Viscose Staple Prices Continue To Rise Before The Holidays

This week

The load fluctuated greatly, and Tangshan Sanyou and Bola warp and weft limited production and maintenance at the end of 8, and resumed production after parade.

Long time parking devices such as Xinjiang and Fujian have also been put into trial production.

Production and sales in 80-130%, a single day local higher production and marketing hit 200%.

The middle end manufacturers are in the vicinity of 60-100%.

Viscose manufacturers kept low inventory, some manufacturers in September have basically signed the order, industry inventory maintained 8-9 days low level.

At the beginning of the week, the industry load was at 78% level, 9-6 days.

Back to 86-87%.

The new production and marketing situation of the market is slightly weaker than that of last week, but in the early stage of the viscose factory, the orders are abundant, and some manufacturers are still under a parking restriction. The market supply is still more intense.

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Raw materials market, oil prices fell below 40 U.S. dollars, after six and a half new low, rebounded sharply.

Asian PX and MEG fell more, but the market price of raw materials PTA and polyester chip did not follow the trend of crude oil in the middle of the middle ten days, but relatively strong. The market ended in the next ten days, following the sharp fall of international crude oil and stock market, even if the central Bank double down the profit, it is difficult to boost the decline.

New York crude oil futures plummeted and rebounded after low innovation.

Global oil supply continues to be at a relatively high level, the US dollar's exchange rate rises, and China's economic growth slows down to curb oil demand and other factors to suppress oil prices. Oil prices have fallen below 45 US dollars and US $40 respectively.

In August 24th, oil prices fell 5.5% to 38.24 U.S. dollars for 6 and a half years as concerns about China's declining demand and the growth of US crude oil supply.

However, on the three day of the month, due to the surge in the US and US stock market and better than expected US economic data, and the market questioned the long-term oversupply of global crude oil supply, oil prices surged by more than 27%, the biggest three day increase in 25 years, and the price rebounded to 49.2 US dollars per barrel in August 31st.

In August, the main crude oil contract rose by 2.08 US dollars, or 4.41%.

The continuous decline of crude oil, coupled with the commissioning of Ningbo CICC PX plant and the decline of domestic PTA operating rate, resulted in loose PX prices.

Since August, PX Taiwan has fallen by 78 US dollars (-9.07%) to US $752 / ton, and PX (FOB Korea) has fallen by 11.4% to 737 US dollars / ton, which is close to historical lows.

In the same period, naphtha dropped more than 18.2% in the same period. In addition to processing costs, there was still a profit margin of about US $75 / ton in PX production, so there would be no device overhaul in the near future.

The market outlook is concerned about whether crude oil can overshoot or rebound.