On June 23, a factory in Zhejiang ProvinceThe quotation price of polyester filament was reduced by 200-300, with semi-gloss POY75/36 quoted at 8850, semi-gloss FDY30D/24F quoted at 12350, and glossy FDY50/36 triangle Report 10600；
Tongxiang No.1 FactoryThe price of polyester filament is reduced to 400, semi-glossPOY75D/36F Reported9410,75D/72F reported9460,Semi-glossyPOY75D/36FPaper9410,75D/72Freports9460,DTY75D/36Flow bullet report span>11410, 75D/72FQingwangbao11610 ;
JiangsuA polyester factoryThe price is reduced by 400, semi-glossyPOY75D/36F span>Reported9310、75D/72FReported9360、150D/144FReported8960、150D/288F Report9010. （Unit: yuan/tons)
The price of polyester filament has suffered a setback mainly due to two reasons.
Crude oil prices continue to fall
On June22 local time, international oil prices fell significantly. As of the close of the day, the price of light crude oil futures for August delivery on the New York Mercantile Exchange fell by $3.33. It closed at 106.19US dollars per barrel, a decrease of 3.04%; 8 span>The price of London Brent crude oil futures for monthly delivery fell2.91 US dollars to close at 111.74 per barrel USD, down 2.54%.
The price of crude oil exceeding 120 some time ago was originally a deformity caused by the flow of funds to commodities under economic downturn conditions. Now that the Federal Reserve has raised interest rates, global liquidity has With the flow towards the U.S. dollar, less money is spent on commodities, and as the enthusiasm subsides, prices will naturally go down. Crude oil is the most basic raw material in the polyester industry chain. The price of crude oil has fallen, which naturally drives the price of polyester yarn down.
Dipolyester stocks continue to accumulate
In the past two years, the price of polyester yarn has experienced sharp fluctuations, which has made many weaving companies afraid to stock up on large quantities for fear of spending a lot of money on raw materials. Especially in the first half of this year, affected by various factors such as the impact of the domestic epidemic, competition in Vietnam’s production capacity, and shrinking foreign demand, the number of orders received dropped significantly, but because we did not want to be weighed down by inventory, we chose to reduce the start-up rate.
Downstream weaving companies do not start up and are unwilling to buy silk. Naturally, the production and sales of polyester will not look good. According to data monitoring from China Silk City Network, since 6month On June 6 as crude oil exceeded 120 US dollars, polyester prices surged, leading to a wave of production and sales. After a wave of production and sales, most of polyester production and sales were 2-3 becomes wandering.
No one is buying silk anymore, so the inventory of polyester factories naturally begins to accumulate.
It is understood that the inventory of polyester factories ranges from half a month to a month, and as much as two months. Moreover, there are not many downstream buyers. Manufacturers with large inventories will lower their prices if they want to reduce inventory. If there is little inventory, The manufacturers can only follow the decline.
However, the downstream always buys up and not down. It is expected that raw materials will rise, and weaving companies may prepare more raw materials because they are afraid of affecting costs; anticipating that the price of raw materials will fall in the future, they still buy a bunch of silk and pile it in the warehouse. Waiting for it to depreciate is something most people won’t do.
Therefore, it can be expected that the price of raw materials has become lower, which will make it difficult to drive the production and sales of polyester yarn, but will make downstream people even less willing to buy it. The lower the price falls, the less willing downstream are to buy.
Textile companies are also having a hard time
For weaving enterprises, although the price increase of raw materials is more difficult, the price reduction of raw materials is not good news either. It is almost July 7, and the market has begun to slump. The orders that can still be received are often from traders stocking up for the autumn and winter fabric market in the second half of the year. However, the drop in raw material prices may This dampens their enthusiasm for stocking up and makes them adopt a more wait-and-see attitude.
In this year’s bad market environment, weaving companies have been very busy. There are not many orders on hand, and their own profits have been severely squeezed. A slight fluctuation in raw material costs may make the originally profitable orders Become a loss. The price of raw materials has dropped, and traders are waiting and watching. The inventory is accumulating, and the cloth in stock will become less and less valuable. As a result, the enthusiasm for buying silk has become lower again.
What is the future of polyester yarn
In May, the inflation data in the United States reached an astonishing 8.4%. The skyrocketing prices have affected the lives of ordinary people, and in turn affected the results of this year’s midterm elections. Therefore, we had to resort to the killer weapon of raising interest rates by 75 basis points. As soon as the big weapon was released, the effect was immediate, lowering oil prices. Now there is news that the United States will continue to raise interest rates in July July75 basis points. By then, funds will still flow to the US dollar, and oil prices may fall.
However, this year’s market situation has determined that it will be difficult for weaving companies to stock up on raw materials in large quantities, and it is more likely to continue to reduce the operating rate of looms. The large inventory of polyester cannot be eliminated, and the scale of production shutdowns and maintenance may be expanded in the future.
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