Crude Oil Fell More Than 16% In The Month, The Pet Industry Chain Market Suffered Heavy Losses Again.

Recently, polyester industry chain can be described as a disaster. After a short surprise, it is subjected to all kinds of "crit".

On the last trading day of May, international oil prices suddenly suffered "flash collapse", becoming the worst performance month for the entire crude oil market since November last year.

The crude oil slump market was stunned for a while, but also directly weakened the domestic chemical futures one public product, PTA futures also suffered "heavy losses".

Crude oil fell more than 16% in the month, the biggest monthly decline in six months.

On the last trading day of May, the United States postponed the sanctions against the petrochemical industry in Iran on the last trading day, combating the already fragile confidence of the market, then issued a tax threat to Mexico, and announced that it would terminate the treatment of GSP from India in June 5th. Trump's tariff threat indicated that "no country is safe", which further exacerbated worries about the global economy and oil demand, and eventually led to a sharp drop in the crude oil market.

After a two week slump, it became the worst performance month for the entire oil market since November of May.

As of May 31st, WTI crude oil futures in July fell $3.09, or 5.46%, at 53.50 U.S. dollars / barrel, the lowest since February 12th. Last week, it fell 8.8%, down 16.3% in May, the first monthly decline in 2019, and the largest monthly decline since 2018.

Brent crude oil futures fell 2.38 U.S. dollars in July due to delivery day, down 3.56%, to 64.49 U.S. dollars / barrel, a record low since February 13th, that is, the month contract fell 11.4% in May; Brent August crude oil futures fell 3.34 U.S. dollars, or 5.1%, reported 61.99 U.S. dollars / ounce.

Chemical products collective weakness, domestic crude oil futures limit down!

Under the current situation of international trade disputes and global market crisis, the prospect of international oil price is complicated, fluctuating and uncertainty increasing.

It is reported that in June 3rd, the domestic chemical products futures collective weakness, fuel, methanol and other futures fell sharply, Shanghai crude oil futures are direct limit down; early morning trading began to decline, the internal crude oil futures contract fell 7.01%, to close at 429.6 yuan / barrel.

PTA futures suffered "heavy losses" and ethylene glycol went through all joys and sorrows.

Whether it is suppressed by the collapse of international oil prices or the collective weakness of chemicals futures, PTA futures will inevitably be able to escape the fate of falling.

In June 3rd, PTA futures opened lower, and then the disk continued to run low. Among them, the main 1909 contract ended at 5190 yuan / ton, compared with the previous trading day, a sharp decline of 184 yuan / ton, or 3.42%, the lowest price in recent months.

As a small partner of polyester, ethylene glycol market share the same fate with PTA.

On the same day, 3 days, glycol futures face was also weak at the opening, and the market continued to fluctuate at a low level. There was no sign of recovery. As of 3, the main 1909 contract ended at 4415 yuan / ton, compared with the previous trading day, a significant decrease of 87 yuan / ton, or 1.92%.

The raw material market in the upstream was "chaos and chaos". On the day of June 3rd, the polyester filament market remained stable for the time being.

However, in this wave of oil price "flashing", "PTA" "slump" operation, the original production and marketing of weak, stock, weak profit of polyester filament market can hold up?

In the context of the global economic forecast and the continuous fluctuation of the financial market, on the one hand, the OPEC countries continue to cut production and push up oil prices. On the other hand, the increase in shale oil output and the expected decline in global demand hamper the search for the upper space of oil prices; the two energy becomes the main force behind the sharp fluctuations in international oil prices this year.

Market participants are worried about the increase in mood. They have speculated whether the "deep down" market will repeat itself at the end of 2018.

For the polyester industry chain, the fluctuation of international oil prices will affect the overall market, plus economic data, inventory problems, demand pressures and other factors. Can this "green" be easily dissipated?