Polyester Industry Chain Short Term Strong, No Longer Affected By Sino US Trade Friction Trend

In August 24th, the US side announced that it would raise tariffs on Tariffs of about 550 billion US dollars on Chinese exports to the US, and claimed that it required us companies to leave China.

In the evening of August 24th, the State Council Tariff Commission issued two major announcements. The two major announcements were mainly against the US counteracting measures to impose 10% tariffs on imports of goods from China: about 300 billion dollars, and the first one was to impose tariffs on imported goods originating in the United States of about $75 billion. The two is to decide to impose tariffs on cars and parts originating in the United States. At this point, the counter measures that China has been paying attention to for many times in the market has finally "boots to the ground".

The US announcement of an increase in tariff rates on China triggered a turbulent market in the United States and strong discontent among all sectors of society in the United States. On the same day, the Dow Jones index fell more than 600 points. "This is a major mistake," the US business community has sharply criticized the US side's statement. They warned that the economic and trade frictions would damage US businesses and the wider economy, while claiming that the US companies should leave China would pose a new threat to US multinationals.

However, on Monday, the domestic commodity market performance was rather dull. The issue of tariff increase in the United States has not been carried out for two times, sometimes implemented and sometimes postponed. For the textile market, "one stone" is also difficult to arouse thousands of waves.

One, PTA opened once "flash collapse", followed by a rebound, to stabilize 5000 points!

We know that the macroeconomic information and other aspects of the impact on the commodity futures market are relatively obvious; but for this fluctuation of tariff rate, the whole futures market reaction is relatively calm. PTA futures face, although the opening soon was faced with "flash collapse", but then rebounded and rebounded, after the disk is in a small shock pattern, basically stable 5000 points. As of 26 days closing, the main 2001 contract closed at 5094 yuan / ton, compared with the settlement price of the previous trading day, a slight decrease of 18 yuan / ton, or 0.35%.

Two, ethylene glycol anti "normal", supply and demand support, rebound!

Recently, the polyester industry chain showed the most "dire" ethylene glycol market, which was abnormal, and on the 26 date, the pallet and electronic disk were all rising. Futures side, the 2001 main contract of ethylene glycol closed at 4622 yuan / ton, compared with the settlement price of the previous trading day, a sharp rise of 77 yuan / ton, or 1.69%.

This is mainly due to the support of the glycol market fundamentals. First of all, the supply and demand pattern is in a healthy development. It is reported that the ethylene glycol operating rate has remained at a low level near 62%, and the domestic supply recovery has been limited. The volume of shipments will continue to be high, and the overall strength of the 8-10 month will be around 20-25 tons.

Three. Weaving starts up rate, polyester filament anti fall enhancement!

From the upstream polyester raw materials PTA and ethylene glycol down, it is inevitable that the polyester filament market. Since the recent stage, the mainstream price of polyester filament has been more stable, and there has not been any ups and downs. However, as mentioned in the previous article, the price of polyester filament is almost at the lowest level in the year, of which POY 150D falls below the eight thousand mark, while DTY products not only fall below 10000 yuan, but also close to the nine thousand pass, and the price gap is even more obvious than the previous year. Whether FDY, POY or DTY, the price of each product dropped by 28%-32% year-on-year. Such a sharp decline in the situation, it is expected that polyester products in the short term prices will be relatively limited.

In fact, since the middle and late August, the start-up rates of several major industrial clusters in Jiangsu and Zhejiang provinces have picked up in varying degrees. The general increase in the start-up rate also means that the rigid demand for raw materials procurement is bound to exist, which supports the demand dynamics of the polyester filament market to a certain extent. As the market is expected to better, the inventory of fabric in the weaving market has declined as a whole. Some of the weaving factories naturally have the initiative to purchase raw materials. In addition, near the end of the month, they are in line with the time nodes for raw material procurement. Since the beginning of this year, the production and sale of polyester filament market has been impulsing, and the downstream demand has improved moderately.

Generally speaking, for the polyester market, the performance of each product is quite strong in the short term fundamental operation. The key to follow up is the need to pay attention to the pick-up and demand expectation of the terminal.

As the website of the Ministry of Commerce releases, China firmly opposes this unilateral, bullying trade protectionism and the ultimate pressure act, contrary to the consensus of heads of state of China and the United States, violating the principle of mutual respect, equality and mutual benefit, and seriously undermining the multilateral trading system and the normal international trade order. China strongly urges the US side not to misjudge the situation, do not underestimate the determination of the Chinese people, and stop the wrong practices immediately, otherwise all the consequences will be borne by the US side.