Introduction: After the Spring Festival, the chemical sector rose strongly, especially chemical fiber products. PTA and MEG hit their daily limits on the 22nd and 23rd. Another chemical fiber product, the short fiber contract, also exceeded the 8,200 yuan mark. As of the noon closing on the 23rd, PTA’s main futures 2105 contract closed at 4582, an increase of 4.76% from the previous day’s settlement; MEG’s main futures 2105 contract closed at 5604, an increase of 5.10% from the previous day’s settlement; the main short fiber futures 2105 contract closed at 8118, which was an increase of 5.10% from the previous day’s settlement. The previous day’s settlement increased by 3.18%.
As far as the PTA market is concerned: Returning from the holiday, the main contract of PTA opened higher at 2105 and strengthened, and the trading volume performance was acceptable; but the contradiction between PTA supply and demand is still severe, although Hainan Yisheng 2 million The ton unit was unexpectedly shut down for maintenance during the Spring Festival. The overall load of Fujian Baihong was running at around 90%, and the overall load of PTA was running at around 82%. It is said that Honggang Petrochemical Phase 2 may be put into operation, and supply will still be under pressure by then. Although some end-user procurements have increased polyester production and sales, it is difficult for PTA to change its inventory accumulation pattern. However, there is still strong support for PTA on the cost side. As crude oil and PX continue to strengthen, PTA will still maintain a strong trend in the short term.
As far as the MEG market is concerned: the ethylene glycol market rose sharply after the holiday, crude oil continued to be strong, cost support was strong, and the overall strength of the energy and chemical sector boosted market sentiment, 22 On the same day, the main contract 2105 ushered in the first daily limit of the year. At the same time, affected by bad weather, many overseas devices were unexpectedly overhauled, imports continued to shrink as expected, port inventory accumulation was less than expected, and spot goods remained tight. Downstream and terminals actively resumed work and production, loads increased rapidly, and the demand side recovered beyond expectations. And as delivery nears the end of the month, passive covering of short positions supports the market’s rise. Under the support of multiple positive factors, the ethylene glycol market is experiencing a unilateral rise.
As far as the short fiber market is concerned: Due to the continued rise in international crude oil during the Spring Festival, major short fiber manufacturers led the gains after the holiday and some export and domestic trade orders improved, forming a general upward trend. Later, the main contract futures rose sharply to the 8,236 yuan line, which to a certain extent stimulated some downstream purchases. On-site production and sales were booming again. There were many oversold orders for short fiber. The tight supply and demand situation was difficult to alleviate, and there was no pressure on the supply side. On the downstream side, since some workers celebrated the Chinese New Year in situ this year, downstream spinning mills resumed work earlier than the same period in previous years, so demand recovered quickly, so the upstream and downstream benefits jointly boosted the short fiber market.
Taken together: the price trend of polyester industry chain products is relatively strong, the trend of crude oil will definitely boost the industrial chain market, and the textile demand is relatively optimistic, so the polyester industry chain is currently The market remains volatile and strong. </p
