According to Xinhua News Agency, China-US trade ranks first The three-phase trade agreement has basically reached an agreement. The China-U.S. negotiations made positive progress on Friday. The United States has promised to cancel some of the proposed and already imposed tariffs on China, and will increase efforts to exempt China from tariffs on U.S. products. Subsequently, Trump Trump said that the United States will not impose new tariffs on the United States. The Sino-US trade dispute has led to a slowdown in global economic growth and a slowdown in global oil demand growth. The good results of this negotiation caused international oil prices to rise to a new high in three months, and the settlement price of WTI exceeded US$60 for the first time in the past three months.
This week, the main PTA futures (2005) narrowed their gains and closed at 4914, up 119 yuan from the beginning of the week. The spot price of PTA was traded around 4,875 yuan/ton, the production cost was about 4,320 yuan/ton, and the processing fee was around 480 yuan/ton. Hailun Petrochemical’s 1.2 million-ton unit is scheduled to undergo maintenance in late December; Hanbang Petrochemical’s 2.2-million-ton unit is scheduled to undergo maintenance on December 10 and is scheduled to be maintained for 10 days; Chuaneng Chemical experienced a short-term outage on November 1, and the current load rate is about 80%; Xinjiang Zhongtai’s new 1.2 million-ton PTA device is scheduled to be put into operation near December 20.
The current PTA industry operating rate is 92.89%. The production and sales of polyester yarn in Jiangsu and Zhejiang are light. The comprehensive operating rate of looms in Jiangsu and Zhejiang is 70%. The maintenance of polyester equipment has increased, and the operating rate has dropped to 86.88%.
As of December 14, the average ex-factory price of downstream polyester yarn in Shandong was 14,420 yuan/ton. The price has hardly changed in the past two months and is very stable. The price quoted by mid-range manufacturers is 13,700-14,200 yuan/ton, and the price quoted by high-end manufacturers is 15,000-15,300 yuan/ton.
The overall trading atmosphere in the yarn market is cold, companies have large inventories, and the capital chain cannot turn around. Many manufacturers go on holiday in advance to relieve pressure. The main reason why yarns have been changing slowly is that imported yarns have a big impact. From a cost-effective perspective, foreign yarns are more competitive, causing domestic yarns to be impacted. In addition, the performance of viscose staple fiber and cotton has been tepid throughout this year. Manufacturers have concentrated on destocking, and prices have been slowly falling.
To sum up, analysts from Business News believe that upstream oil prices will still show a volatile upward trend in the short term due to the improvement of the macro situation; PTA has seen limited gains in recent days, with expectations for new production capacity and corporate overhauls Restarting, coupled with the maintenance of many companies, the supply and demand trend has weakened, and PTA is expected to continue the weak pattern; due to the impact of upstream cotton and viscose, coupled with high inventory, the price of downstream yarn has been in a weak downward trend all year round.
It is expected that the later price trend of polyester staple fiber will still follow that of crude oil and rise slightly in the short term. </p
