High Inventory PTA Or Continue To Explore The Price Of Spandex Steadily Weakened

Although the demand for polyester in the lower reaches is coming to an end, PTA's continued downtracking is still a probability event. At present, just need to gradually digest inventory, inventory is showing a slight downward trend, but the overall decline is still relatively slow. The reduction of 250 thousand tons in April 2017 was mainly affected by the compression of processing fees. In April, the PTA factory overhaul increased, and the output in May was about 150 thousand tons. It is estimated that inventory will remain around 1 million 500 thousand in May. From the May PTA inventory change is not obvious, the contradiction between supply and demand of PTA is still outstanding, the judgment of maintaining weak trend in the later stage.

bring a false charge against an innocent person Spandex Market Weak spanactions, cost side support good enough, and downstream user demand continued to slump, the upper and lower margins are intertwined, the spandex market steadily weakened. In terms of price, the mainstream quotation of 20D spandex market is currently maintained at 43000-45000 yuan / ton, and the mainstream quoted price of 30D spandex is 41000-42000 yuan / ton, and the mainstream price of 40D spandex is quoted at 36000-37000 yuan / ton.

The upstream PTMEG market is maintained at a high level, the main manufacturers offer stable prices, the downstream spandex industry needs generally, the raw material purchasing atmosphere is dull, and the market wait-and-see sentiment is heavier. At present, the mainstream quotation in the PTMEG market is 18000-19000 yuan / ton, and the individual quotations are 18500-19000 yuan / ton, and the list is negotiated at 17800-18500 yuan / ton. The downstream circular machine market started smoothly, and the market level of the Shaw market was maintained at 5-6 per cent, and the yarn market began to maintain at around 6. In Zhuji, the operation level of the circular machine market has been maintained at around 5-6 per cent, and the yarn market has been maintained at 6 per cent. The circular machine market in Jiangyin is basically stable in the vicinity of 4.

PTMEG market wait-and-see atmosphere is strong, cost surface support is slightly insufficient, and downstream user demand continues to slump, and in the short term is difficult to pick up, the market as a whole is empty, the parties lack confidence in the market outlook, next week spandex market price There is no lack of stability and weakness. During the week, the market of nylon staple continued to rise, but the margin was limited. At present, the quotation of Jinxiao factory is increasing, and confidence is increasing. At present, the manufacturers of nylon staple fiber are faced with high cost, the purchasing intention is not strong, and the overall supply of the market is tight.

From the cost side, this week Pure benzene The price of the external market was narrowed, with the domestic Sinopec pure benzene listing price being adjusted from 6400 yuan / ton to 6200 yuan / ton. With the price of pure benzene lowered, caprolactam support slightly weakened, and this week parking devices overhaul, resulting in relatively tight market supply. Slicing market is running in a slant fashion, and downstream needs to be purchased.

Short term cost support is strong, but in the medium to long term, slicing price is at risk whenever the supply of caprolactam is expected to increase, or the market will have a negative impact again. If the cost side stabilizes, it will rebound slightly. The main contract TA1709 continued 7 consecutive falls, the price hit a new round of low to 4714 yuan / ton, on the impact of the sudden Shandong Petrochemical explosion on Monday, the bottom of the market pulled up the market, but in the fundamentals did not appear great positive, concerned about the rebound, it is still not appropriate to do more intervention, week pressure reference 4850 lines.

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