Polyester Short Disadvantaged Finishing Price Overall Stability

According to the price data of business associations, the average price of domestic 1.4D polyester staple fibers was 7345 yuan / ton, down 16.12% from the same period last year, or 1412 yuan / ton, down 17.85% from the same period last year, or 1597 yuan / ton. The price of the factory is mostly around 7050-7500 yuan / ton.

Upstream oil two cruise ships were attacked near the Strait of Hormuz in Oman Bay, and crude oil futures in Europe and the United States rose sharply, with a 4.5% rise in intraday trading. Closing narrowed up. A month later, the cruise ship was attacked again in the Persian Gulf. The risk of crude oil spanportation in the Middle East increased, insurance premiums and freight rates could increase, resulting in the rise in oil prices and the escalation of the conflict between the United States and Iran. No one claimed responsibility for the attack cruise ship, but the United States accused Iran of being responsible for the incident. OPEC reported that second-hand data showed OPEC crude oil output in May was 29 million 880 thousand barrels per day, a decrease of 236 thousand barrels per day from last month. Saudi Arabia's production dropped by 76 thousand barrels to 9 million 690 thousand barrels per day. According to OPEC, its member states cut their production rate by 293% in May, a record high.

The sharp rise in international oil prices caused by the news of a market, the price of bullets picked up at key prices. Investors in the Middle East attacked the situation in the Middle East. But the fall in crude oil prices also showed that the current market is short of confidence. The market is still weak in demand side, and crude oil prices are expected to continue to bottom.

According to the price data of business associations, the average market price of PTA in East China was 5577 yuan / ton, down 16.68%, or 1117 yuan / ton, down 3.16%, or 183 yuan / ton. PTA is currently operating at 92.63%, up 4.1% from the previous working day. Today, Sinopec Yizheng chemical fiber 650 thousand ton unit was overhauled for 2-3 days in June 14th, and the equipment of Yanda 2 million 250 thousand tons was reduced to 5 load due to failure. The recovery time was to be determined; Hengli petrochemical company plans to repair the 2 million 200 thousand line of the 1 line for about 15 days in the near future. The running rate of polyester is 88%, and the production and sale rate of polyester and polyester in Jiangsu and Zhejiang is relatively low, which is maintained at around 30%-50%. The inventory of intermediate end grey fabric has accumulated to a historical high level, resulting in the majority of enterprises stop production and continue to conduct polyester and staple fibers. The explosion of crude oil caused short fiber to soar and PTA rebounded. But the market is cautious about whether crude oil can continue to rise. It is expected that the PTA rebound will be limited.

The average price of the downstream yarn in Shandong area was 15380 yuan / ton, down 4.23%, or 680 yuan / ton, down 0.32%, or 50 yuan / ton. Recently, influenced by the Sino US trade war, tariff issues have always been coiled around the textile enterprises, and the United States may impose tariffs on another 325 billion US dollars, which will involve all exports of textiles, which will strike a heavy blow on the mentality of practitioners. Market sentiment continued to ferment, yarn market is gradually declining.

In summary, business analysts believe that although crude oil is attacked due to geopolitical reasons, crude oil will rise in the short term, but investors are more concerned about whether the crude oil can continue to rise in the future. Oil prices will fall later, which will temporarily support the formation of the cost side of PTA. However, the driving force of PTA is insufficient and the price will continue to be weak. The downstream yarn is in a wait-and-see attitude, and the trade war has a greater impact on the yarn market. In the near future, Zheng Shang is actively collecting information on the sale of polyester staple fibres, or it will bring some good stimulation. It is expected that the polyester staple fiber will still be weak in the later stage, and the price will remain at 7200-7400 yuan / ton.