International Oil Price Epic Level Plunged 30%! PTA, Glycol Limit! Polyester Filament Fell 100-200 Yuan / Ton!

This is the trend chart of ethylene glycol futures and PTA futures in March 9th. Xiao Bian was shocked when he saw the two pictures when he opened the computer in the morning. In the past, it was not seen that there was no limit, but it was the first time that such a straight line fell.

Specifically, in March 9th, the 2005 contract of ethylene glycol futures opened at the end of the day, and ended up at 4069 points, down 214 points from the previous trading day, or 5%.

PTA also opened trading limit, PTA main futures 2005 contract finally closed at 4078 points, compared with the previous trading day fell 216 points, or 5.03%.

Polyester filament, in the PTA, MEG and other raw materials prices fell, the original decline in the status of polyester prices continue to decline, a mainstream factory in Tongxiang polyester fell 100-150 yuan / ton, a factory in Jiangsu mainstream polyester factory fell 100-200 yuan / ton, Zhejiang polyester factory today fell 150 yuan / ton. On the whole, the price of polyester factories has been reduced by almost 100-200 yuan / ton.

In terms of production and marketing, the wait-and-see mood of weaving enterprises is aggravated due to the fall of polyester yarn. Today, the production and marketing of polyester filament Market in Jiangsu and Zhejiang provinces is light. The average production and sales of the mainstream factories are 20%-30%, and the production and sales of some factories can reach 50-70%.

The collapse of crude oil is the main cause.

In early March 9th, the international oil price suffered an avalanche, and Brent crude futures opened up more than 31%, at 32.14 U.S. dollars / barrel. WTI crude oil fell to 27%, to 30.07 U.S. dollars / barrel.

The trigger for the collapse of international oil prices was Saudi Arabia's announcement on Saturday that it sharply reduced the price of crude oil sold to Europe, the Far East and the United States. The discount rate has been the largest in more than 20 years to attract foreign refineries to buy Saudi Crude oil. Before that, the negotiations on the reduction of OPEC + (OPEC and its allies) in Vienna last week broke down.

　　 There is nothing new in the sun, "said the boss," I've seen this episode.

When the market was not good in 2019, the conventional products such as spring Asian spinning, polyester taffeta and artificial silk were overcapacity, and the phenomenon of frequent dumping and goods rejection on the market resulted in the lower and lower cloth prices, and the more and more cloth stocks became scarce.

Before the international oil price could be maintained at a higher position, OPEC had to work. Every time oil prices fell, oil producers would meet to negotiate production cuts. After the negotiations broke down, Saudi Arabia, one of OPEC's members and the world's largest oil producer, issued a statement on the weekend, saying it plans to raise crude oil output by 2 million barrels per day. This is undoubtedly sending out a signal that the price war has begun.

Some analysts said that today's oil prices may not yet reach the bottom, the future price may be another 3 decline.

Global epidemic raises concerns

WHO 8 said that as of 8 hours in Central Europe 10 hours (Beijing time 8 at 17 o'clock), the World Health Organization received data from various countries showed that the number of countries and regions affected by the new crown pneumonia epidemic outside China has reached 101, and the total number of confirmed cases is close to 30 thousand.

Not only Korea, Japan, Iran and Italy, but also the epidemic trend in France, Germany, the United States and Britain.

Up to 8 hours in Central Europe, 10 hours (17 hours in Beijing time 8), in addition to Italy, 589 cases were confirmed in Spain, 273 in the United Kingdom, 281 in Switzerland, 265 in Holland, 200 in Belgium, 168 in Sweden, and 157 in Norway.

In Asia, in addition to Japan and South Korea, 150 cases were confirmed in Singapore; 50 cases were diagnosed in Thailand, 31 cases were cured, 1 cases were died; 99 cases were confirmed in Malaysia, 24 cases were cured; 64 cases were confirmed in Kuwait; 85 cases were confirmed in Bahrain; 30 cases were confirmed in Vietnam; 40 cases were confirmed in India; 54 cases were confirmed in Iraq; 54 cases were confirmed in the United Arab Emirates; 40 cases were confirmed in Israel; and the case was confirmed by Oman.

In Oceania, 74 cases were confirmed in Australia and 5 in New Zealand. Canada has 63 confirmed cases in North America.

At that moment, the news of German Customs blocking 240 thousand imported masks was suddenly heard. Textile people can not help but sigh, I have seen this episode.

The outbreak of foreign epidemic has laid a huge worry for the textile market in the future, and played a role in boosting the price collapse of polyester products.

Polyester enterprises leaking overnight

For polyester enterprises, this decline is no doubt that the polyester market, which was originally in a downturn, was further suppressed.

This year, weaving enterprises are generally delayed. Last week, the loom start rate has just returned to about 7, so the stock of polyester factories has been at a historic high, with an average stock approaching 38 days.

Last week, polyester factory production and sales with polyester filament prices rose slightly at last, in polyester low opening rate, polyester stocks fell slightly.

Today, crude oil collapse, polyester raw material prices continue to fall, will inevitably aggravate the wait-and-see mentality of weaving enterprises, polyester factory to inventory road will become more difficult.

Weaving enterprises have unexpected events.

For weaving enterprises, this time also suffered from undue calamity.

Because of the backlog of demand caused by the outbreak of the epidemic, the textile enterprises received a relatively good reception after the start of the year, and the main fabrics such as imitation silk and spring summer were even rising because of the hot price of the market.

But after the collapse of polyester products prices, it will affect the price of grey fabric, and the inventory will further depreciate. On the other hand, with the outbreak of foreign countries, the extent of the foreign trade market can be restored to an unknown level this year, and the confidence of the textile market has been further suppressed.

afterword

OPEC failed to cut production, and oil producing countries fought a price war, resulting in the international oil price "epic level" plummeting, polyester products also plummeted, and the new crown pneumonia epidemic in the international spread, the recent textile market is bad. But the good news is that the domestic epidemic has been effectively controlled, and hope that textile people can take this opportunity to survive this difficult time.