Production And Sales Are Weak, And The Price Of Polyester Yarn Is Still Low
Apr 28, 2019
This week, the market for polyester filament yarns fell weakly. The average market price of semi-light POY150D/48F, DTY150D/48F and FDY150D/96F was 8910 yuan/ton, 10375 yuan/ton, 9330 yuan/ton, down 2.30%, 2.12%, 2.81. %. During the week, PTA prices stopped falling and rebounded, but MEG prices continued to fall.
The performance of polyester raw materials market is different, but the terminal weaving orders are not ideal, the industry's purchasing mentality is cautious, and the polyester factory production and sales data is generally weak. In addition, near the May 1st holiday, the market sentiment mentality has increased, polyester factories have cut prices, and it is expected that the polyester filament market will remain empty in the short term.
Raw material end support fatigue
PTA: PX prices fell sharply last week, causing the PTA price to move down in a narrow range. Due to the news of the massive repurchase of mainstream factories, the PTA price decline was limited. This week, the US sanctions against Iranian crude oil were exempted, resulting in a rebound in crude oil prices. After the cost-side PX fell sharply, the short-term PX downside was limited. On the device, Fuhai's 4.5 million tons/year PTA plant was originally planned to be overhauled in May. The possibility of delaying overhaul is too large. It is expected that PTA will be dominated by shocks under the influence of no new positive factors.
Ethylene glycol: This week's performance continued to be in a downturn, and the mainstream transaction in East China was at 4,525 yuan/ton. Although the stocks of Huadong Wharf have expected to be reduced, some enterprises have shrinkage expectations on the supply side. However, before the festival, the performance of the polyester end is not good, and the demand for purchase is mainly based on demand. The short-term ethylene glycol market remains weak.
Supply pressure rises
From January to April, the polyester filament market was able to increase in volume and price. However, at the end of April, the market price and profit of the polyester filament yarn both fell. The supply and demand fundamentals of the polyester filament market were soaring, which also laid a hidden danger for the subsequent market trend.
According to statistics, on April 23, Rongsheng 300,000 tons of equipment was normally driven after maintenance, and it is expected to be normal at the end of the month. In addition, Jiaxing Yipeng added 250,000 tons of new polyester equipment. After the normal driving on April 17, the load of the equipment was gradually increased. Before the onset of the heat, the operating rate of the polyester filament factory remained stable. As a result, the output of the polyester filament market will continue to grow in May.
At the end of April, due to the dual effects of weak cost driving and weak downstream demand, polyester filament factory inventory is slowly accumulating. It is expected that in May, polyester filament factory inventory will accelerate or accumulate, and market supply pressure will continue to rise. .
Demand side production and sales are sluggish
As of this Thursday, the overall inventory of the polyester filament market is concentrated in 15-23 days; in terms of specific products, POY stocks are concentrated in 6-11 days, FDY stocks are around 12-17 days, and DTY stocks are around 23-29 days. . The production and sales situation averaged 6-7%, and the market sentiment was sluggish.
On the whole, the inventory pressure of the polyester filament factory is relatively ideal at the present stage, but the terminal market is crying. It is reported that the polyester yarn inventory is transferred to the terminal factory warehouse or processed into finished product inventory, resulting in high production and sales of polyester filament. Downstream grey cloth market orders are light, product inventories are on the rise, and in the case of poor profitability, local areas may start to control inventory increase or decrease slightly.
In summary: In the near term, the market for polyester filament yarns may continue to fall. Recently, the overall production and sales data of polyester plants are weak, and the inventory level of the industry is generally rising. Coupled with the decline in terminal weaving shipments, some factories plan to stop work for 3-6 days during the May 1st holiday, resulting in the market for polyester filament yarns still being empty.
