This week, the overall domestic polyester filament market price showed a stable to weak trend. Currently, due to the downstream textile market The overall market is in a “closed” state. Most mainstream factories in Jiangsu and Zhejiang maintain their pre-Spring Festival prices, while individual specifications are slightly reduced.
Due to the sharp drop in external oil prices during the holidays and concerns about the market, cost-side support collapsed. The domestic futures market of raw material PTA on Monday, the first trading day after the Spring Festival, mainly opened with a decline, with the main contract hitting the limit and closing price at 4,470 yuan/ton, down 338 yuan/ton or 7.03% from the previous trading day. The spot market followed the decline. As of February 7, the average market price was 4,660 yuan/ton, down 4.62% from the previous week and down 29.21% year-on-year. New production capacity was put into operation before the holiday, and the operating rate remained relatively high. During the Spring Festival, inventory accumulation was obvious, and social inventory increased by nearly 30% compared with before the holiday. In addition, due to the current delay in the resumption of downstream work, coupled with limited logistics, the demand side is light, and inventory accumulation As pressure increases, the contradiction between supply and demand will become more prominent.
The terminal textile and garment industry is a labor-intensive industry. Before the Spring Festival holiday, the downstream textile industry has significantly reduced its operating rate, and the operating rate of Jiangsu and Zhejiang loom factories dropped to less than 8%. At present, various regions have postponed the return date of textile workers. At the same time, as the textile industry is concentrated, the automobile transportation of some factories in Shandong, Jiangsu, Zhejiang and other regions has been affected. The demand for end-use textile and weaving consumption has been suppressed in the short term, and the increase in loom operating rate may be slower than in previous years.
In terms of textile exports, the international environment facing the development of China’s textile industry in 2019 has become increasingly complex. Especially since the Sino-US trade friction, the pressure on textile exports has increased. From January to December 2019, my country’s cumulative export volume of textiles and clothing was US$271.8362 billion, a year-on-year decrease of 1.89%. Among them, the cumulative export volume of textiles was US$120.2692 billion, a year-on-year increase of 0.91%; the cumulative export volume of clothing was US$151.567 billion, a year-on-year decrease of 4.01%. %. Under the current situation, domestic trade export orders will definitely be affected to a certain extent and will face more tests.
PTA is currently under heavy storage pressure, but the rebound in crude oil prices in mid-week is good for costs, and PTA has shown a tendency to stop falling and recover, forming some support. The delay in the resumption of work of terminal textiles, poor logistics and few orders have temporarily stagnated demand. The market has prices but no market, and remains deserted. The short-term polyester filament market is expected to remain stable, and the market outlook needs to pay attention to the progress of factory resumption of work and the status of downstream orders.
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