As the domestic public health incident spreads overseas, crude oil prices have fallen for four consecutive times, and the cost side of polyester has been unable to support it. The price of polyester chips has been falling continuously since last week. In addition, the terminal weaving industry is currently restarting Limited, chip stocks continue to rise, and manufacturers are offering profits to ship goods. Recycled PET companies are slowly resuming work during the week, and the current price of chips has a negative impact on the recycling industry’s resumption plan. Many companies choose to wait and see, and the market is deserted.
As of this Thursday, the average price of the semi-glossy slice market was 5,855 yuan/ton, and the weekly average price fell by 1.10% month-on-month. The glossy slice market The average price was 5,945 yuan/ton, and the weekly average price fell 1.0% month-on-month. At the beginning of the week, as the public health incident gradually eased and the PTA equipment maintenance news broke out, the cost of polyester was relatively strong; in the middle of the week, as overseas public health incidents continued to spread, crude oil continued to fall, and PTA and ethylene glycol subsequently moved down. Further dragging down the market sentiment of polyester chips, the market is dominated by sporadic transactions and the supply of low-priced goods continues to increase. As of the close of trading, the mainstream negotiated price for semi-glossy slices in Jiangsu and Zhejiang was around 5,800 yuan/ton, and the mainstream negotiated price for glossy slices was around 5,850 yuan/ton.
As shown in the figure, the accumulation pressure of polyester chips increased sharply during the week. For companies that reduced their workload and stopped operations before the holiday, their inventories still remained at 0-10 days, while for companies that produced normally during the holiday, their inventories rose to more than 15 days, an increase of nearly 300% compared to the same period last year. The high inventory corresponds to the downstream weaving industry that is slow to resume production, which is in great contrast with last year’s resumption data. As the direct downstream of polyester chips, the start-up situation of chip spinning factories is relatively optimistic than that of downstream weaving. However, according to the raw material inventory data collected last year, the chip spinning factories directly downstream of polyester chips have sufficient stocks nearby in January, so in the short term It seems that it is difficult to boost the willingness to purchase large quantities. Around mid-March, with the recovery of downstream demand, the market trading atmosphere is obviously active, and the inventory pressure of enterprises will be relatively relieved by then.
The price difference between new material slicing and recycled material
During the week, some manufacturers have resumed operations one after another, and the domestic cold water blue and white flakes are quoted at 4,900-5,000 yuan/ton, which is higher than Prices were basically the same a year ago, with some manufacturers offering slightly lower prices. What is even more worrying is that the inventory of slices continues to rise, and the downstream production and order situation are still not optimistic. It is expected that the price of slices will still have room for downward adjustment. For recycling, even after the company resumes work, the price of recycled bottle slices will most likely be lowered. For companies that are currently strictly controlling costs and choosing to postpone the start of construction, a wait-and-see attitude is one of the options.
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