Events Needing Attention In Polyester Filament June

OPEC + implementation of production cuts agreement, oil prices continue to rise

In the first month of the implementation of the production reduction agreement, other OPEC countries also declined, except for OPEC members. The data from EIA showed that US oil production decreased by 1 million 600 thousand barrels in the past two months, a drop of 12%, and Canada's oil production in Alberta dropped by 1 million barrels / day, with a reduction of 25%. However, when the oil price rebounded, there seemed to be different voices within the OPEC + coalition.

Novak, Russia's energy minister, said recently that the global oil market is expected to achieve a balance between supply and demand in June or July, thanks to the double benefits of a sharp reduction in production and demand recovery. It means that the next stage of production reduction can be reconsidered. Saudi Arabia and other OPEC members also want to adjust production plans, but Saudi Arabia believes that oil market is not so prosperous on the surface. According to market sources, Saudi Arabia is seeking to agree with other OPEC oil producers, hoping to extend the current production plan of 9 million 700 thousand barrels per day to December this year.

It is true that during the month when the production reduction agreement came into effect, the major oil producing countries did not complete their production schedule as scheduled. According to the supply of crude oil promised to OPEC by OPEC producers, the actual oil production in many countries was far higher than that required by the production reduction agreement. The divergence of production agreements will easily lead to a further reduction in oil prices. It can be said that the trend of WTI is a time bomb for the polyester industry.

Measures to deal with antimony pollution in Tai Pu River, Wujiang textile printing and dyeing enterprises or limited production

Since the antimony of Tai Pu River exceeds the standard, all enterprises have limited production 50% since May 31, 2020, and the normal production time will be notified again. Tai Pu River is a water supply channel for Taihu downstream. The textile and dyeing enterprises in the Tai Pu River area are densely concentrated, and the most influential ones are related textile printing and dyeing enterprises in Ping Wang town. ??? ??????

Antimony is a metal with a silver white metallic luster. It has a very small amount of pure metal, while antimony and antimony compounds are widely used in flame retardants, alloys, electronic materials, batteries, chemicals and other fields. Antimony plays an important role in the textile industry. It is an important part of the antimony halide flame retardant system. It is also a common catalyst for producing polyester fibers, and antimony is also found in some textile chemicals such as dyes. The antimony pollution incident will also enhance the attention of relevant industries to environmental protection, and promote the development and application of antimony free catalysts.

Public health incidents have not yet been eliminated. The US incident escalated, and overseas demand increased slowly.

Overseas public health events have not yet been fully controlled. In order to ease the pressure on the domestic economy and people's livelihood, many European and American countries have already released their seals in advance and started to resume their work. The public is worried about the social risks brought about by the early release, such as repeated or two outbreak of public health events, and so on, but greater social risks erupted. The double blow of epidemic and riots. Recently, news media reported that travellers broke into commercial super stores and ransacked brand retail stores such as Nike and Gucci. UNIQLO and H&M stores were also not spared. Overseas clothing stores were affected, and domestic logistics, express transportation and other industries were also implicated. Social unrest and other unrest factors also made domestic export enterprises have a lingering fear.

Since mid May, many European and American companies have resumed their work overseas, and overseas orders have been gradually started. According to some domestic weaving enterprises, the overseas orders that have been suspended have signs of starting, and domestic weaving enterprises are also making advance preparations for autumn and winter fabrics. However, the overseas epidemic has not been completely terminated, foreign trade orders are not sustainable, and domestic textile enterprises' new orders are not enough to support the normal operation of the enterprises. And the summer comes, the high temperature has a certain impact on the weaving industry's starting.

Impulse production and marketing is due to insufficient demand and speculative demand still dominates.

Since the beginning of this year, the production and sale of polyester filament has been pulsed. The purchasing cycle of the downstream has been extended, and the quantity of the first batch has been increased. In particular, in the early April and early May, the two wave procurement nodes were sold and sold at 500%-700% for a single day. At the end of May, the market of polyester filament has been exhausted, and overseas demand is not as good as expected. Domestic demand has been overdrawn in advance in the first quarter, and the risk of polyester filament slipped and slipped under market demand. However, cost side support, polyester filament trend reversal, and by the recent rebound in oil prices continue to rebound, the market gradually increased buying gas, polyester trading volume. Taking today's case as an example, with the support of early cost end, individual enterprises' quotations have been narrowed up, and oil prices continue to rise in the market. The polyester production enterprises in Zhejiang have been buoyed up and buoyed up. Under the guidance of downstream buying and buying, active purchasing has been made. Polyester trading volume and high-end production and sales are in 500%-800%, and the main production and sales of factories are 219%. Admittedly, there is no improvement in terminal demand. As mentioned above, the negative expectation of some weaving enterprises is also mentioned. It also confirms that there is no substantial improvement in demand. At present, speculative demand is dominant in the market, and the short term positive effects of the market will still lead to the cyclical volume of polyester production and marketing.