Xinfengming Dushan’s 2.2 million-ton PTA unit was officially put into production, and Hengyi Petrochemical’s refining and chemical project in Brunei was successfully commissioned… Recently, the upstream polyester raw material market has been frequently moved, and as an important part of the downstream market Ring – polyester filament, the market performance is quite dull.
Price: weak adjustment
Profit: squeeze water
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Production and sales: difficult to improve
Inventory: high during the year
…. ..
1. The price fell to the low of the year
When it comes to the prices of various products in the polyester filament market, “low during the year” has once again become synonymous with it!
In the past month or so, the polyester filament market has been undergoing a weak adjustment. The quotations of various products of mainstream manufacturers have continued to fall, and once again hit a new low for the year.
As of early November, the average quotation of FDY150D by mainstream manufacturers in the market has dropped to around 7,250 yuan/ton, the average quotation of POY150D by mainstream manufacturers in the domestic market has dropped to 695 yuan/ton, and the average quotation of DTY150D has fallen back to 8,700 yuan/ton. tons, both are the lowest prices this year.
2. FDY was the first to fall into the quagmire of losses
The saddest scene for polyester manufacturers is that “losses” have once again enveloped the polyester market!
In recent times, the profit margins of polyester manufacturers have shrunk extremely seriously, especially FDY, with some products falling into the quagmire of losses first; while POY and DTY can only maintain slight profits.
Also as of early November, FDY150D was obviously in a loss situation, with a loss range of about 30 yuan/ton; other products also had room for losses to varying degrees. The profit of POY150D shrank to 70 yuan/ton, and the year-on-year profit shrinkage was extremely obvious; in addition, the profit margin of DTY150D also dropped to 120 yuan/ton.
3. Only 4 sales exceeded 100 in a month Times
What I have to mention here must be that the mainstream production and sales of polyester are “plain as water”!
From October to now, in the past month or so, the production and sales of mainstream polyester manufacturers have exceeded 100%, only 4 times. It is reported that the recent mainstream production and sales of the polyester market can only maintain around 60% to 80%; this is not only a large gap compared to September, but the year-on-year gap is even more obvious.
4. Inventory is approaching the high level during the year
Affected by the sluggish production and sales, the mainstream inventory of polyester Approaching the “year high” again!
Since this year, high inventories have been surrounding polyester manufacturers. Inventories that have finally come down recently have become high again. According to statistics from the China Silk City Network, the overall inventory of the polyester market has increased to 16-25 days. In terms of specific products, POY inventory has reached 7-11 days, FDY inventory has reached around 14-19 days, and DTY inventory has reached around 14-19 days. to about 22-27 days.
In the final analysis, in addition to the difficulty in improving the support of upstream raw materials, the “inadequate” demand in the downstream market is definitely the crux.
1. The peak season atmosphere in the domestic market has been weakened
In fact, since this year, the textile industry The overall order performance of the market is mostly tepid and has not improved significantly. Although in mid-to-late October, there was a sudden rise in domestic sales market orders, which once brought sales hot spots, this was only an explosive stage after all, and the overall market was still dominated by “small batches and multiple batches”. It is understood that most textile companies believe that the recent improvement in the market is attributed to the “Double Eleven” e-commerce season orders and the boost of some orders in the spring and summer of next year. However, the overall demand in the domestic market is still weak, and it is difficult to make a substantial improvement. And the price war brought about by peripheral production capacity has also weakened the peak season atmosphere to a certain extent.
2. Foreign trade market orders dropped by nearly 20%
We As you know, the trade relations between China and the United States have been going back and forth since last year, which has had a more or less certain impact on the textile market. Although there have been positive signals from Sino-US trade recently, it does not seem to be a big boost to market orders. Judging from the recent market, due to the overall sluggishness of the foreign trade market, the overall order volume of most textile manufacturers compared with the same period,It has dropped by nearly 20%-40%, and there is a lack of large-volume orders, mostly small orders. Judging from the situation in the past two years, foreign trade orders have basically been shipped during this period, and the delivery time of some products has reached about 20-30 days; but this year, foreign trade orders have basically been shortened to 5-7 days.
The “Golden Nine and Silver Ten” seems to have come to an end, and most people in the textile market are anxious about the textile market in November and December. Whether the market will improve in the future depends on the support of upstream raw materials and the boost of downstream demand. </p
