Weekly Review Of Polyester Raw Materials Market (7.06-7.12)

Asia's PX dropped sharply and fell at a high level.

In July 8th, Asia's PX price fell below 800 US dollars / tonne. In early days, the price dropped by 45 US dollars (-4.85%) to 883 US dollars / ton.

PX now has a relatively substantial profit, but the price of oil is empty. Domestic CICC 1 million 600 thousand ton PX plant will soon be put into operation, and the PTA plant operating rate will decline, and the price of PX will fall or open.

At the beginning of this month, by July 2nd, Hengli petrochemical and Yifu Shanda PTA device reduced production information, upstream raw materials PX, PTA, MEG, polyester chip prices rebounded slightly, polyester staple fiber price performance was more resilient, and July 2nd trading climate has been briefly improved.

In July 3rd, the manufacturer's quotation increased by 50 yuan / ton, and the mainstream of Jiangsu and Zhejiang 1.4D direct spinning polyester staple price was 7450-7550 yuan / ton.

But the polyester staple product inventory is higher (starting load 61.7%, mainstream manufacturers inventory 16-21 days near), the market rebound kinetic energy is insufficient, manufacturers confidence is insufficient.

On the 6 day, the sharp drop in international oil prices led to a sharp fall in spot prices of PTA futures and MEG, and the short and short market was temporarily waiting for a view.

On the 7-8 day, PTA futures weakened sharply, and TA1509 and MEG showed a downward trend. The market price of polyester and short manufacturers was dragged down by a total of 200 yuan, and the mainstream quotation of Jiangsu and Zhejiang 1.4D direct spinning polyester short market was 7250-7300 yuan / ton.

On the 9-10 day, international oil prices and PTA, MEG spot prices all rebounded slightly, and the market for short and short consolidation was dominated. The quotations of manufacturers were basically stable.

Jiangsu and Zhejiang 1.4D direct spinning polyester and short market mainstream reported 7200-7250 yuan / ton factory, the deal can be negotiated; Fujian 1.4D direct spinning polyester short market mainstream reported 6900-7000 yuan / ton short delivery, business negotiations; Shandong, Hebei market 1.4 straight spinning polyester short mainstream newspaper 7200-7300 yuan / ton to deliver, the actual negotiations low turnover.

Short or late price trend or still weak, still need to pay attention to crude oil, PTA futures trend and

Maintenance of downstream cotton mill.

In the raw material market, in July, New York crude oil futures went out of the consolidation trend for nearly 2 months, breaking down, indicating the direction for chemical products.

At the beginning of the month, PTA leading enterprises cut production and drove raw materials PX, PTA, MEG and PET chips to rebound briefly, but this advantage was immediately followed by international oil prices and the world.

The collapse of the market, the collapse of the cost and the panic of the market make the raw material market again.

New York crude oil futures

A sudden turn for the worse.

In July 10th, the main contract closed at $52.74 per barrel in August, a sharp drop of $6.73 in early days, or 11.32%.

In July 1st, the unexpected increase in US crude oil supply reduced oil prices by 4.2% to $56.96 a barrel.

On the 2 day, the number of active drilling rig in the US oil field increased for the first time this year, and oil prices continued to decline. In July 6th, Greek voters rejected the creditors' assistance conditions in the referendum, and the possibility of the country's withdrawal from the euro zone increased. At the same time, China launched emergency measures to prevent a full-scale stock market crash, which aggravated the market's concern about the weak growth in demand growth under the global oversupply of crude oil. Besides, investors also paid close attention to the progress of the nuclear development project agreement in Iran. The risk of supply and demand increased. The main contract in August dropped by 4.40 yuan to $52.53 a barrel, or 7.7%.

This is the biggest one-day drop since February 4th.

On the 8 day, crude oil and gasoline stocks continued to grow unexpectedly, and oil prices fell for fifth consecutive days, dropping to $51.65 a barrel, the lowest price since April 10th.

On the 9 day, China's stock market rebounded strongly. In addition, the negotiations between Iran and six major powers around nuclear development projects also had a stalemate, which eased the supply level concerns. Oil prices rose for the first time in 6 trading days, and the main contract price increased 1.13 dollars in August to $52.78 a barrel.

US crude oil is facing more serious supply problems. It is dubbed by analysts as "the three win of market sentiment", that is, Greece, Iran and China related events that affect the supply and demand level of the crude oil market continue to play a role, and the international crude oil situation is empty.