Don'T Panic! Behind The Collapse Of The International Oil Price Is The Original Self Rescue And Mutual Help Domestic Product Of The Chemical Fiber Industry Chain.

Yes, we have been witnessing history in 2020. After witnessing the melting of us shares, we witnessed the "negative oil price".

Local time April 20th, international oil prices set a new record - the May light crude oil futures price in May, showing a free fall, falling below 10 U.S. dollars, 5 dollars, 1 dollars, 0 dollars. Until the close of May, us light crude oil futures plunged by about 300%, closing at -37.63 US dollars per barrel, a record low. This is the first time that oil futures have fallen into negative trading since it began trading on the New York Mercantile Exchange in 1983.

Since last night, the textile circle of friends has been painted by this price chart.

Of course, we all know that the fall in oil prices must be temporary. Trump, President of the United States, said: "negative oil prices reflect the financial market situation, not the oil market situation. Goldman Sachs said that the oil price slump is an unprecedented supply surplus in the oil market.

Oversupply? This is really rare in the energy market, but it is happening now and is expected to continue for some time, and how long will it last? The whole world is watching.

Xingzheng futures believes that, with the serious pessimism of demand side, after May, the reduction of global supply under the production reduction agreement can not change the direction of oil price operation. It is expected that oil prices will remain at a broad and concussion pattern at the bottom.

Asked a particularly helpless question, why oil prices will plummet and "negative oil prices" appear? Market analysts believe that the oil exporting countries (OPEC) and the major oil producing countries' production cuts will not be opened until May 1st. The recent surge in demand has resulted in a sharp increase in demand and a serious imbalance between market supply and demand, resulting in a sharp fall in oil prices.

Demand, the "culprit" is still demand, and behind the demand is a new global epidemic.

The overall pressure of chemical fiber industry is huge.

Some enterprises are going against the trend.

Yes, this sudden new crown outbreak is breaking up the history of mankind in a wave. At this moment, the global economy is under tremendous pressure. The National Bureau of Statistics recently released data: in the first quarter, China's GDP fell by 6.8% compared with the same period last year. In the first quarter, GDP decreased by 9.8% compared with the seasonally adjusted quarter. According to the weekly report of China Textile Industry and Economic Research Institute, although the current situation of textile industry resumed production is generally stable, the pressure of business operation has continued to increase.

Recently, the China Chemical Fiber Industry Association released the 1~2 monthly chemical fiber industry operation briefing in 2020. The report pointed out: 1~2 month, that is, the phase of the outbreak of the new crown outbreak in China, the production and operation of chemical fiber industry and the quality and efficiency of the operation are directly affected by the epidemic situation, mainly in the aspects of postponing reemployment, decreasing demand, decreasing load, accumulating inventory and declining efficiency.

Chemical fiber production decreased significantly compared with the same period last year. The report points out: according to the National Bureau of statistics, the output of Chinese chemical fiber in 1~2 months was 7 million 272 thousand and 300 tons, a decrease of 13.64% compared with the same period last year, of which the output of viscose staple fiber was 448 thousand and 300 tons, a decrease of 33.71% compared with that of the same period last year. The output of polyester fiber was 5 million 588 thousand and 900 tons, which was 11.92% lower than that of the same period last year; the output of nylon was 508 thousand and 600 tons, and the ratio decreased by 27.11%; the spandex production reached 122 thousand and 300 tons, up by 4.18% over the same period, and the mask ear belt was used in medium coarse denier. The demand for spandex increased.

The output has obviously declined, and the economic efficiency of the whole industry has also experienced a serious decline. According to the statistics of National Bureau of statistics, the business income of 1~2 chemical fiber industry is 83 billion 584 million yuan, a decrease of 28.39% compared with the same period last year. The total profit was 397 million yuan, a sharp decrease of 74.78% compared with the same period last year, of which the polyester and nylon industry decreased by 132.01% and 15.64% respectively, and the operating profit margin was only 0.48%. The industry suffered a loss of 48.70%, an increase of 10.86 percentage points over the same period last year and a 39.49% increase in deficit companies. Total assets turnover, accounts receivable turnover and finished product turnover rate decreased significantly.

Polyester is the largest proportion of many chemical fiber products. 132.01% of the data fully show that the industry is facing tremendous pressure at the same time, polyester is the downstream product of the oil industry chain, and the collapse of crude oil prices is undoubtedly making the industry worse. However, recently, Rongsheng petrochemical, Hengyi petrochemical and Hengli Petrochemical announced the first quarter earnings forecast. The report indicated that the first quarter results in 2020 will rise sharply, and the main factors are the newly started refinery projects. The integration of industrial chain will undoubtedly enhance the ability of enterprises to withstand pressure in the fluctuating market, but a securities company's research manager told reporters: "crude oil prices plummeted. It is bound to affect the stock of enterprises, but the price of crude oil has fallen a lot in the first quarter, but it has not affected the performance of these leading enterprises. So the extent to which the enterprises in the two quarter are affected by the epidemic is very large. I am afraid it will depend on the final result.

Reduce costs, adjust structure and expand channels

Opportunity is reserved for those who are prepared.

Despite the huge impact of the epidemic, enterprises in the industry have found a way to survive in their predicament.

This reporter learned that, in the first quarter, Jilin chemical fiber group seized the opportunity and reduced the cost of the sales. The manufacturing cost of the four leading fiber units of Jilin chemical fiber decreased significantly compared with the same period last year. The total industrial output value reached 2 billion 837 million yuan, an increase of 0.6% over the same period last year. The total annual target reached 26.7%, the best level in history. The output of the product was 136 thousand tons, an increase of 10% over the same period last year, and 24 thousand tons of fiber direct export. An increase of 77% over the same period, and 63 million 580 thousand US dollars in foreign exchange earnings, an increase of 28% over the same period last year.

Among them, the export of Jilin artificial silk increased by 16.6% in the first quarter. The short fiber system has achieved a 38% increase in spinning speed and an average daily output of 227 tons by tackling key problems such as short process, full cycle, efficiency and cost reduction. At the same time, we should seize the opportunity of rising demand for non-woven fabrics during the period of epidemic prevention and control, actively adjust the production line, and promptly switch to non-woven fabrics, which will create better economic benefits for enterprises.

The acrylic product line actively adjusts the product structure, continuously increases the upgrading of differential acrylic products and promotes the market. The market share of anti pilling fiber reaches 80%. The performance of new products such as fine denier and Chinese velvet fibers has been continuously improved, and the sales volume of high strength acrylic fiber has reached 8500 tons in the foreign market. In the first quarter, acrylic fiber exports directly to 11266 tons, an increase of 17% over the previous year, a record high, which fully reflects the market value of the products.

The patented bamboo fiber has brought into full play the characteristics of antibacterial and bacteriostatic products, and has intensified the development and popularization of the two differential products. It has been effectively expanded in the fields of shirts, bedding, color spinning, towel quilts, non-woven fabrics and sanitary materials. In the first quarter, sales of bamboo fiber reached nearly 10000 tons, up 9% over the same period last year.

On the one hand, Jilin carbon fiber will speed up production and increase application. In the first quarter, the capacity of raw silk increased by 63%, and the sales volume was 3126 tons, an increase of 29% over the first quarter. The small tow carbon filament was successfully applied to the field of surface decoration fabrics, and the tow carbon filament achieved 997 tons of sales, an increase of 233% over the same period last year. The carbon fiber plate has become another new growth point of Jilin chemical fiber. In the first quarter, the manufacturing cost of the four leading fiber units of Jilin chemical fiber decreased significantly compared with the same period last year, and the total expenses decreased by 3% compared with the same period last year.

Watch and help, grow together and win the future.

Leading enterprises undercover the epidemic situation

In addition to strengthening the internal force to cope with the epidemic, the upstream and downstream work together is also a good medicine for the textile and chemical fiber industry to fight against the epidemic.

Recently, Fujian has convened leading enterprises to hold various kinds of video meetings and seminars to study measures to solve practical difficulties. At the provincial and provincial meetings, Wu Huaxin, chairman of Yung Wing Holdings Limited, can always hear the firm comments of the chairman of the wing wing Holdings Group: in the face of the impact of the epidemic, the competent enterprises should play a leading role and be an example of epidemic prevention, and pay more attention to the symbiosis between industrial partners and value partners. Wu Hua said: "under the epidemic situation, the uncertainties in the global market are aggravated. The upstream and downstream enterprises in the industry chain must help each other. The competent enterprises should pay close attention to the symbiosis of the industry partners, work hand in hand to overcome difficulties, and symbiosis can be common prosperity."

If the skin does not exist, the hair will be attached. Under the epidemic situation, no enterprise can be left alone. Downstream businesses will be affected and pressure will eventually be transmitted to upstream suppliers of raw materials. In order to survive this cold winter, in addition to seeking government help, more efforts should be made to save themselves by industry and enterprises. Among them, capable enterprises should be far sighted and strategically inclined to pay close attention to the symbiosis between industrial partners and value partners.

It is reported that since the outbreak of the outbreak, Wu Huaxin led the wing wing Holdings Group, to take practical action to carry out the values of the development of large enterprises. One innovation after another, to actively respond to the market, while enhancing the enterprise's own immunity, it also helps industry enterprises to strengthen their confidence and get rid of the fog and move forward bravely.

It is Wu Huaxin's first step to increase investment in research and development of new products to meet the needs of new product development in downstream enterprises. At present, exports are weak, and industry enterprises need to tap the business opportunities of domestic demand market. In addition to expanding emerging markets, we need to implement differentiated strategies to seize the market with high-quality new products. At this time, Wu Huaxin's R & D team, more than ever, sped around the clock to develop functional, differentiated fibers that meet the market demand for anti-virus, antibacterial, health care and so on.

In order to provide more new products for downstream enterprises, Yung Wing also took the initiative to carry out market research, provide market analysis and forecast for downstream enterprises, make marketing strategy proposals, and cooperate with domestic enterprises to quickly proofing and fast delivery, so as to create better products for downstream enterprises to develop domestic demand market.

In order to help the industry and enterprises to get the most help, in early April, Wu Huaxin submitted a supply chain financing plan to the import and export bank. Supply chain finance relies on the capital, customers, data, credit and other advantages of leading enterprises, and the leading enterprises and their upstream and downstream members of the chain as a member to finance the production and circulation of bills, receivables, prepaid accounts and inventories. In this plan, a total of 100 downstream enterprises in the province were included in the plan, with a planned financing of 3-5 billion yuan. After a week, the import and Export Bank clearly defined the credit ceiling of 500 million yuan to support the plan.

With liquidity, some downstream enterprises will return in advance. "As a leading enterprise, driving the downstream together to survive the cold winter, we have to complete the operation." Wu Huaxin is delighted that he can do anything within his power for the industry.

As Wu Huaxin said, every enterprise is a big tree, only with partners, rooted in fertile soil, grow into a dense forest, this ecosystem can survive. It is only a big tree that has been weathered by wind and rain for a long time. In the face of the epidemic and the collapse of crude oil prices, it is easy for us to fall into pessimism. This is human instinct. But the wheels of the times are always rolling forward. Who will be left behind, who will overcome difficulties and usher in new development? I'm afraid everyone of us is looking forward to this answer.