Polyester Staple Fiber Market Continues To Decline (10.10)

　　 Psf Affected by crude oil and PX plunge, prices continued to decline. Overnight crude oil and PX plummeted, confidence in polyester and short market was frustrated, prices continued to decline. Jiangsu and Zhejiang 1.4D direct spinning polyester and short market quotations surpassed 8750 yuan / ton, leaving the factory with a strong wait-and-see mentality and low trading atmosphere.

Shandong, Hebei, the market is short of price and no market, the quotation continues to decline, 1.4D direct spinning polyester short mainstream newspaper 8800-8850 yuan / ton to send, downstream market will weak, wait-and-see majority. Fujian The price of polyester and short manufacturers dropped by 100 yuan, and the market center of gravity followed the decline. The mainstream of 1.4D direct spinning polyester and short market reported 8650-8700 yuan / ton short delivery, and the buying atmosphere was insufficient.

Shengze yarn The market as a whole is tame. The price of pure polyester yarn has been reduced slightly, 32S mainstream 13000 yuan / ton up and down, 45S mainstream 14000 yuan / ton nearby. Polyester market overall mentality is empty, is expected to be short in the short term market, the price continues to descend the possibility of greater.

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In September 17th, Xinjiang cotton target price subsidy implementation plan was released, Zheng cotton futures market responded immediately, broke through the previous low point support, plummeted for two consecutive days, and finally closed at 13110 yuan / ton limit. Cotton spot market prices also dropped significantly, just more than 10 days, or nearly 10% decline. At the same time, the prices of downstream cotton yarn have also dropped.

Xia Ting pointed out that although the "Kim Gu" season at the moment, but the downstream fabric manufacturers remain high inventory, careful purchase of cotton yarn, cotton yarn sales therefore blocked. Cotton prices continue to be on the spot for cotton prices. At present, textile companies are more afraid to buy Cotton in large quantities, and cotton stocks generally only maintain 10-15 days.

As raw material support weakened and chemical fiber market was hurt, most of the chemical fiber products market in September weakened, especially the whole industrial chain led by PTA, the most obvious decline. Among them, PTA (Hua Dong) ranked second in the textile sector decline, down 7.93% in September. The PTA raw material PX market in September also fell more than 7.85%.

Looking forward to the four quarter, Xia Ting believes that the textile market will continue to weaken. The reason is: on the one hand, high inventory, high production, labor costs, tight funds and other issues have long plagued downstream textile enterprises, weak demand is still the main factor restricting prices.

On the other hand, the cost of raw materials has weakened. The cotton price will be returned to market after Xinjiang cotton direct subsidy rules fall. The price difference between domestic and foreign countries will shrink, and the cotton market will remain weak in the future. Cotton prices will fluctuate at 14000 yuan / ton in 10-11 months, and cotton yarn will drop by 500-800 yuan / ton. For the chemical fiber market, the supply pressure of raw materials PX will continue to increase, and the latter will still be in the weak position.

Summing up analysis, Xia Ting believes that the textile market will still be in decline in October, but taking into account the traditional demand season or postponed to October, the decline will slow down compared with September, the lowest around 900 points.