The Mid-Autumn Festival holiday is over. The typhoon brought raging wind and rain, but it did not cool down the market for polyester raw materials.
As of the closing on 9month13day15, PTAThe main futures contract closed at 5768 points, an increase of 198 from the previous trading day. points, an increase of 3.55%.
Since entering the 9 month, PTA futures have experienced many sharp rises and experienced many shocks. The lowest point is less than 5400 points and the highest point is more than 5800 points.
Currently, supply and demand of PTA remain relatively balanced due to low device operation in the past few months, so it has become extremely sensitive to upstream and downstream stimulation. The surge in PTAPTA’s rise this time was due to a combination of factors.
Crude oil rises
The current crude oil price is basically determined by the game between the Federal Reserve’s interest rate hikes, geopolitics and oil-producing countries’ production cuts. Whichever side has an advantage in the game, crude oil will develop in a direction that is more beneficial to which side.
During the Mid-Autumn Festival in China, negotiations on the Iranian nuclear issue worsened, and Western sanctions on Russia were further tightened, resulting in a tightening of crude oil supply. As a result, crude oil prices rebounded for several days in a row.
As of the close of New York on 912, the New York Mercantile Exchange10The price of light crude oil futures for monthly delivery rose0.99 US dollars per barrel, closing at 87.78 US dollar, an increase of 1.14%; 11London Brent crude oil futures prices rose span>1.16USD, closing at 94USD per barrel, an increase of 1.25%.
PXPrice increase
The Russo-Ukrainian war caused an energy crisis in Europe, and also caused a shortage in the input of chemical raw materials. European chemical companies were limited by the shortage of raw materials and their production capacity was severely reduced.
Coupled with the impact of the COVID-19 epidemic on the number of labor forces, the production capacity of European and American chemical companies has been further affected.
Although a large number of PX devices have been launched in the past two years, external dependence is still high. As external inputs tighten, supply and demand become tight.
But it’s not without good news. At least the current PX increase is acceptable. If the domestic PX hadn’t done so in the past two years With the investment, I am afraid that this time I will be cut off by another round of leeks by overseas factories.
Downstream demand picks up
September is the traditional peak season for the market. Even if the economic environment this year is indeed not good, the basic needs for food, clothing, housing and transportation are always there. Although downstream orders have shrunk a lot, they will always be better than July and August.
As a result, the demand for polyester raw materials has rebounded. In the early stage, polyester factories have been reducing production capacity and do not have large inventories. The increase in demand can effectively drive up prices.
Polyester filament is easy to rise but difficult to fall, and textile companies are under pressure
The price of PTA is more affected by the price of crude oil, so it often fluctuates up and down. However, the situation of polyester yarn is a little different. It basically only rises but does not fall. This is not true. As9 Month13DayPTA futures rose sharply again, and the polyester prices of many polyester factories The price of silk was raised again by 100 yuan/ tons.
Although the price of polyester filament has been rising again and again, the price of finished cloth produced by textile enterprises has basically not been able to rise.
After experiencing the downturn in the first half of this year, the general understanding of textile companies is that it is enough to have orders, even for some first-tier brands.Prices also started to be lowered this year. In previous years, those big brands would basically never switch to a factory after they identified it, in order to ensure stable quality. But this year, in order to control costs, they are not afraid of this trouble if you don’t lower the price. However, although the price has dropped, the quality cannot, thus giving textile companies a more severe test.
Of course, the editor also asked several weaving companies whose orders have been good. They all seem to have a premonition that the price of raw materials will increase, and almost all of them will have them ready by the end of 8 There is a large amount of polyester, which may be the reason for the order.
Editor’s note: PTAAlthough the price of PTA fluctuated, it rose overall, not to mention the downstream polyester yarn. After entering September, it basically only rose but did not fall. Textile companies have basically no room to increase cloth prices and can only bear it silently. Companies that cannot bear it can only be brutally liquidated.
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