Unconsciously, the Spring Festival holiday has passed, and textile companies have begun to resume work and production. The editor is also here to wish all textile people a happy old age.
The domestic Spring Festival holiday is still going on in foreign markets. For the polyester market, international oil prices have been A weathervane. While the Chinese people are celebrating the Spring Festival holiday, crude oil prices continue to hit new highs.
From February 10 to the close of February 16, the price of Brent crude oil rose from US$60.94 per barrel to US$63.56, an increase of 4.3%, and the price of US crude oil rose from US$58.17 per barrel. It rose to $60.15, an increase of 3.4%.
International oil prices rose significantly again on the 17th. As of the close of the day, the price of light crude oil futures for March delivery on the New York Mercantile Exchange rose by $1.09 to close at $61.14 per barrel, an increase of 1.82%; the price of London Brent crude oil futures for April delivery rose by $0.99, It closed at US$64.34 per barrel, an increase of 1.56%.
Data released by S&P Global Platts shows that due to the extreme cold weather, daily crude oil production in the United States has decreased, and several refineries in Texas have reduced operating rates. Oil prices will continue to decline in the future. Room for upside.
Driven by international oil prices, polyester raw materials have also ushered in the opening of the market on February 18 A good start.
In terms of PTA futures, as of 15:00 pm on February 18, the main closing price of PTA futures was 4298 points, an increase of 172 points or 4.17% from the previous trading day.
In terms of ethylene glycol futures, as of 15:00 pm on February 18, the main closing price of PTA futures was 4986 points, an increase of 411 points, or 8.98%, from the previous trading day.
Short fiber futures, as of 15:00 pm on February 18, the main closing price of PTA futures was 7734 points , up 640 points or 9.02% from the previous trading day.
Driving by polyester raw materials, the price of polyester filament has also generally increased by 100-300 yuan/ Ton:
Another POY factory in Xiaoshan raised the price of polyester yarn by 250-300 yuan today;
A large factory in Tongxiang raised the price of polyester yarn by 200-300 yuan today;
Another factory in Tongxiang raised the price of polyester yarn by 200-300 yuan today; The price of polyester yarn from a major factory in Wujiang increased by 100-400 yuan today;
The price of polyester yarn from a major factory in Wujiang increased by 100-400 yuan
……
Polyester products have surged across the board, and the polyester market will usher in the Year of the Ox in 2021 A “good start”.
“Good start” may be just the beginning
Now The market is more concerned about whether there will be a new atmosphere in the new year and whether the textile market will have sufficient orders to continue in the new year to continue the rise of polyester raw materials.
Whether orders can be continued mainly depends on whether the consumption capacity of the downstream market can recover from the epidemic and when the market can pick up. The good news is that in this regard, there has been frequent good news recently. came.
Domestic market: Consumption does not decrease during the Spring Festival holiday
The Ministry of Commerce released data on the 17th, from February 11 to 17 On the same day, the country’s key retail and catering companies achieved sales of approximately 821 billion yuan, an increase of 28.7% compared with last year’s Spring Festival Golden Week. At the same time, online consumption is growing rapidly, with national online retail sales exceeding 120 billion yuan.
Foreign markets: Demand has recovered significantly
U.S. retail sales in January recorded a monthly rate of 5.3%, a record high of 6% last year A new high since January, much higher than the expected 1%. The previous value was revised from -0.7% to -1%. U.S. retail sales surged in January, indicating a rebound in household demand.
Consumption during the Spring Festival in the domestic market has been strong, and foreign markets have recovered rapidly after vaccines began to become more popular. Presumably, textile companies will not be short of orders in the future.
While there is no shortage of orders and crude oil continues to rise, the price of polyester raw materials is likely to rise further in the future.
Editor’s note: For textile companies, rising raw material prices are a good thing , but it is also a bad thing. On the one hand, due to the poor market conditions last year, many weaving companies have a lot of inventory. The raw materials have increased, and the prices of this inventory have also increased. On the other hand, the increase in raw material prices will also prompt textile companies to buy more silk. This has aggravated the financial shortage of some weaving enterprises.
The editor judges that the price increase of polyester raw materials will continue in the future, so textile companies in need can consider preparing some yarn in advance to control risks. </p
