Operation Of National Polyester Fiber Production And Marketing In March 2008

International crude oil prices fluctuated in March 2008, but the overall market is still rising.

Crude oil prices surged to $110.2 / barrel in the middle of the month, up 8.04% from 8.20 in early April.

The reasons for the sustained rise in crude oil prices include, firstly, that OPEC keeps its output stable and stable.

Second, the US domestic economic situation is still not improving, and the purchasing power of the US dollar is still in a downward path.

Third, speculation has pushed crude prices steadily higher.

Fourth, as the season turns warmer, the proportion of domestic driving trips in the United States has increased and gasoline consumption has increased significantly.

Crude oil prices dropped in the middle and last ten days, and the 25 day price dropped by 9.20 US dollars / barrel compared with the highest in the month, or 8.35%.

The decline was mainly due to profit making by speculators. Secondly, the intention to increase OPEC's crude oil production was also one of the reasons for the callback of crude oil prices.

(1) PX aspect

In March, PX prices rose first and then stabilized.

From the beginning of the month to the beginning of this month, the price of PX has been rising continuously due to the rise of crude oil price.

As of 24 days, the average price of PX rose to 1290 US dollars / ton, up 70 US dollars / ton from the beginning of the month, or 5.74%.

At the end of the month, the price of PX was gradually stabilized by the callback of crude oil prices, although the price continued to rise, but the rate of increase has been significantly reduced.

By the end of the month, the price of PX has closed at about $1298 / ton, rising by 8 US dollars / ton compared with 24, or 0.62%.

Compared with the beginning of the month, it rose by 78 US dollars / ton, or 6.39%.

(two) PTA aspect

In March, the price of PTA fluctuated, but the overall price rose steadily.

In the first ten days, the price of PTA increased first, and the price rose to 7950 yuan / ton on the 5 day, up 200 yuan / ton at the end of last month, or 2.58%.

Followed by a continuous decline in prices, the price fell to 7870 yuan / ton on the 10 day, down 80 yuan / ton compared with 5 days, or 1.01%.

The price spike at the beginning of the month was driven by the upward trend of prices last month. The subsequent decline was mainly due to traders' lack of confidence in the future market and profit understanding.

From mid to late, PTA prices rose again.

As of 23 days, the price has risen to 8120 yuan / ton, reaching the highest point in the first quarter.

Compared with 10 days, it rose 250 yuan / ton, or 3.18%.

The rebound in prices was mainly due to the increase in crude oil prices, the strong price of PX, and the reduction of market supply resulting from the increase of production costs in PTA factories.

Then, by the end of the month, the price of PTA continued to decline as a result of the decline in crude oil prices, the stabilization of PX prices and the profitability of traders.

The PTA price ended at 7970 yuan / ton.

(three) MEG aspect

The MEG market remained unchanged this month. It fell to 9 thousand and 600 yuan / ton in the middle of the month, reaching its lowest level since the first quarter. Then, although it had a slight rise, it eventually dropped to 9 thousand and 600 yuan / ton.

At present, the main reason for the continued downturn of MEG market lies in the fact that first, the contracted goods are coming to Hong Kong, but the receiving party has tight funds.

In addition, PTA prices continue to rise in recent years, and enterprise funds focus on PTA stock preparation.

As a result, the MEG market lacks financial support.

Second, traders are forced by the tight chain of funds, so they have to sell at a low price and cash in cash.

Such actions undoubtedly push MEG prices down.

Third, the vast majority of traders lack confidence in the MEG market. After buying the goods negatively, they turn to the PTA market after shipping.

The above reasons led to an inertia decline in the MEG market.

Market overview of polyester products in three and March

(1) polyester chips

1, production and marketing overview

According to statistics from China Textile Circulation Association (sample enterprise), 454294 tons of polyester chips were produced this month, an increase of 39741 tons from last month, an increase of 9.59%.

A decrease of 20915 tons, a decrease of 4.40%.

A total of 1294507 tons were produced in the first quarter, a decrease of 30720 tons compared with the same period, a decrease of 2.32%.

Sales volume was 449991 tons this month, an increase of 49016 tons from last month, an increase of 12.22%.

The decrease was 35216 tons, and the decline was 7.26%.

The cumulative sales volume in the first quarter was 1272895 tons, a decrease of 30292 tons compared with the same period, a decrease of 2.32%.

The stock was 120980 tons this month, an increase of 4572 tons from last month, an increase of 3.93%.

An increase of 24528 tons compared to the same period, an increase of 25.43%.

The production and sales rate this month was 99.05%, an increase of 2.33 percentage points from last month, down 3.05 percentage points from the same period last year.

The cumulative productivity in the first quarter was 98.33%, down 0.01 percentage points from the same period last year.

Inventory level was 26.63% this month, down 1.43 percentage points from last month, an increase of 6.33 percentage points over the same period last year.

2, market overview

PET chip prices showed a continuous small increase this month. By the end of the month, PET chip prices rose to 11 thousand and 150 yuan / ton, up 250 yuan / ton from the beginning of the month, or 2.29%.

The main reason for the increase in polyester chip prices is that first, the price of upstream raw materials is driving.

Second. After the festival, the factory operation rate has increased, and the demand for polyester chips has increased.

Downstream product market downturn, failed to support the price of polyester chip.

3, sales direction

According to statistics from China Textile Circulation Association (sample enterprise), polyester chip sales this month are mainly concentrated in Jiangsu, Zhejiang, Shanghai and export.

As the demand for PET chips increased after the festival, inflow of major sales areas increased more than last month except for Jiangsu province.

Zhejiang increased by 9644 tons, an increase of 7.72%.

Shanghai increased by 9512 tons, an increase of 42.88%.

Exports increased by 20293 tons, an increase of 48.17%.

Inflow of other regions is relatively small, and Inner Mongolia, Guangxi, Chongqing, Qinghai, Ningxia and other regions this month polyester chip inflow blank.

(two) polyester staple fiber

1, production and marketing overview

According to the statistics of China Textile Circulation Association (sample enterprise), output was 135469 tons this month, a decrease of 7247 tons from last month, a decrease of 5.08%.

A decrease of 29641 tons, a decrease of 17.95%.

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