Saudi Oil "Heart" Bombing: Production Capacity Sharply Reduced By 50%, Textile Raw Material Industry Or Affected

Saudi Arabia's interior ministry said in a statement on the 14 day, that morning, several UAVs attacked the Saudi national oil company, that is, Saudi Aramco oil company's two oil facilities and caused a fire.

It is reported that the attack will result in a reduction of 5 million 700 thousand barrels of Saudi oil daily output, or will become a stimulus point after the persistent oscillation of crude oil prices in the near future, pushing up the price of crude oil.

The statement said that the attack took place in the bougug factory near the eastern Saudi city of Dammam and the Hu Lai Si oilfield. The industrial safety team of the oil company has taken control of the fire and the relevant departments are investigating the attack. According to 14 reports of Saudi television Arabia, there were no residential areas near the two attacked facilities, and no casualties were caused by the attack.

According to Reuters, Saudi Arabia's national oil company 14 confirmed that the attack on Saudi Arabia's two oil facilities will reduce Saudi Arabia's crude oil output by 5 million 700 thousand barrels a day, more than half of Saudi Crude's daily output. Saudi Arabian oil company's statement said that the company is working hard to restore crude oil supply to normal, and will release more information in the next 48 hours.


When crude oil "black swan" meets the cyclical demand of the market, what kind of spark will it wipe out?


The "black swan" in Saudi Arabia will probably bring about sharp fluctuations in international oil prices in the short term, which may bring a new opportunity to the textile market for the stagnant market.


After entering the August, the polyester market appeared a more magical phenomenon. The PTA that had once been powerful had not risen. The weaving raw material polyester filament has been kept low. Whether it is the change of international oil price or the news of polyester repair and resumption of production, and even the recovery rate of weaving looms, it seems to have no effect on the price of polyester raw materials, which can be said to be very "Buddhist".


In terms of the opening rate, according to the data monitoring of China silk network, the opening rate of the looms in Jiangsu and Zhejiang provinces has risen rapidly since late August, and it has already come to the high of nearly 9.


In terms of production and marketing, the production and marketing of polyester factories in recent years are basically maintained at 4-6, but there will be a "one day tour" every once in a while. After entering September, the peak appeared more frequently than in August.


In terms of price, the price of PTA fell in July, and after August, it remained at a low level of 5000-5200 yuan / ton.


The price of polyester filament is basically the same as that of PTA. At present, the price of polyester filament is at a low level. The price of FDY150D is only 8300 yuan / ton, which is not equal to the price of over 12000 yuan / ton in the same period last year.


From the above data, we can clearly see that in the process of raising the loom's starting rate, the average production and sale of polyester has picked up slightly. But at the same time, the price of polyester filament or PTA is maintained at a low level.


PTA profits are "letting go".


In June 28th, the PTA profit reached the highest level of 1787 yuan / ton in the year. It can be described as "eating more than half the cake of the industrial chain". Now it has not seen such a situation. As of September 12th, the profit of PTA is only 241 yuan / ton, and it has fallen to the bottom. It can be said that the profit of PTA has been "let no more" now. Once the price of crude oil has gone up, the price of polyester will probably increase in order not to lose money.


Cyclical demand still exists.


Although compared with previous years, the market in September this year looks bleak, but no matter how bad the market is, cyclical demand is there. Whether from the above loom rate or from the market to visit the situation, although the market is not ideal, but overall, the inventory of weaving enterprises is slowing down.


The price of cloth may rise.


For the conventional products such as spring Asian spinning and polyester taffeta, the price of raw materials is ultimately one of the most important factors determining the prices of these products. More than one cloth boss told Xiaobian that the only possible increase in the price of cloth is the rising price of raw materials. Although the rise of cloth prices and raw materials will not greatly improve the profit margins of weaving enterprises, on the one hand, the cloth of weaving enterprises is more valuable. On the other hand, it may give a signal to traders on the market, prompting them to place orders, so as to change the awkward situation of tight cash flow of weaving enterprises.


Weaving enterprises are under greater pressure in the short term.


However, we should not be overly optimistic. Because there are still some phenomena of dumping in the market, there are always many kinds of prices on the same kinds of fabrics on the market, and weaving enterprises are also more nervous because of the high inventory capital chain. Therefore, even if the price of raw materials rises sharply in the short term, the price of grey cloth will inevitably lag behind. In addition, because of the shortage of funds and the low price of raw materials, weaving enterprises generally adopt the strategy of buying and using materials to purchase raw materials, which makes it impossible for them to use stock materials to survive the crisis.


epilogue


The attack on Saudi Arabia is only a sudden occurrence. Although it may cause oil price fluctuations in the near future and cause the price of raw materials to rise, in the long run, the fundamentals of the textile market have not changed much. The excess capacity of waterloom looms and the terminal clothing recession are still bad, and there is no fundamental change in the short term.

For weaving enterprises, there may be a wave of demand in a short time. But when all the dust settles, will the market return to its original form? Source: CCTV finance, China silk net