In recent days, the upsurge in price increases in the polyester industry chain has definitely been driven by waves, and each wave is stronger than the last! Crude oil rose, polyester filament rose, and PTA rose successively. On the 28th, the mid-year “big carnival” of the entire polyester industry chain ushered in, with all stocks rising!
The leader in this round of price increases is international crude oil. International crude oil futures, which have been operating at high levels in recent days, have once again surged strongly. As the U.S. State Department issued an import restriction on Iranian crude oil and U.S. crude oil inventories fell far more than expected, the price of New York light futures crude oil hit a new high since November 2014. As of the close on the 27th, U.S. WTI crude oil August futures were at $72.76/barrel, a new high in more than three and a half years; Brent crude oil August futures were at $77.62/barrel.
Under this boost, on the 27th, naphtha rose by US$9.63 to US$642/ton CFR Japan; Asian isomer MX rose by US$27 to US$819.5/ton FOB South Korea . In terms of PX, the price of PX in Asia increased by US$22 to US$964.67/ton FOB South Korea and US$983.67/ton CFR China.
PTA continues to act like a monster, and futures rise again by 2.11 %!
PTA futures, which have not shown much improvement in recent months, suddenly “acted like a monster” and walked out of a big positive line without warning on the 27th. Zheng The main 1809 futures contract of the exchange closed sharply up 3.52% at the end of the day. The rally continued on the 28th, closing at 5,800 yuan/ton. Compared with the settlement price on the previous trading day, it once again increased significantly by 120 yuan/ton, an increase of 2.11%. The spot market has also risen strongly. The quotation in the internal market has risen to around 5840-5940 yuan/ton, while the transaction negotiation has risen to around 5840-5870 yuan/ton.
MEG joins hands to develop Power, reappear the true nature of tsundere!
Boosted by the violent rise in crude oil and the strong rise in PTA, good friends in the ethylene glycol market are also working together to regain their arrogant nature. After magnificently recovering the ground lost 10 days ago on the 27th, the ethylene glycol electronic market pushed up strongly on the 28th. The main contract 1808 closed at 7030 yuan/ton, which was an increase of 58% compared with the settlement price on the previous trading day. Yuan/ton, an increase of 0.83%. The spot market for ethylene glycol has risen along with the trend, with the spot price climbing to around 7050-7150 yuan/ton.
Polyester filament goes up, goes up, goes up! Stock is low, low, low!
Polyester manufacturers are experiencing a surge in price increases due to a series of favorable upstream cost boosts and a surge in production and sales caused by renewed enthusiasm for procurement in the downstream weaving market. It’s even more uninterrupted! After various supplementary increases and market closures on the 27th, on the 28th, there were various price increase messages from polyester factories. On the 28th, the polyester filament market continued its upward trend, and there was room for price increases of 100-200 yuan/ton from mainstream manufacturers.
As the price of polyester yarn continues to rise, the production and sales of polyester market are also advancing by leaps and bounds. The most intuitive thing is that the natural inventory continues to decrease. Judging from the statistics of China Silk City Network, the overall polyester market inventory has dropped to 3-12 days, which is at the lowest level during the year.
Of course, there is another point that cannot be ignored, which is the profitability of polyester manufacturers in the recent stage. It is not difficult to see from the data charts that the recent profits of various polyester filament products have been at a relatively high level during the year.
As mentioned in our previous article, the downstream weaving market is still in a state of low inventory and high production capacity. Coupled with the boost of replenishment at the end of the month, in the short term,�The demand for raw material procurement is bound to be unshakable. With the wave of cost boost in the upstream market, polyester manufacturers’ enthusiasm for price increases continues to be aroused!
The polyester filament market has once again been “labeled” with high profits and low inventory. It is in perfect condition to welcome the traditional textile off-season in July and August. Will the market outlook return again? What about being subverted? </p
