Demand For Textile Materials Increases And Exports Pick Up

< p > last week, the price of PTA futures continued to rebound, even though it fell slightly in April 12th and narrowed, the 1309 contract still rose 146 points or 1.85%.

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Since the Spring Festival this year, when the macro outlook is not optimistic and the industry has many links and high inventories, the price of PTA futures has fallen unilaterally from 9000 yuan / ton to 7638 yuan / ton before it rebounded.

Judging from the relationship between positions and prices, PTA futures prices have stabilised after a surge in the market in late March.

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< p > the crude oil market is affected by factors such as the global energy demand reduction predicted by the International Energy Agency and the increase in the daily output of non OPEC crude oil, which will exceed the growth of global oil demand. Last week, international oil prices showed a decline, of which Brent (Brent) crude oil fell 1.61% and WTI crude oil fell 2.14%.

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P supply and demand point of view, PX (p-xylene) is the main factor leading to medium and short term PTA futures market.

"PTA upstream raw material PX was strong after the Asian contract was settled in April, leading to a divergence between short-term PTA and oil price trend."

Hu Xiaodong, an analyst at Nanhua futures, said that as the main source of cost for PTA, PX production enterprises successfully completed the reduction of inventory through the reduction of prices, while the kinetic energy of the PX continued to break down. The rise of PX provided an effective cost support for PTA.

Data show that the FOB price of South Korea's PX rebounded from $1434 / ton to $1479 / ton, or 3.14%, while the PTA spot rose from 7800 yuan / ton to 7890 yuan / ton, or 1.15%.

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< p > in addition, the latest figures of the General Administration of Customs show that China's exports rebounded sharply in the first quarter, an increase of 18.4% compared with the same period last year, and the year-on-year growth rate of imports was 8.4%. Among them, < a target= "_blank" href= "http://www.91se91.com/" > textile < /a > a target= "_blank" href= "_blank" > clothing < < > industry, from January to February, exports increased by 69% over the same period last year, and the export growth in the first quarter was 50% over the same period.

"The recovery rate of the textile industry increased significantly in the middle and late March, and the polyester production and sales rate rose to a high level last week."

Hu Xiaodong believes that < a href= "http://www.91se91.com/news/" > weaving enterprise < /a > inventory is obviously lower than that of the previous year, and the willingness of the enterprises to replenishment will increase later, and the polyester link is in the down cycle of inventory.

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< p > on the other hand, crude oil prices continue to decline or drag down the two bottom of PTA futures prices in the medium and short term.

Industry analysts believe that from March to April the relative weakness of the US economy, coupled with the European economic downturn and the Italy election and other uncertain factors, the weakness of the developed economies will continue to drag down the trend of oil prices, while the low demand for crude oil in April will further suppress the trend of oil prices.

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< p > "in the short term, the price of PTA futures is still suppressed by the uncertainty of the macro level and the fall of upstream oil prices."

Hu Xiaodong believes that by the downstream a href= "http://www.91se91.com/news/index_c.asp" > textile and garment industry < /a > export warming, weaving enterprises to replenishment of positive factors such as stimulation, the late PTA will start to rise gradually, April PTA futures price or maintain the bottom broad shock trend.

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