Crudeoil:OnMonday,internationaloilpricesstoppedfallingandrebounded,withUScrudeoilandBrentcrudeoilatUS$52andUS$55respectively.Theroundnumbermarkfoundsupport.OnTuesday,U.S.crudeoilfuturespricesturnedhigherandhit$53.OilpricesweresteadyonWednesday.OilpricesretreatedonThursdayasmarketsfocusedmoreonthepotentialforvaccinedelaysandnewtravelrestrictionstoweighondemandthanontheimpactofaweakerdollarandasharpdrawdowninU.S.crudeinventories.InternationaloilpricesweremixedonFriday.AsofThursday’sclose,theMarchfuturespriceofWestTexasIntermediatecrudeoil(WTI)ontheNewYorkMercantileExchangecloseddown$0.76,or1.44%,at$52.09perbarrel.ThepriceofBrentcrudeoil(ICE)AprilfuturesonLondon’s Intercontinental Exchange closed down $0.57, or 1.03%, at $54.96 per barrel.
PX: On January 29, the price of paraxylene at Sinopec Huazhong Sales Company was temporarily stable. The PX device of the manufacturer Luoyang Petrochemical with a production capacity of 225,000 tons is operating at full capacity, with a daily output of about 600 tons. The current execution price is 5,200 yuan/ton, and sales are normal.
PTA aspects : The recent restart of Fuhai Chuang’s 4.5 million-ton PTA plant and the commissioning of Fujian Baihong’s 2.5-million-ton plant have led to the continuation of the loose PTA supply pattern. As the Spring Festival holiday approaches, the polyester market and the operating rate of the textile industry continue to fall, causing short-term price fluctuations in a narrow range. Years ago, when there was no major positive support from the fundamentals, the probability of PTA rebounding sharply was low, and it mainly oscillated in a narrow range.
MEG: Some ethylene glycol maintenance equipment will resume production one after another, and during the Spring Festival The manufacturing industry will reduce its load seasonally, putting pressure on ethylene glycol prices. However, port inventories continue to decline and the coal industry suffers significant losses, making it difficult to change the overall tight supply of ethylene glycol. In the short term, ethylene glycol prices will correct, but the extent will be limited.
Slicing: The polyester chip market remained stable this week, with most manufacturers offering at 5050-5250 yuan/ton. Downstream manufacturers have started to take holidays one after another, and there are not many transactions in the semi-gloss slice market in Jiangsu and Zhejiang. The optical chip market in Jiangsu and Zhejiang is the same, with mainstream quotes ranging from 5,250-5,350 yuan/ton (cash), and negotiations are expected to be around 5,150-5,300 yuan/ton (cash).
Polyester: POY factory has many discounts and promotions this week, boosted by this , the downstream is mostly focused on replenishing positions, and the production and sales of polyester filament are partially increased, but the overall production and sales data of other varieties are relatively average. As the Spring Festival approaches, the overall market trading will drop to freezing point in the later period. It is expected that prices will mainly fluctuate within a narrow range in the later period, and there are expectations for increases in varieties with better production and sales.
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