Oil Prices Jumped 300%, Weaving "A Long Drought To Meet The Rain"! Polyester Raw Materials: A New Round Of Market Outlook Is About To Break Out?

Recently, Saudi Arabia announced that it would voluntarily reduce output by 1 million barrels outside the OPEC+ plan in order to maintain the stability of the global energy market. For a while, oil prices rose violently. Six point five Since the US dollar / barrel, it has turned over 300%!

When crude oil surged and plummeted, and in the medium to long term, it moved towards a rising trend. Domestic chemical raw materials finally ended the first quarter price decline, and the rise in oil prices led to a rise in prices of PTA and ethylene glycol.

In the case of polyester raw materials prices rose, polyester production and marketing once reached nearly 200%, another phenomenon of closing sales. The new round of market outlook has arrived, so can this round of market continue?

US crude oil broke through 30 US dollars as an important support. Goldman Sachs: oil prices are unlikely to drop sharply.

Driven by Saudi Arabia's OPEC+ oil producing countries' signs of reduced production and demand recovery, the market began to become optimistic about the demand for oil market, and the international crude oil futures rebounded strongly.

There are also some bright spots in demand as the oil exporting countries (OPEC) and other major oil producing countries cut production. Data released on Friday showed that China's demand for crude oil in April rebounded, as refineries increased production. But market sentiment is still cautious, because the new crown is far from over, and the newly released cluster has been infected.

Production cuts will accelerate the pace of global inventory clearance. The U.S. Energy Information Department (EIA) said on Wednesday (May 13th) that crude oil stocks declined for the first time in May 8th, after 15 consecutive weeks of growth. On the 18 day, the US crude oil 06 broke through 30 US dollars. Six point five Since then, it has turned over 300%.

Wall Street investment bank Goldman Sachs said that the risk of a sharp drop in oil prices has been reduced as the market has regain its equilibrium speed, has gradually lifted the new coronal blockade and the production rate has decreased faster than expected.

Goldman Sachs said the biggest area of demand improvement is the use of gasoline for road transport in China, the United States and Germany, but Goldman Sachs reiterated that it needed time to return to normal level.

Goldman Sachs said, we believe that the next stage of the rebalancing of the oil market will be the spot price range fluctuation, the most obvious change is the implied volatility decline, and the forward price curve has continued to flatten under the situation that the forward price has not yet risen.

Downstream demand stage recovery, weaving orders drought for a long time!

Oil prices rose, polyester manufacturers released price rises, weaving enterprises took advantage of rising prices to buy raw materials, and traders saw the price of raw materials to increase orders, a wave of the market thus produced. However, in face of the possible rise in prices, will weaving companies always buy it? Can weaving enterprises be able to buy? In the final analysis, we need to see the recovery of market demand.

In terms of starting rate, after May, the opening rate of water jet looms in Jiangsu and Zhejiang provinces has risen from 65% to 70%, and the rate of start-up has increased, and the demand for polyester raw materials will naturally increase.

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The number of fabric inventory in weaving enterprises has gradually decreased, which has dropped by 2 days compared with the highest point in the end of 4. Now there is about 40 days of billet storage.

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The manager of a Oxford production company, Shi Shi, said: "we planned to increase production intensity after the Labor Day holiday in May, but we did not expect the price of raw materials to rise in May, and received several new orders, so the original production plan ran aground."

The increase in the number of orders for weaving enterprises in May is not a case in point, "Zhou Jie, head of a jet weaving manufacturer, said." recently, 100 thousand meters of Tencel and some cotton orders are still much worse than the previous two years, but compared with March and April, the situation in May is really much better.

It can be said that after entering the May, the textile market finally had a bit of the traditional peak season, traders began to move, and weaving enterprises finally received a long order. Under such circumstances, in the face of rising prices of raw materials, cloth boss has the strength to buy it.

The momentum of polyester raw materials is strong. Is the price rising really coming?

The market of chemical fiber raw materials has finally cleared up. Is the rising market strong enough to show that the new wave of price rises will be strong?

Demand for raw materials in the upper and middle reaches has rebounded. At the same time, the epidemic situation in other parts of the world has already been controlled in the 21st century. In addition, the European Union and other countries have concentrated on the economic recovery or monetary stimulus policies. Some of the external orders of the industrial chain terminal products have begun to show signs of recovery. All these are the important reasons for promoting the price increase of polyester raw materials after the festival.

But the virus is still crafty. We still need to be alert to the possible impact of the outbreak on the business. At the same time, since the outbreak of the outbreak, the United States led western countries frequently throw away China. They must always be vigilant against the recurrence of the resumption of Sino US trade war.

As domestic demand has begun to pick up quickly, the recovery of foreign trade will take time. Therefore, in the next period of time, the textile market is still hard to get rid of the situation of "walking on one leg". Without getting rid of this situation, the so-called market may be just another round of cycles.