Demand And Cost Superposition Of PET Filament Market Fall

According to the price monitoring of business associations, the market prices of PET filament in China continued to decline slightly this week. At present, the mainstream factories in Jiangsu and Zhejiang are reporting polyester POY150D/48F at 4850-5050 yuan / ton, polyester DTY150D/48F at 6500-7000 yuan / ton, and polyester FDY150D/96F at 5350-5550 yuan / ton. In the early April, after a record low of nearly 10 years, before the Qingming Festival, the price of polyester filament was ushered in a small wave. Many weaving and trading enterprises believed that the time of bottom reading was coming. Besides purchasing just now, a large amount of raw materials were stockpiling. Although the drop is not as big as expected, it is a miserable sight compared with the price at the beginning of the year, with a decrease of 30.66%, 22.15% and 28.09% respectively.

　　 In the past 7 days, the average price of polyester filament market has dropped.

product	2020-4-16	2020-4-23	Rise and fall in recent 7 days	Fluctuation in the beginning of the year	Year on year rise and fall
Polyester POY (150D/48F)	Five thousand one hundred and eighty-four	Four thousand nine hundred and fifty-four	-4.44%	-30.66%	-44.61%
Polyester FDY (150D/96F)	Five thousand six hundred and thirty-one	Five thousand four hundred and eighty-one	-2.66%	-28.09%	-41.22%
Polyester DTY (150D/48F low elastic)	Seven thousand and twenty-six	Six thousand eight hundred and seventy-six	-2.13%	-22.15%	-34.36%

The cost side collapsed, and the crude oil market, which delivered the WTI crude oil contract in May, fell to zero for the first time on Monday, and the panic selling on Tuesday spread to the June delivery contract. On the 21 day, the WTI crude oil futures contract in June triggered at least three fuses. The intraday price dropped nearly 70%, and the lowest price reached 6.5 USD / barrel. In terms of PTA, in April 22nd, the futures contract of PTA of Zheng Shang Limited was closed. The main 2009 contract closed at 3128 yuan / ton, compared with the previous trading day, a decrease of 200 yuan / ton, or 6.01%. The spot market average price was 3211 yuan / ton, showing a low level in the past 10 years. In terms of installations, Ningbo Yisheng 2 million ton PTA plant has been suspended for a short period of 4 days. Shanghai Jinshan Petrochemical's annual output of 400 thousand tons PTA plant is scheduled to be overhauled in May 6th and planned to be overhauled for 28 days. PTA factory start-up load has dropped slightly, but it also maintained a high level of over 88%. At the same time, the stock market is above 3 million tons, and the supply pressure is still large.

　　 Recent changes in PTA device statistics

manufacturing enterprise	Unit capacity (10000 tons / year)	Device operation dynamics
Ningbo Yisheng	Two hundred	Plan to stop for 4 days.
Ningbo Yisheng	Two hundred and twenty	Postponed maintenance until May
Shanghai Jinshan Petrochemical	Forty	The plan is scheduled to be overhauled in May 6th and scheduled for 28 days.
Tianjin petrochemical	Thirty-four	It was overhauled in April 17th and planned to be overhauled for 1 months.
Hon Bang petrochemical	Sixty	Warming up at the end of last week.
Oriental Petrochemical	Fifty	Parking inspection and maintenance from April 20th to July
Fossilization	Ninety	Parking in March 9th, planned to restart in July
Jialong Petrochemical Company	Sixty	Car maintenance in August 2nd, restart time to be determined

In the downstream weaving Market, most enterprises have no orders to do now. No matter from the cancellation of foreign trade orders to the insufficient follow-up of domestic trade orders, the market situation has suffered a setback. In past years, "golden three silver four" was the best time to inventory, but now the market is very dull, proofing and inquiry are very few. Lead to continuous accumulation of manufacturers' inventory. At present, the inventory of grey fabric in Shengze has risen to about 42-43 days, which is basically the same as last year's highest inventory. In the first quarter of 2020, the total export volume of textiles and clothing in China was 45 billion 260 million US dollars, down 17.7% from the same period last year, of which 22 billion 690 million US dollars in textile exports, 14.6% lower than the same period last year, and 22 billion 570 million US dollars in clothing exports, down 20.6% over the same period last year.

Xia Ting, a business analyst, believes that at present, the downstream textile market is hard to pick up, the demand for raw materials is insufficient, the market turnover is cold, and production and marketing will continue to slump. At the same time, crude oil, as the source product of polyester market, has reached the limit of storage space and encountered a rare slump. On the whole, the demand and cost overlay, the polyester filament market is still under pressure, and the price will continue to weaken in the near future.