Ji Lu Yu: The Overall Demand For Yarn Market Is Still No Pain, No Itching.

The silence of the market brings great trouble to the textile enterprises and downstream enterprises. Under heavy pressure, many enterprises are in the difficult position of operation. The industry experienced the cruelty of the textile industry, and faced the challenge of round after round.

At present, the overall market demand of Hebei, Shandong and Henan is still no pain, no itch, and no obvious change. Recently, the autumn and winter products of the knitting Market in Anyang, Henan have been finished. Spring and summer thin cloth is being processed. The main demand yarn is JC32s, JC36s and JC40s. Knitting yarn Most of the yarn is also used in some bamboo cotton series. JC40s in this market Ring spinning mainstream The transaction price is 26200-26500 yuan / ton.

　　 Polyester cotton yarn Line sales are still slightly better in the middle and high branches, and the orders for the low count yarn fabrics such as T65/35C 21S and T65/C35 24S in the grey fabric factory have been reduced, leading to a sharp reduction in the yarn load at this stage. At present, the sales volume of T65/C35 45S is relatively stable. T65/C35 45S price 18900 yuan / ton factory. The viscose market is still weak.

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The long-awaited joint production cut was settled last weekend. Related news shows that Yisheng Petrochemical has implemented production reduction plan since December 1st: Ningbo 1#, 2# device to maintain parking, 4#225 million tons of device parking; Dalian 2#350 million tons of device parking; Hainan 2 million 200 thousand tons of equipment in the same period dropped negative operation; Yisheng December overall operating rate dropped to 50%. In addition, Xiang Lu petrochemical, Hengli petrochemical and other domestic PTA production also announced the same day parking inspection arrangements.

Dong Dandan, senior analyst at Guotai Junan Futures, said the PTA factory announced a massive reduction in production at the weekend, with the largest reduction in the three main factories. "The PTA plant is doing this to better end the last month of 2014, in order to minimize the loss of stocks of raw materials and products, in order to further suppress PX, although PX is already very weak. The joint production reduction is the biggest support for PTA spot price in December. No matter how crude oil and PX prices go next, the good trend of downstream polyester will push up the PTA price continues to be strong, because the intensity of production reduction has made PTA supply and demand have a larger gap. She said.

She said that the production capacity of PTA and polyester was 4348 and 44 million 390 thousand tons respectively, the rate of starting up of polyester in December was 80%, and the operating rate of PTA was 60%, so that the social inventory in that month would be reduced by 400 thousand tons. If the PTA operation rate was 55%, the social stock of PTA would be reduced by 560 thousand tons. In July, ~11 increased about 550 thousand tons of social inventory in the four months. If the reduction is strictly enforced, the 1501 contract will reappear in the soft market. Investors can do the ~5 months in January, the price difference may be extended to 400 points, and 1501 contracts can be followed up unilaterally.

It is understood that the current PTA spot market in the weak end of the crude oil impact, the center of gravity shifted sharply, the spot decline is relatively small, mainly because the market is still expected to reduce production in the later stage, the spot price is reluctant to sell. However, the load of polyester plant is still high, and raw material demand can be maintained. In terms of polyester, the composite load is maintained at 8 to a higher level. Raw material demand is acceptable. Individual polyester factories increase the contract volume and PTA factory spot pressure relieved.