A new monthly high, reaching the $34 mark in one fell swoop.
Spurred by crude oil, the polyester market is boiling , the PTA market and the polyester filament market are the most active.
In terms of polyester filament, the price has been rising continuously in recent days, getting rid of the “historically low” label. On the 21st, the price of polyester yarn generally rose by 100-250 yuan. Specifically: the polyester yarn of a major mainstream factory in Tongxiang rose by 100-250 yuan; the polyester yarn of a major mainstream factory in Shengze, Jiangsu rose by 100-200 yuan; and the polyester yarn of Taicang Huaru increased by 200 yuan. -250; Taicang Shenjiu polyester POY rose 100-200; Xiaoshan No. 1 polyester yarn rose 100 more…
POY “takes the lead”, with production and sales exceeding 100 for many days!
Polyester prices have entered a rising channel, and crude oil has stimulated buying sentiment in the downstream weaving market. In recent days, the production and sales of polyester filament have been breaking through. The 50% strange circle ushered in the “three consecutive positive” market conditions. Among them, the performance of POY products is even more eye-catching.
On the 14th, polyester filament POY factory sales in Jiangsu and Zhejiang areas were hot, with some POY production and sales at 150%, 150%, 280%, 300%, and 110%;
On the 15th, the production and sales of some POY in Jiangsu and Zhejiang were at 280%, 100%, 120%, 300%, and 250%;
On the 18th, the production and sales of some POY in Jiangsu and Zhejiang were at 100%, 300%, 100%, and 380%. , 160%;
On the 20th, the transaction atmosphere of polyester yarn in Jiangsu and Zhejiang was hot, with some POY production and sales at 150%, 300%, 120%, and 250%.
The main reason why POY products have taken the lead recently is that texturing companies have taken a fancy to the rising price trend of raw materials and carried out a wave of stockpiling and partial use. Autumn and winter fabrics made of POY have been in good supply recently.
Of course, with the stimulation from all parties, the production and sales of other polyester products are also remarkable. As a result, inventories of polyester products have begun to decline slightly recently. Judging from the statistics of China Silk City Network, the overall inventory of the polyester market is now concentrated at 23-33 days; in terms of specific products, POY inventory is around 15-22 days, FDY inventory is around 16-22 days, and DTY inventory is around 16-22 days. to about 24-34 days. The overall inventory has dropped by about 3 days compared with the previous period.
As bright as the polyester filament market Yes, it is the upstream cost-side PTA market.
In terms of PTA, in recent days, PTA futures and spot market sentiment has revived, and its price is ahead of other chemical products, ending the continuous decline. There has also been a significant increase. As of the close on the 21st, the internal price of PTA was around yuan/ton.
In addition to crude oil giving the PTA market a shot in the arm, unexpected equipment maintenance also boosted the PTA market. It is reported that a 2.2 million-ton PTA unit in East China was shut down for maintenance at around 21:00 on the evening of the 19th. The maintenance is expected to take about 15-20 days. In addition, a 400,000-ton PTA unit in Shanghai has been shut down as planned on May 18, and is scheduled to be inspected for about a month.
On the 20th, the main 2009 contract of Zhengzhou Commercial Exchange PTA futures closed at 3728 yuan/ton, an increase of 108 yuan/ton compared with the previous trading day. The increase was 2.98%.
On the 21st, although the PTA futures market has stamina Not enough, but still maintaining a high of 3,700 points.
Crude oil has boosted the PTA market, and equipment maintenance has also contributed to its direction. In addition, PTA’s own inventory has declined and The demand for downstream polyester has improved, which has also provided a strong assist for the improvement of its market.
Under low load, PTA begins to enter the destocking stage
In addition to the maintenance of the 2.2 million-ton PTA unit in East China and the maintenance of the 400,000-ton PTA unit in Shanghai, the Ningbo Liwan 700,000-ton PTA unit that was previously overhauled on April 30 and the 700,000-ton PTA unit of Hanbang Petrochemical on May 10 have not yet been inspected. Restarting and a large wave of equipment maintenance have resulted in the current PTA load being at a relatively low level. As of the 15th, the PTA load was around 81.2%, which was lower than the load level of the same period last year.
Under low load, the contradiction between PTA supply and demand has been slowly alleviated. At present, PTA has begun to go out of the warehouse. stage. As of the 15th, PTA social inventory was around 2.376 million tons, a significant decrease from the previous period. High inventory at PTA� is one of the important factors that caused its market to decline. Now the inventory pressure has eased slightly compared with the previous period. Even though it is still at a high level, there is still some support.
At present, with the favorable conditions from all parties, the price of PTA has exceeded the 3,700 yuan/ton mark for the first time in a long time. Although the current inventory has declined, overall PTA inventory is still at a high level. At the same time, PTA’s high processing fees have not been fundamentally resolved, and the continued rise in its market is still under pressure. In the later period, the PTA market trend still needs to pay attention to the expected improvement in demand and the digestion of inventory.
The same is true for polyester filament. Although it has been rising for four consecutive days due to the cost support of upstream PTA and the stimulation of crude oil, the terminal clothing market demand is still weak, the recovery of domestic and foreign trade is slow, and there are uncertainties in both crude oil and PTA. The market outlook The market needs to pay attention to the development of multiple parties.
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