Pressure Of Supply Polyester Staple Market Look For Golden Nine Silver Ten Traditional Peak Season

According to the price data of business associations, by August 28th, the average price of 1.4D*38mm polyester staple fibers in domestic areas was 7337 yuan / ton, down 10.4%, or 811 yuan / ton, down 34.70%, or 3899 yuan / ton, compared with last year's skyline price. Almost all staple manufacturers are on the sidelines, and the general quotations are concentrated at 7250-7360 yuan / ton. The actual volume is small, and everyone is waiting for the golden nine silver ten peak season.

On the 28 day, WTI crude oil futures rose 0.85 U.S. dollars in October, or 1.55%, at 55.78 U.S. dollars / barrel; Brent crude oil November contract now reported 59.93 U.S. dollars / barrel, up 1.52%. US crude oil inventories plummeted by tens of millions of barrels, crude oil inventories of 427 million 751 thousand barrels, down 10 million 30 thousand barrels from the previous week. The EIA inventory report continued to exceed the expected line, and the oil price also increased briefly, but soon the market got stuck from the optimism, because the 12 million 500 thousand barrels per day output of the United States refreshed the historical record of US crude oil production, which made the market have to re evaluate the supply pressure of the crude oil market, inhibit the oil price increase, and the oil price has dropped from high. Obviously, a lot of inventory reports are not enough to make the market confident enough to do more, and the market needs many factors to improve the market.

On the 28 day, PTA's main contract TA001 was strong and volatile. The closing price of the main contract was 5114, up 12 yuan from the previous trading day. PTA raw material cost is 4220 yuan / ton, processing fee is about 920 yuan / ton, and the price of negotiation in East China is 5150-5170 yuan / ton. Spot trading talks about the general atmosphere, a small number of transactions. The most recent hope is that the 1 million 200 thousand tons PTA project of Xinjiang Zhongtai Petrochemical Company is progressing smoothly and is expected to be completed and put into operation in October 30th 19. The 700 thousand tons PTA device of Li toy was restarted last week, and it stopped for half a month. The Ningbo Yisheng 650 thousand ton PTA plant stopped for 1 months and restarted 23 days. Facing the October new Feng Ming 2 million 200 thousand ton PTA new plant put into operation, Hengli Petrochemical 2 million 500 thousand ton PTA was put into operation at the end of the year. The operating rate of PTA has reached 95%, and the supply pressure of PTA is larger, either in the long run or in the short run. Polyester end stock is not high, product cash flow stage better, polyester operating rate of nearly 9, gradually entering the peak season of polyester consumption. Jiangsu and Zhejiang polyester production and sales rate of 78%, polyester staple production and sales of 40%-120%.

The average price of the downstream 32S polyester yarn in Shandong area was 15575 yuan / ton, down 2.17% from the beginning of the month, or 345 yuan / ton. The price of the big factory is two. The price of the middle end manufacturer is 13500-13800 yuan / ton, and the high-end factory price is 16300-16500 yuan / ton. According to Shandong, Hebei and other enterprises, because of the escalation of Sino US trade, the United States insisted on the Levy of 65% textile tariffs in September 1st, and expected textile and clothing exports to be affected, resulting in many manufacturers falling down on yarn prices. At present, the pressure of manufacturers comes from, first, the problem of commonplace, high inventory, backlog serious; second, the downstream mentality of taking delivery is pessimistic, and mostly in the form of credit, third, less orders, and even manufacturers did not have a list in August.

To sum up, business analysts believe that upstream oil or PTA have strong pressure to supply, and Sino US trade is still challenging the hearts of global investors. Geopolitical volatility is hard to bring to the supply side. The downstream yarns are high in stock and low in quantity. Cash flow can not be normal. Overall, polyester staple can only be expected in the traditional peak season of Jin Yin Yin ten.