During Ching Ming Festival's holiday, the international price of crude oil surged above the $90 mark, but after the holiday, as Israel reduced its military presence in Gaza, it was rumored that Israel and Hamas might make progress in negotiations on a ceasefire agreement and the release of hostages. The crude oil premium caused by tensions in the Middle East eased, and crude oil futures from Europe and the United States fell for the first time in seven trading days. After the opening of trading, polyester raw materials PTA and ethylene glycol futures market began to turn weak. The spot market of PTA in East China fell to around 5970 yuan / ton. This week and next week, the main port and warehouse receipt delivery 05 discount 10-15 near the transaction and negotiation. The market price of ethylene glycol is weak. The international crude oil market fell, the market atmosphere turned empty, and the focus of the ethylene glycol market was slightly adjusted. The quotation in East China was around 4440 yuan / ton, and that in South China was around 4500 yuan / ton.
From the point of view of the supply side, the 2.5 million-ton PTA production line of Hengli Huizhou has been stopped for maintenance since April 7, and the restart time has yet to be determined. The 3 million-ton PTA production line of Jiatong Energy Co., Ltd. began to stop for maintenance on April 8th, and the restart time has yet to be determined. PTA industry starts fell back to around 70% of the level. While the start-up shipment of the new PTA device of Taihua Ningbo, coupled with the new Yizheng chemical fiber plant is about to be put into production, the market supply is expected to increase, and the supply remains relatively abundant. Downstream polyester load will remain high, but enterprise production and marketing is relatively light, the procurement of raw materials to maintain a rigid demand. The international crude oil market fluctuates at a high level, and the cost promotes the market. Short-term market will be mainly shock adjustment. Pay attention to the promotion of international crude oil and market supply and demand to the market.
Recently, the arrival of ethylene glycol port has increased, and the inventory of the main port has begun to accumulate. In the near future, there are more centralized maintenance devices, the market supply remains low, the downstream polyester load remains high, and the demand side forms support to the market. The lack of continuous drive in the market, the short-term ethylene glycol market will remain volatile.
With the weakening of the cost end, while the price of polyester market fluctuates little, the overall profit situation of Chinese polyester enterprises rebounded slightly. Among them, the profit of polyester chip production gradually turned into profit, and the production losses of polyester bottle chips and polyester enterprises continued. So far, the profit of slicing products is 20 yuan / ton, bottle chip products is-200 yuan / ton, polyester filament products profit is-90 yuan / ton, polyester staple fiber products profit is-80 yuan / ton.
Recently, the polyester load in China has risen to more than 90%. Coupled with the launch of new devices, the market supply has remained relatively high. This year, China's textile consumer market continues to have bright spots and popular products emerge one after another, which has stimulated the rapid growth of the terminal consumer market.
The moderate improvement in foreign trade orders and the joint efforts of the textile markets at home and abroad have led to the continued popularity of the textile market in spring. At present, the comprehensive construction of Jiangsu and Zhejiang looms is around 80%, the comprehensive start of texturing is maintained at 94%, and the comprehensive start of printing and dyeing is 90%, which is at a high level in recent years.
At present, the crude oil market is focused on the progress of the situation in the Middle East, and the instability of the geo-situation continues. The high fluctuation of the international crude oil market promotes the formation of the market, the supply and demand of polyester raw material PTA and ethylene glycol market is promoted, and it is expected that the short-term market will be shaken to adjust, polyester raw material end support, polyester market offer will be mainly adjusted slightly with the cost, downstream cautious follow-up, market production and sales are light. Short-term polyester market prices are expected to fluctuate within a narrow range. In the later stage, we should pay close attention to the changes of the raw material market and the supply and demand of polyester itself.
