According to the price monitoring of the business agency, the domestic polyester filament market rebounded slightly this week, of which the most obvious increase was polyester FDY, with a weekly increase of 5.41%, followed by polyester POY and polyester DTY, with an increase of 3.37% and 2.93% respectively.
Average market price of polyester filament, unit: yuan / ton
Product: up and down on May 15, 2020, up and down on May 22, 2020
Polyester FDY (150D / 96F) 6006 6331 5.41% – 22.28%
Polyester POY (150D / 48F) 5334 5514 3.37% – 29.97%
Polyester DTY (150D / 48F low elastic) 7045 7251 2.93% – 24.17%
At present, the price of polyester poy150d / 48F, polyester dty150d / 48F, polyester fdy150d / 96F and polyester fdy150d / 96F in mainstream factories in Jiangsu and Zhejiang are reported as 5400-5600 yuan / ton, 7000-7400 yuan / ton, and 6150-6450 yuan / ton respectively. The trend of cost end is strong, which further increases the market price focus of polyester filament, but the downstream replenishment is weak and cautious, so the increase is not very large.
The crude oil market, supported by the supply contraction exceeding expectations and the demand turning better, shows a pattern of fluctuating and rising prices. At the same time, this week, with 400000 tons of PTA units of Shanghai Jinshan Petrochemical Co., Ltd. and 2.2 million tons of PTA units of Hanbang Petrochemical Co., Ltd. entering into maintenance, the starting load of domestic PTA dropped to 87%. Overlay PTA supplier to buy back the spot again, multiple positive driven by PTA period spot price continued to surge. As of May 22, the average price of domestic PTA spot market was 3560 yuan / ton, up 3.62% from the beginning of the week, down 40.9% year-on-year, but on May 22, the price fell back and adjusted, down 1.99% one day. In terms of inventory, at the beginning of the year, the production capacity was put into production with high start-up rate, and the current social inventory is more than 3.5 million tons. In June, Zhongtai, Yisheng and Yizheng devices have maintenance plans, and the inventory pressure is expected to ease. In terms of processing fee, PTA processing fee has fluctuated between 700-800 yuan / ton since May, which is undoubtedly on the high side in the current stage of overcapacity, mainly due to the weakness of the upstream PX link and the continuous interest yield.
Enterprise name capacity device change
Liwan polyester 70 shut down on April 30, restart to be determined
Hanbang Petrochemical Co., Ltd. reduced maintenance on May 9, 2006
Hanbang Petrochemical Co., Ltd. will stop for maintenance from May 19, with a planned maintenance period of 1-2 weeks
Tianjin Petrochemical Co., Ltd. shut down for maintenance on April 17, and restart to be determined
Pengwei Petrochemical Co., Ltd. stopped at night on March 9 and planned to restart in July
Shanghai Petrochemical Co., Ltd. will stop for maintenance in the morning on May 18, with a planned maintenance period of 28 days
Hainan Yisheng 200 plans to stop for maintenance for 12-15 days on June 5
From the perspective of the downstream textile market, the domestic and foreign trade markets have recovered to a certain extent since May, and the domestic demand has gradually recovered. The orders in the weaving market have slightly improved compared with the previous period, the goods are better than the previous period, the enthusiasm of manufacturers has increased, and the loom operating rate has risen by more than 62%. Some overseas countries announced the release of the seal, and the export was also quietly launched. It is reported that orders from Europe, the United States and Southeast Asia have been placed in succession recently. In terms of exports, according to the latest statistics of the General Administration of Customs of China, in April 2020, China’s textile and clothing exports reached US $21.361 billion, an increase of 38.43% month on month and 9.77% year on year. Among them, the export value of textiles (including textile yarn, fabrics and products) was 14.620 billion US dollars, up 49.36% year on year; the export value of clothing (including clothing and accessories) was 6.739 billion US dollars, up 30.31% year on year. From January to April, China’s cumulative export of textiles and clothing was 66.626 billion US dollars, down 12.06% year on year, of which the cumulative export of textiles was 37.311 billion US dollars, up 2.90% year on year; the cumulative export of clothing was 29.308 billion US dollars, down 22.33% year on year.
Xia Ting, an analyst at business club, believes that with the strength of crude oil and the increase of PTA device maintenance, the polyester filament market is stable and rising driven by the favorable cost side. However, it is worth noting that PTA’s “high inventory, high processing costs, high operating rate” problem has not been fundamentally solved, and the market continues to rise under pressure. At the same time, the internal and external trade of the downstream terminal recovered slowly, and the order performance was not stable, and the raw material procurement remained rigid. If the follow-up orders could not be followed up in time, the possibility of the loom load reduction again could not be ruled out in late June, and the substantial recovery still needs to be observed. In the short term, near the end of the month, the terminal textile enterprises may face a wave of purchasing actions, which will still form a certain support for the price. The future market will still pay attention to the change of raw materials and demand end, or there is a possibility of falling.