Polyester Filament: Leading The May Chemical Fiber Market, June Will Present A Trend Of Shock Operation.

Since May, the domestic polyester filament market is showing a trend of upward trend, leading to the entire chemical fiber market, and all kinds of products have risen to varying degrees, of which polyester FDY increased by 11.95%. The trend of the cost side is strong, which is the main reason to raise the price of the polyester filament market.

Raw material end: The crude oil market has formally invested in production reduction since May, and the supply and demand situation continues to improve, and oil prices rise. OPEC+ 。

The PTA market has entered the overhaul with the installation, and the load started from 93% at the beginning of the month to 87%. It is estimated that the 10 million tons / year installation and maintenance plan will be involved in June. However, in May 28th, when the PTA processing interval was 938.45 yuan / ton and the processing fee level was high, no part of the device was expected to be delayed. At present, the macro-economy and the future downstream orders are expected to be better. Therefore, the short term PTA end will continue to operate in a concussion.

At present, the main port stocks of ethylene glycol in East China continue to rise. According to the statistics of long Zhong, the stock in May 28th was 1 million 293 thousand and 700 tons, which was lower than that of last Monday, but it is still at a high level. Moreover, there is no turning point in the overseas epidemic recently. The terminal outlet of ethylene glycol is under greater pressure, and the new capacity of the domestic ethylene glycol two will be more in the future, which will cause the worries of supply in the future market.

Polyester filament:

Source: lung Chung

As of May 9th, the core price of polyester filament POY150/48 market was 5425 yuan / ton, the price of FDY150/96 market was 6050 yuan / ton, and the price of DTY150/48 market was 6925 yuan / ton. From the above, we can see that after the year, the impact of the polyester filament was affected by the epidemic at home and abroad. The low level appeared during the Qingming Festival in April. With the downstream and peripheral capital intervention, the price shock returned to the temperature. However, due to the increase in the downstream foreign trade orders, the volume of orders was slower than expected, and the stock of enterprises increased slowly. The price of polyester was showing a trend of turbulence. Recently, with the opening of the Ningbo area, a new trend has emerged. The promotion of wavelength wire promotes local sales and marketing. The big factories in Jiangsu and Zhejiang are closely following the promotion mode at the end of the month. However, most downstream businesses are generally cautious in terms of capital turnover and cautious in the latter market. At present, the POY cash flow is on the edge of the cost line. The cash flow of FDY and DTY is relatively higher. However, the total inventory pressure of polyester mainly depends on the relatively high DTY inventory.

Demand side: As of May 28th, the overall opening rate of chemical fiber weaving in Jiangsu and Zhejiang was 70.29%, an increase of 19.1 percentage points. Although the demand side of the downstream terminal has improved, the number of orders began to decrease rapidly after entering mid May, and the market entered the traditional off-season. The order performance is not stable, and prudence is the main reason for raw material purchase. If the follow up order can not be followed up in time, the possibility of loom load reduction will not be eliminated in the late June.

To sum up, the recent raw material end shock support, the current cash flow of polyester filament is generally acceptable. In June, Hengli and Rongsheng PET filament device are expected to restart. Later, foreign trade orders are expected to be better or better. Therefore, polyester filament is expected to be low or low in the future, but the rising space is also limited.