Polyester Short Fiber Price Weak Operation Wait For The Next Node
Last year, Trump and PTA were shocked and criticized for high oil prices. The price of crude oil dropped, the cost side dropped with the decline of crude oil, and some of the polyester staple fibers also fell. Downstream factories were in low inventory and rigid demand was higher than expected. In the short term, the price of polyester staple fiber is weak. In the medium and long term, the price of polyester staple fiber is still falling.
Since the beginning of the post holiday work, PTA has been sorted out without any obvious rise or fall.
As of February 26th closing, PTA spot price closed at 6325 yuan / ton, polyester short fiber Festival along with raw materials concussion also appeared narrow oscillation situation.
The price of PET staple fell by 110 yuan / ton compared with February 11th.
In the short term, this week, the 500 thousand ton polyester plant of polyester filament is resumed, the starting load of polyester will rise to 81.86%, or the consumption of polyester end will be increased.
From the perspective of the supply and demand of polyester staple, the stock level of polyester staple fiber enterprises is not high at present. Due to the overhauling overhaul, the inventory of maintenance factories is low, and the average value of polyester staple fiber Communist stocks is lower.
Short fiber enterprises have been reducing production since December 2018, but the overhaul is mostly concentrated in this month, and the operating rate of the industry has gradually increased.
After the holiday, the production and sale of polyester staple fiber is not good. The reason is that the cotton mill concentrates its stockings before the festival. However, at present, the raw materials inventory of downstream enterprises has been gradually consumed, and the inventory pressure is relatively small. There is a rigid demand for replenishment under the condition of partial cost weakness, which is more than expected.
To sum up, in the short term, in the case of low cost, we should pay close attention to the downstream demand growth node and wait for the next node in the market.
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