Factory quotation promotion on August 20, callback 100-450
Tongxiang direction
A major polyester manufacturer in Tongxiang Silk sales are 400-450; another major Tongxiang factory’s polyester sales are reduced by 350-450;
Jiangsu direction
Polyester yarn POY of a factory in Taicang is lowered; polyester yarn of a factory in Taicang is lowered by 150-400; polyester yarn of a factory in Jiangsu is lowered by 300; FDY of a factory in Zhangjiagang is lowered ; A factory in Wuxi has an FDY discount of 200-300; a major major polyester yarn manufacturer in Shengze, Jiangsu has a one-day discount;
Shaoxing direction
A major mainstream factory in Shaoxing has a FDY promotion of 400-450; a factory in Shaoxing has lowered its price of polyester yarn by 200-300; another major factory in Shaoxing has a polyester yarn price reduction of 200-300; Silk price is lowered by 150-200; FDY of a major factory in Shaoxing is lowered by 100-200;
Xiaoshan direction
A factory in Xiaoshan lowered its polyester yarn quotation by 100-150 yuan; a major major factory in Zhejiang lowered its polyester yarn price by 250-450 yuan; a major major factory in Xiaoshan lowered its polyester yarn sales promotion; another major factory in Xiaoshan lowered its polyester yarn quotation; The factory polyester yarn is reduced by 100; the POY of Xiaoshan No. 1 factory is reduced by 300, the FDY is reduced by 100, and the DTY is reduced by 100; the polyester yarn of another large factory in Zhejiang is reduced by 100-250;
Fujian direction
A factory in Fujian lowered the price of polyester yarn by 100-200; the price of polyester yarn from another factory in Fujian was stable; The polyester yarn of a factory in Fujian reported stable;
Global risk assets had another bleak start in August, with crude oil falling deeply, chemical products “taking a big plunge”, and the global risk aversion cloud still hanging over the world.
As the king of commodities, fluctuations in crude oil prices are bound to affect the price trends of chemicals. The deep fall in international crude oil prices has also dragged down the prices of downstream chemical products. Crude oil and the epidemic have become key changes that determine the market.
Crude oil has fallen for the sixth consecutive time, will it fall below 60 soon?
The Federal Reserve may reduce the scale of its bond purchases during the year. The U.S. dollar hit a nine-and-a-half-month high. Coupled with the continued drag on demand expectations due to the global epidemic, international oil prices continued to decline for 6 consecutive months. It fell for a trading day, its longest losing streak in 18 months.
WTI September crude oil futures closed down 2.70%, the largest one-day drop since August 2, at $63.69 per barrel. Brent crude oil futures for October closed down 2.61% at $66.45 per barrel.
Polyester prices are greatly reduced, falling by 200-500!
The upstream crude oil market for polyester yarns fluctuated downwards, and the cost-end support was weak. Since July, the production and sales of polyester yarns have continued to be poor, and the profits of various polyester yarn products have been compressed. Although there are Price reduction promotion, but no one buys it.
With the continuous decline in polyester yarn prices, major polyester yarn manufacturers have jointly reduced production in order to protect prices, but even if they reduce production, everyone Still not buying it, the polyester market is still weak, some quotations have been lowered, and the overall market production and sales are indifferent.
From the perspective of polyester yarn itself, Tongkun, Xinfengming, Hengyi and Tiansheng each plan to reduce production by 20%, with a total production reduction of 4 million tons per year. Mainly varieties with high losses and high inventories. Currently, Tiansheng has reduced production by 340,000 tons, Tongkun has reduced production by 720,000 tons, and Gutowpath has reduced production by 200,000 tons. Hengyi and Xinfengming are yet to be determined. If production is reduced as planned, The start-up of polyester yarn will drop by about 9%, but the overall inventory of polyester yarn is high. Now the inventory is concentrated in 18-28 days, and the inventory pressure is high.
In terms of price, the price of PTA has fluctuated downwards since the beginning of August, and the other main raw material, ethylene glycol, first rose and then fell. As of August 18, the theoretical cost of polymerization was calculated at 6,131 yuan/ton, which was 450 yuan/ton lower than the cost of 6,581 yuan/ton on August 2, a decrease of -6.84%. The prices of various polyester products were also reduced by 250-350 yuan. between.
From the perspective of downstream demand, due to the impact of skyrocketing sea freight, global epidemic virus mutations, and trade frictions, there are not many orders at home and abroad. The operating rate of textile companies has increased from 78.93 to 78.93. % dropped to 74.92%, the demand for polyester yarn decreased, and production and sales were lukewarm. Since the beginning of August, polyester production and sales have mostly remained at 50% except for the promotional volume on August 13, which was 150%, which was surprising. </p
