According to the price monitoring of the Business Society, domestic polyester prices in June The prices of various products in the filament market showed a trend of rising first and then falling. Among them, polyester FDY fell most obviously, with a monthly decrease of 4.74%, followed by polyester DTY, which fell by 1.38%, and polyester POY, which was unchanged from the beginning of the month. Currently, the quotations of polyester POY (150D/48F) from mainstream factories in Jiangsu and Zhejiang are 5,500-5,600 yuan/ton, and the quotations of polyester FDY (150D/96F) are 5,850-6,110 yuan/ton. Polyester DTY (150D/48F low elasticity) 6850-7400 yuan/ton. Since June, the rise in international crude oil has driven up the price of polyester raw materials, thereby stimulating an increase in polyester prices. However, starting from the middle of the month, as the off-season atmosphere in the textile industry deepened, especially after the Dragon Boat Festival holiday, crude oil futures fell, and polyester prices began to fall following it.
Crude oil in June is still in the production reduction cycle, and the price continues to fluctuate and rise. Superimposed on the concentration of routine and unplanned maintenance and production reduction events of PX devices in Asia, PX has been affected This boost has bottomed out. As of June 28, the closing prices in Asia were US$556/ton FOB South Korea and US$576/ton CFR China. The domestic PX price was 4,300 yuan/ton, up 4.88% from the beginning of the month and down 38.57% year-on-year. %. Domestic PTA spot market prices have shown an “M”-shaped upward oscillation trend. Faced with high inventory and weak terminal demand in the traditional off-season, the increase has narrowed compared to May. As of June 29, the average market price was 3,621 yuan/ tons, up 1.89% from the beginning of the month and down 43.11% year-on-year.
The off-season atmosphere in the downstream terminal textile and weaving market is gradually deepening. It is even more difficult in the off-season of a special year, with sluggish demand and light transactions. Most weaving companies began to significantly reduce their operating rates, and the comprehensive operating rate of looms in Jiangsu and Zhejiang dropped slightly to below 61% again. In the past, manufacturers generally stocked up more or less goods before holidays, but this time before the Dragon Boat Festival holiday, manufacturers were not very enthusiastic about replenishing goods. It is understood that the current inventory of gray fabrics in Shengze has risen to about 43-44 days, which is about 2-3 days higher than the same period last year, about 19 days higher than the same period in 2018, and about 16 days higher than the same period in 2017.
The pressure on textile foreign trade exports is still very high. According to the latest statistical data from the General Administration of Customs of China, in May 2020, my country The export value of textiles and clothing was US$29.554 billion, a month-on-month increase of 38.36%, of which the export value of clothing (including clothing and clothing accessories) was US$8.9057 billion, a year-on-year decrease of 26.93%. From January to May 2020, my country’s cumulative export volume of textiles and clothing was US$97.965 billion, a year-on-year decrease of 0.80%, of which the cumulative export volume of clothing was US$38.2131 billion, a year-on-year decrease of 22.80%.
Xia Ting, an analyst at SunSirs, believes that against the backdrop of high inventories, the PTA market is more likely to weaken in the future, with insufficient support from the raw material side. At the same time, the traditional off-season characteristics of textile terminals are becoming more and more obvious. Domestic sales demand is sluggish and export sales are difficult to make breakthroughs. Therefore, in the absence of positive boost, the overall price of polyester filament in July is more likely to weaken. </p
