On January 4, 2021, the first working day of the new year, the price of polyester raw materials rose sharply across the board.
In terms of PTA futures, as of the close of trading at 15:00 on January 4, 2021, the main 2105 contract of PTA futures finally closed at 3922 points, an increase of 120 points from the previous trading day. , an increase of 3.16%.
Ethylene glycol futures, as of January 2021 At 15:00 on March 4, the main 2105 contract of ethylene glycol futures finally closed at 4503 points, an increase of 179 points or 4.14% from the previous trading day.
In terms of short fiber futures, as of the closing at 15:00 on January 4, 2021, the main 2105 contract of short fiber futures finally closed at 6538 points, an increase of 174 points or 2.73% from the previous trading day.
Driven by the surge in upstream raw material futures, The production and sales of polyester filament also exploded on the 4th. The average production and sales of mainstream factories are between 150% and 200%, and some factories can even reach 400%.
Why will polyester raw materials appear like this in 2021? What about the “good start”?
The vaccine enters “actual combat”
After entering December, under the threat of the new crown epidemic, more and more countries have The region has accelerated the review process for the new crown vaccine and officially entered the vaccination process.
In addition, on December 31, 2020, my country also approved the first new coronavirus vaccine to be launched and promised to provide it free of charge to all people.
With routine foreign epidemic prevention measures almost ineffective, vaccines have almost become the last “life-saving straw” for all mankind to defeat the new coronavirus epidemic. Although vaccination in various countries and regions around the world has just begun, it does give people hope that everything will get better. Under such circumstances, market confidence has recovered and raw material prices have risen.
Weaving companies stock up before the Spring Festival
According to convention, textile companies will have a wave of stockpiling before the Spring Festival holiday every year. Cargo operations will be carried out to cope with possible raw material price increases after the beginning of next year.
Although at the beginning of this year, under the influence of the epidemic, the demand for textiles at home and abroad was greatly compressed, and the price of raw materials was almost cut in half, causing a lot of losses to textile companies that had stocked up on raw materials.
However, judging from what we have learned from previous visits to the market, there are still only a small number of textile companies that choose not to stockpile raw materials before the holiday. More textile companies are due to funds, risks, etc. The reason is that they will choose to stock less raw materials than in previous years. Some textile companies with good order demand will even choose to stock more raw materials than in previous years in order to reduce unnecessary risks due to the recent surge in raw materials.
There are factors of capital speculation
After November, whether it is the stock market, crude oil, The prices of precious metals, various chemical raw materials, and commodities have all increased to varying degrees. Take the most exaggerated Bitcoin as an example. On January 4, the highest price of a Bitcoin exceeded US$34,000, and then began to fall rapidly. There are obvious traces of financial manipulation.
On a global scale, only China’s physical manufacturing industry has almost completely recovered. A large amount of funds that lacked a place to go were concentrated in the securities and futures markets, driving up the prices of various commodities. , which may also include polyester raw materials.
Of course, relatively speaking, the growth rate of textile raw materials such as PTA, ethylene glycol and polyester filament is relatively not high, and there is no obvious “inflated” phenomenon in prices, so the recent pursuit of The risk of rising prices is not great.
It is foreseeable that in the future, , driven by the positive expectations brought by the vaccine and the “rigid demand” of textile companies to stock up at the end of the year, the rising momentum of polyester filament prices may not stop in the short term;
But On the other hand, rising polyester prices may make manyWeaving enterprises are in a “dilemma”: if you don’t buy it, others will buy it. If you don’t buy it now, it will be more expensive to buy it later, but if you buy it, it will put greater pressure on the already fragile capital chain of textile enterprises.
Textile companies need to consider more their own factors when buying silk before the festival, and what is best for them is the best.
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