Polyester Staple Wait-And-See Shock Mainly Manufacturers Replenishment Cautious

PTA futures shocks upward, polyester market wait and see is the main. Psf At the beginning, it was slightly weaker. Some manufacturers' quotations were reduced by 50-100 yuan / ton. The mainstream of Jiangsu and Zhejiang 1.4D direct spinning polyester staple was quoted at 7450-7700 yuan / ton, and the turnover was 7300-7550 yuan / ton. Crude oil inventories unexpectedly increased by 3 million 295 thousand barrels, increasing the negative impact of the industry. Oil prices fell below $46 in the same night, and the raw materials declined all the same, but rebounded the next day.

The staple fiber staple offers steady wait and see. There is a slight increase in quotations from individual low price manufacturers. As of Friday, Jiangsu and Zhejiang 1.4D direct spun polyester staple was trading at a price of 7350-7450 yuan / ton relative to the mainstream, slightly higher than 7550-7650 yuan per ton. Polyester yarn prices this week slightly reduced, 32S mainstream offer 11400-11500 yuan / ton up and down, flat.

　　 Industry dynamics

In 1 and 2017, the production capacity of polyester staple fiber is 6 million 790 thousand tons. Among them, 200 thousand tons of Xiangsheng, 200 thousand tons of Far East, and 120 thousand tons of Shanghai Heng Yi are included in the calculation but not at present.

2, this week's Sinopec direct spinning polyester staple guide price: 1.4D half light 8000 yuan / ton, 1.2D gloss 8750 yuan / ton.

3, 1 sets of 200 thousand tons of polyester spinning staple equipment in Shandong one plant were affected by environmental protection. Since June 6th, parking rectification has been started. The restart time is not yet fixed, and the device is equipped with 150 thousand tons of short fiber thread.

4, this week raw material Slightly stronger, but crude oil bearish sentiment is heavy, polyester staple fiber general trading atmosphere, traders and downstream cotton mill replenishment inquiry is not much, basically based on just need replenishment. Polyester staple fiber manufacturers have slightly increased product inventories, and mainstream manufacturers have been storing products for 18-22 days, some of which are slightly higher or higher.

　　 Looking forward to the future

In terms of raw materials, crude oil is currently facing bad news, and there is still a possibility of probing $45 / barrel in the late stage; supply and demand in PTA is still tight; oil price decline has not kept its price down, and the overall trend is still strong; MEG is still mainly focused on short-term consolidation. Week end PTA real-time operating rate of 69% (now capacity base 48 million 840 thousand tons). Polyester commencement The load is near 84%.

In terms of demand, the downstream general polyester yarn is in a flat atmosphere, and manufacturers are cautious in replenishment. If there is no obvious fluctuation, they will basically buy on demand. Supply side, the factory started relatively stable recently, but due to low production and marketing, inventory continues to increase. In June, polyester entered the traditional loan repayment period. If the market continued to be stalemate in the latter stage, local or low price shipments would occur.

On the whole, the supply and demand of raw materials have been well supported, but the price of oil in recent years is relatively empty, and the attitude of Dacron staple is still cautious. Later, we should pay attention to changes in oil prices, after PX price trend, and downstream yarn manufacturers orders. Short term cost support is strong, but in the medium to long term, slicing price is at risk whenever the supply of caprolactam is expected to increase, or the market will have a negative impact again. At present, the nylon filament Market follows the cost side and insists on high reporting. However, it has weak desire for cost purchase and tight market supply.

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