Crude Oil Slump PTA Or Continue To Explore

　　 Message side:

1. The S-OIL100 10000 ton PX device in South Korea has been shut down at the end of February, and the parking time of the factory has lasted for about 2 months.

2, Korea modern petrochemical plans to stop for 40-45 days in April 2015.

3. Yisheng Petrochemical has cut 10%-20% from the whole line since March 5th, and the original plan was restarted in mid March. Yanda Shanda The restart time of the 1# device is also postponed.

4. Zhuhai BP110 10000 ton PTA device was overhauled yesterday and planned to restart at weekend.

5. The 1 million 650 thousand ton PTA plant in Xiang Lu petrochemical company has 4 million 500 thousand tons in Zhangzhou. PTA The operation load of the plant is 8-9, and the planned output will be reduced to about 5 percent by the end of this month.

　　 Market analysis:

The weakness of crude oil has brought more downside risks to the chemicals market as a whole. PTA has accumulated the pressure of new installations and high inventory. However, raw material PX still has cost support for PTA. PTA manufacturers are expected to reduce production more strongly in the case of production losses. At the same time, the resumption of downstream polyester and terminal looms is also conducive to market demand. Therefore, at this stage, PTA is unlikely to fall significantly, and the short term continues to pay close attention to the support situation near 4700.

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According to the survey, at present, Shandong, Hebei, Jiangsu, Henan and other places of small and medium-sized cotton textile enterprises are restricted by purchasing funds, transportation costs, financial costs and difficulties in the recovery of downstream goods, and so on, and the purchase of cotton and other raw materials has been transferred to the cotton and linen and cotton operators in the mainland and other ways through partial credit or full arrears. A cotton and linen company in Hebei said that the number of inquiries and goods demanded by the cotton textile enterprises in Hebei and Jiangsu gradually increased after the Spring Festival. In order to pick up one vehicle or two cars (one vehicle and one batch), the delivery time was very tight, requiring more shipping to the factory within two days, and paying less than 50% customers.

Most operators directly purchase cotton linen from cotton warehouse or cotton mill nearby warehouse according to the quality requirements of cotton mill, so as to reduce the cost of intermediate transfer. Some middlemen said that since the beginning of March, the mainland textile enterprises have been asking and increasing the price of hand picked cotton in the southern Xinjiang, with a horse value of B1 and B2, but procurement is still mainly "piecemeal".

Judging from the quotation of Xinjiang cotton since the early March, chaos and miscellaneous are still the main characteristics. The price difference between the 3128 level of hand picked cotton in southern Xinjiang, the three regulatory libraries in Akesu, Bachu and Korla reached 200-300 yuan / ton. Due to the relatively large pressure on the southern Xinjiang Railway transportation, there are still a lot of lint piling on the platform waiting for the wagon, plus the pressure that the loan banks need to collect loans in proportion to the end of March. Some of the funds are tight. The cotton prices of cotton processing enterprises urgently need to sell cotton loans are reduced by 200-300 yuan / ton before the Spring Festival, and some manufacturers plan to sell more than 20% in the short term.

And a few cash flow is abundant, the loan ratio is low or no bank loans of cotton enterprises are very calm, on the one hand orderly move to the mainland warehouse; on the other hand observe ICE, Zhengzhou and cotton market supply and demand situation changes, waiting for Xinjiang cotton demand turning point. In March 9th, the 3128 class gross weight pick up price in southern Xinjiang was quoted at 13000-13800 yuan / ton, and the price of the dirty cotton was reduced to about 12000 yuan / ton. Many cotton factories and textile factories in the mainland did not send people to the warehouse to see the goods. Instead, they decided to purchase according to the public inspection certificate, with the emphasis on impurity, length, horse value and grade.