The G20 Summit Will Bring Good Benefits To PET Staple Fiber.

According to the price data of business associations, by June 28th, the average price of domestic 1.4D polyester staple fibers was 7860 yuan / ton, down 1.43%, or 114 yuan / ton, down 11.12%, or 983 yuan / ton. The price of the factory is mostly 7800-8100 yuan / ton, and the actual turnover is 7600-7900 yuan / ton.

Upstream crude oil, the US Energy Information Administration (EIA) report showed that crude oil inventories dropped 12 million 788 thousand barrels to 469 million 600 thousand barrels last week; the API data showed that last week, API crude oil inventories decreased by 7 million 550 thousand barrels, and gasoline inventories decreased by 3 million 170 thousand barrels. International oil prices rose overall and maintained overall momentum. EIA inventories sharply pushed up oil prices. Tensions in the Middle East continue to support oil prices, but worries about the global slowdown and the rebound in the US dollar limit oil prices. The G20 summit is coming soon, and the OPEC conference is coming. Funds are eagerly looking forward to it. This will be the two major factor affecting the oil price in the near future.

The upstream TA909 closed at 5920, down 30 compared with the previous trading day. The cost of PTA is near 4000 yuan / ton, and the spot processing fee is as high as 1900 yuan / ton. In July, most factories had a maintenance plan, resulting in a supply gap in July. In particular, Fuhai set up a 4 million 500 thousand ton PTA plant, which is expected to be shut down for maintenance in July 3rd or about 20 days. At present, the operating rate of PTA is 95%, the polyester load is 90.13%, and the polyester plant is still profitable. Jiangsu and Zhejiang polyester production and sales today, the average estimate is around 116%. Grey cloth inventory is high, but taking into account the time required for conduction to polyester stocks, coupled with the existence of a large PTA device maintenance in July, there may be a shortage of demand in the spot. Short term prices will continue to operate strongly, and PTA is expected to be around 6200.

According to price data monitoring, as of June 28th, the average price of 32S polyester yarn in Shandong area was 15240 yuan / ton, down 2.68%, or 420 yuan / ton, down 1.55%, or 240 yuan / ton. The price of the factory is about 15300-16000 yuan per ton. At present, the supply of domestic cotton is adequate. In May, the central cotton reserves began to turn out, and the terminal demand continued to turn weak. Cotton mills and traders controlled the risk, and they were cautious about cotton purchasing. Overall, cotton supply in the first half of this year is very abundant in terms of supply and structure. This is also an important factor in the failure of cotton yarn prices to rise. On the other hand, the demand for cotton textiles began to decline after April, and the inventory of cotton yarn and grey cloth was at a low level. After May, the terminal demand weakened further, and Sino US trade friction and a series of external factors threatened the trading atmosphere. By June, the situation has not improved, and the stock has accumulated to a high level, making yarn prices keep falling.

In conclusion, business analysts believe that the G20 summit has been successfully concluded, and the two sides have reached agreement on trade frictions. The US side has no longer imposed new tariffs on China's exports. This global conference has brought good news for crude oil and PTA. The supply side is good, and the demand side is flagging. It is in the 7-8 month of the off-season. It is expected that the price of polyester staple will increase in the near term. In the long term summer, the price is still falling, and it is in a weak position.