Industrial Chain Good Pet Pet Staple Price Will Rise By 100-200 Yuan / Ton.

According to the price data of business associations, the average price of 1.4D*38mm polyester staple in the national market was 6856 yuan / ton by the year November 29th, down 5.09%, or 368 yuan / ton, down 24.82%, or 2264 yuan / ton. Dachang quotes get together in the 6800-7000 yuan / ton interval, are in a wait-and-see state, and remain stable.

The demand for upstream crude oil will drop further next year. It is expected that output will glide 32 million 800 thousand barrels per day by 2020, and the global oil market will remain in excess for a long time due to the increase in output of non OPEC countries. And Russia's attitude towards production cuts has been very vague, and its output data has been different from other countries, and it is consulting whether we can further extend the production reduction agreement or increase production intensity. OPEC oil producers hope to increase oil revenues and protect their own interests in mid 2020, so next week's OPEC conference is expected to extend the yield reduction agreement.

Overall in October, the PTA spot was tight and there was a slight rebound. In October, the maintenance of PTA plant increased. Han Bang Petrochemical Company's 2 million 200 thousand tons PTA plant was scheduled to stop for one week in December 7th. The Jiaxing Petrochemical 1 million 500 thousand ton plant is scheduled to stop at 25 -11 on November 12th. Helen Petrochemical 1 million 200 thousand ton plant is overhauled in December, and Yisheng Hainan 2 million tons plant is on November 22nd -25 days. Therefore, the PTA maintenance tide since October not only offset the impact of new capacity, but also had a drop in the PTA social inventory when the downstream demand was good. Ya Dong Petrochemical's 700 thousand ton plant was restarted in November 27th. The new PTA capacity of 1 million 100 thousand tons of new Feng Ming is expected to be put into operation at the end of November. The 1 million 500 thousand tons of Jiaxing Petrochemical Company will be reinstalled on Monday. Under the condition that the above devices are being restarted in succession, the tight supply pattern of PTA will be eased.

The average price of the downstream 32S polyester yarn in Shandong area is 14440 yuan / ton, up 0.42%, or 60 yuan / ton, down 14.76%, or 2500 yuan / ton. The middle end factory quoted 13500-14000 yuan / ton, and the high-end factory quoted price of 15000-15300 yuan / ton. There is a slight accumulation of yarn in the middle end grey fabric. The inventory of grey cloth in Shengze area is about 38 days, which means that the terminal is slowly going out of stock. The loom load weakening in December will lead to a decline in the load of the polyester plant, and eventually the PTA demand will also weaken. Recently, yarn sales are more stressful. First, there is no obvious improvement in Sino US trade. Textile, clothing and fabric exports will continue to be suppressed. Many textile factories are prudent in operation. Second, orders are generally not strong, and the operating rate of enterprises is relatively low, resulting in insufficient orders for enterprises and buying with them.

To sum up, business analysts believe that the output and demand of upstream crude oil is still playing a further game. Production seems to be a popular thing; most of PTA's devices will be restarted, easing the tight supply pattern; the sale of downstream yarns is still very much in stock, but inventory is slowly being removed. Generally speaking, the upstream and downstream businesses are heading for a favorable direction. The price of PET staple will increase in the short term, or around 100-200 yuan / ton.