Due to the global epidemic, demand for crude oil has decreased sharply, resulting in increased crude oil inventories and nearly saturated storage capacity. Under this situation, OPEC+ agreed to extend the production reduction agreement until the end of July, which stimulated the crude oil and polyester markets to rise. However, due to the negative impact, crude oil prices fell again.
In recent days, the Ministerial Joint Monitoring Committee of OPEC and its production reduction allies pointed out that some countries that have not met the production reduction commitments have agreed to compensate for the failure to fulfill their obligations in the next few months. International oil prices Rising again.
As of the close of trading on the 19th, the price of light crude oil futures for July delivery on the New York Mercantile Exchange rose by US$0.91 to close at US$39.75 per barrel, an increase of 2.34%; The price of Brent crude oil futures in London rose by 0.68 US dollars to close at 42.19 US dollars per barrel, an increase of 1.64%. During the session, crude oil prices once exceeded $40.
The price of crude oil surged, which once again drove the polyester raw material end to take the opportunity to rise. On the 19th, polyester raw materials PTA and ethylene glycol once again drew beautiful red lines.
In terms of PTA, the main PTA 2009 contract of Zhengzhou Commercial Exchange closed at 3,734 yuan/ton, an increase of 32 yuan/ton or 0.86% compared with the previous trading day.
In terms of ethylene glycol, DCE The main ethylene glycol 2009 contract closed at 3,729 yuan/ton, an increase of 79 yuan/ton or 2.16% compared with the previous trading day.
Polyester raw materials have finally improved under the stimulation of external news, but polyester filament is still tepid. This week, the prices of various polyester filament products have been reduced compared with last week, and the prices of each product have dropped to varying degrees.
In terms of production and sales, it is even more difficult to pull up. This week, polyester filament production and sales have continued to be sluggish, and the average production and sales of mainstream manufacturers have remained around 50%.
Last week, stimulated by raw materials, polyester filament also had a market price exceeding 100. Generally speaking, the price of crude oil can drive up the price of polyester raw materials and stimulate the increase in polyester production and sales, but now, this trick does not work!
Some time ago we have been saying that polyester yarn is in a situation where it is hot at the top and cold at the bottom. Now the upstream cannot carry it, what about the downstream?
Polyester prices are unstable
Weaving manufacturers: stock up Scared!
The unstable price of raw materials is one of the most worrying things for weaving manufacturers this year. The declining raw materials have caused people who stocked up last year to The manufacturer lost a lot of money. Mr. Chen, who owns 200 looms, said: “At the end of last year, I was afraid that the price of polyester yarn would rise after the New Year, so I stocked up a lot of raw materials because the price of raw materials was very low last year. I didn’t expect that the price of polyester yarn would drop again this year, and I would lose money.” A lot of money! Now I don’t dare to hoard raw materials at will. I just buy them and use them as I go.”
Taketheproductionofpongeeandpolyestertaffetaasanexample.Therawmaterialsrequiredfor200loomsperdayareapproximatelyFor5tons,thepriceofpolyesterfilamentFDYproductswasaround7,600yuan/tonyearsago,butnowthepriceisaround6,250yuan/ton.Thepricedifferenceforonetonisabout1,350yuan/ton.Thepricedifferencefor5tonsperdayis6,750yuanpermonth.Itis202,500yuan.
Takingthisyear’smarketconditionsasanexample,manufacturersthemselvesarefacingpressuressuchasrent,workers’wages,waterandelectricity,andbankinterestduetolackoforders.Ifthepriceofrawmaterialsfluctuatesgreatly,itwillbeverydifficultforthemanufacturers.Inotherwords,itisaddinginsulttoinjury.
Operationratedrops
Weavingmanufacturer:noorders
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Asthetraditionaloff-seasonatmospheredeepens,themarketconditionsfurtherdecline.Manyweavingmanufacturershaveinsufficientordersandgrayfabricinventoriescontinuetoincrease.,begantherhythmofvacationforallemployees.
ManagerZhu,whospecializesindownjacketfabrics,revealed:”Inpreviousyears,theoperatingratewasbasicallyfullatthistime,butthisyearithasdroppedto70%,barelymaintained,andtherearenotmanyfollow-uporders.Comparedwithpreviousyears,Comparedwiththisyear,overallordershaveshrunkbynearly50%,andtherearemillionsofmetersininventory.Clothingfabricshavebecomelessandlesspopular,andwewillconsiderreducingproductioninthefuture.”
AccordingtostatisticsfromChinaSilkCityNetwork,thecurrentoperatingrateofmanufacturersinShengzehasdroppedtoaround68%,whiletheinventoryofgrayfabricshasincreasedtoabout43-44days,whichishigherthaninpreviousyears.Thelevelofthesameperiod.
Currently, changes in the upstream cost end have no significant role in promoting polyester yarn. , and the downstream weaving market has gradually entered the off-season. Under the circumstances where both upstream and downstream are not strong, polyester filament may also enter a stage of continued inventory accumulation.
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