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Chemical fiber industry: This year's "Golden Nine" has not risen as much as in previous years
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Chemical fiber industry: This year's "Golden Nine" has not risen as much as in previous years

  • Categories:Industry News
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  • Time of issue:2020-08-22
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(Summary description)In July and August of this year, polyester filament manufacturers generally gained a lot. Due to the tight supply of FDY products, the profit level per ton is high. The revenue of DTY and POY products is relatively weak. DTY products benefit from the lagging nature of their price changes, and during the period of falling POY prices, their profit levels have fallen slowly. Although POY began to turn losses into profits in early July, it fell to the edge of profit and loss in mid-to-late September.

Chemical fiber industry: This year's "Golden Nine" has not risen as much as in previous years

(Summary description)In July and August of this year, polyester filament manufacturers generally gained a lot. Due to the tight supply of FDY products, the profit level per ton is high. The revenue of DTY and POY products is relatively weak. DTY products benefit from the lagging nature of their price changes, and during the period of falling POY prices, their profit levels have fallen slowly. Although POY began to turn losses into profits in early July, it fell to the edge of profit and loss in mid-to-late September.

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2020-08-22
  • Views:0
Information

In July and August of this year, polyester filament manufacturers generally gained a lot. Due to the tight supply of FDY products, the profit level per ton is high. The revenue of DTY and POY products is relatively weak. DTY products benefit from the lagging nature of their price changes, and during the period of falling POY prices, their profit levels have fallen slowly. Although POY began to turn losses into profits in early July, it fell to the edge of profit and loss in mid-to-late September.

Polyester filament yarns had similar trends with WTI crude oil and PTA prices before July this year. From July to August this year, due to the G20 summit, major POY manufacturers recalculated the daily quotations of processing fees to raise prices. This is also the main reason why the prices of filaments remain high in the later period. The prices of crude oil, PTA and polyester filaments rose in early September, but the prices of downstream fabrics are difficult to increase, profits have shrunk, and shipments are sluggish.

In the past July and August, the price trend of all varieties of polyester filament was basically the same. Due to the influence of the joint quotation factor, even if the POY price weakens briefly, it will rise rapidly afterwards. The prices of FDY and DTY products with a certain lag cycle were basically supported by prices before they could follow the decline, and the prices were relatively stable. After mid-September, there was no obvious change in the price of raw materials. The transaction volume of fabric products in China Textile City increased sharply, while the production and sales volume of filaments did not increase significantly, and the prices were in a state of consolidation for a long time.

"Golden Nine and Silver Ten" is the traditional peak season for the chemical fiber industry, but this year's "Golden Nine" has not seen a sharp rise in the market as in previous years. Although market analysts are not pessimistic about the October market, the flat market still makes people feel weak. This year, after a strong surge in the prices of WTI crude oil and PTA in the first half of the year, the prices of WTI crude oil and PTA remained within a narrow range for a long time. There were occasional small fluctuations, which could not form a "tornado" effect on the downstream market, thus losing the influence on downstream price fluctuations. Influence.

Due to the inconvenience of transportation during the G20 summit, the parking of a large number of polymer spinning devices, and the continuous increase of quotations by polyester filament factories, downstream textile companies have been stocking up in advance and driven by the psychology of "buy up and not buy down", and purchases have increased. However, crude oil and PTA futures prices were not trending well, which restrained textile factories' willingness to purchase to a certain extent. Therefore, the market transaction volume in September this year and the production and sales rate of polyester filament factories were insufficient compared with the same period last year.

The operating rate of looms in Jiangsu and Zhejiang has been maintained at a level of 70% to 80% for a long time. However, the product transaction volume of China Textile City is obviously insufficient compared with the same period last year. Although there was a wave of "retaliatory" price increases before the G20 summit, However, during the summit, prices were sluggish as expected and did not improve until mid-September. It is expected that the market outlook can remain at a relatively high level.

To sum up, although the polyester filament market has improved in the second half of September, the upstream and downstream have not been able to coordinate and promote the polyester filament market to rise. It is expected that downstream textile companies will still be at the peak of shipments in October, and with the digestion of the previous inventory, the polyester filament market in October will be slightly better than September, but it seems that there is still a lack of momentum to move higher, and the pace of transactions is expected to be slow. , The transaction center fluctuates within a narrow range.

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