When we predicted last week, we mentioned that this week’s market will mainly focus on polyester production cuts and crude oil prices. We never expected that on Monday, Tuesday, and Thursday, international oil prices would rise. Plunging…
Well, actually the editor didn’t expect that. I just didn’t know what to write at the time so I wrote down the oil price. , anyway, no one can say for sure about oil prices, so I won’t be wrong if I write it, right? In the end, I can only say – I really admire myself.
Polyester market this week
International oil prices
It fell 4% on Monday and 7% on Tuesday. After a slight correction on Wednesday, the Federal Reserve began to raise interest rates again. As a result, it fell another 5% on Thursday.
The Federal Reserve is a bull. As soon as Trump tweeted that oil prices were falling, the small countries in the Middle East trembled. Oil prices fell as soon as they said they would. . Now Trump has repeatedly expressed his request for the Federal Reserve not to raise interest rates, but the Fed still raises interest rates when it says it will.
After the Federal Reserve raised interest rates several times before, international oil prices have been slightly suppressed in the short term. Now that oil prices have already collapsed, there will be another I’m afraid the situation will not be over until interest rates are raised. I don’t know when I will fall to my height.
Of course, there are benefits. At least it will be cheaper for me to go to the gas station to refuel.
PTA
PTA actually has nothing to say this week. International oil prices have fallen. PTA also fell slowly. However, the daily drop is not large, only about 1%-2%. On Friday, the drop was a bit more severe, with a drop of more than 2%, but it was not the same as crude oil. The recent production cuts of polyester factories have had a certain suppressive effect on PTA. However, because the overall social inventory of PTA is not high, the impact is not too great, and the price can basically be stable.
Polyester filament
This week the polyester filament is really miserable. Polyester factories have a lot of inventory that needs to be cleared. In the past two weeks, the price of polyester filament has been rising steadily, and the inventory is slowly decreasing. In addition, as soon as the production reduction measures are implemented, the downstream weaving market is stocking up again. By the end of the year, the inventory is expected to be almost cleared, which is not a blessing.
But the plunge in crude oil was like a bolt from the blue, shattering the dream of destocking polyester factories in minutes.
Since the crude oil price plummeted, polyester production and sales have plummeted. On Tuesday, it was 40% to 60%, and on Wednesday, it became 30% to 50%, which is not as good as before.
But if you think about it, weaving companies will have to prepare dozens or hundreds of tons of raw materials to stock up at the end of the year. The difference in raw materials is 100 yuan per ton. In the end What is affected is tens of thousands of profits. Seeing that crude oil and PTA have fallen, and now that it is the end of the year and there are no orders to rush, of course we should wait until the price of polyester filament bottoms out before buying.
Key events in the polyester market this week
Oil prices plummeted!
Oil prices plummeted!
Oil prices plummeted!
China-U.S. trade continues to ease
The United States officially issued a statement stating that the 25% tariff The date of collection has been postponed to March 2 next year. COFCO also issued an announcement that it will begin importing soybeans from the United States. Sino-US trade is developing in a positive direction.
Things to pay attention to next week
The trend of international oil prices next week
Anyway, the C position this week has been taken away by oil prices. The next polyester market will mainly focus on oil prices. Recent news has come out that because this production reduction plan has been questioned, Saudi Arabia has begun to launch a new round of production reduction plan, coupled with the impact of good news such as US crude oil inventories reaching a new low, international oil prices are likely to stop next week. Fall and rebound.
When is polyester filamentPrices began to fall at this time
This week, as international oil prices plummeted, ethylene glycol and PTA both fell. The PTA inventory is so low that all the products have fallen. The polyester stock is so high, how can it keep it from falling? The question now is when will the polyester yarn reach its full size?
After all, it is almost the end of the year, and the holiday for weaving companies is less than a month away, but there is still so much inventory that needs to be cleared, and there is not much time left for a polyester company!
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