has dropped to 3-7 days, and FDY inventory has dropped to around 3-8 days. Coupled with the market’s trust in the cost support of upstream raw materials, it is expected that the polyester filament market is less likely to fall in the short term, and it is not ruled out that there may be further increases under the positive boost! </p
