March Chemical Futures Rose With Polyester Industry Chain Rising

I believe everyone's circle of friends will be very lively. It will be cleaned up by all kinds of price information.

PTA price rise, ethylene glycol price rise, polyester filament price rise, sealed sale reluctant to sell......

After the February saw saw war, in March, the domestic chemical futures market opened up, and chemical futures rose. Especially, the PTA futures rose sharply, which led to the emergence of the high production and marketing of downstream polyester in advance.

In the short day of 6 days, the whole polyester market seems to have entered the "mad cow" market at once. The polyester filament has risen by 100-300 yuan / ton, and some manufacturers have staged a crazy market price adjustment of two times a day and rising 500 yuan a day.

In the atmosphere of buying or selling, the 6 day production and sales continued to be hot, with an average estimated at around 160-180%. Most people in the industry are optimistic about this market trend. Due to the good anticipation of the future trend, some factories are restricted by low inventory restrictions.

Not knowing what to do is amazing!

It seems that overnight, PTA futures took off again!

Polyester filament is also sealed for sale!

People in the industry have also called out: the market has come for a long time.

Can not help but sigh, polyester industry chain again crazy behind: where is the bottom?

Raw material costs support +PTA device overhauling + futures speculation rise and push up, the industrial chain has been synergistic boost!

Crude oil is at a high concussion. Although Trump had intended to suppress crude oil prices, the news that OPEC+ maintained crude oil production decreased slightly, and the Federal Reserve suspended interest rate increases for commodity markets.

PX and the increase of crude oil, Fuhai 800 thousand tons / year PX device has not been restarted, the 2 quarter of the Asian PX device maintenance is more, China's PTA higher start to PX just need stability, expected in March PX price shocks continued to rise, the cost of PTA support increased.

In early March, the PTA plant was favorable. In March 5th, HP Petrochemical 2 million 200 thousand tons / year and Li Wan Petrochemical 700 thousand ton / year PTA plant failed to stop. In March 6th, Hengli Petrochemical announced that its 3 No. 2 million 200 thousand ton / year PTA plant will start maintenance for 15 days in late March.

Device parking helps PTA futures multi funds continue to rise. In 3-4 months, there are still some PTA installations in Tung Kun and Zhuhai BP to be overhauled. The PTA maintenance plan under demand season is favorable to market mentality.

At present, the supply of PTA is adequate, and there is no logic of speculation. PTA futures unilaterally scrambled up and pushed up PTA spot prices and led to a rise in downstream polyester production and sales.

In addition, the previous industrial chain continued to rise, due to the increase in polyester is far less than raw material gains, resulting in a significant reduction in polyester per ton profit, especially raw silk, at the edge of losses, and then spinning profits have been significantly compressed.

In addition, experienced a production and sales volume, inventory pressure has been significantly reduced, polyester factory is subject to cost factors, can only raise prices to repair its profit space.

Manufacturing industry's negative and value-added tax reduced 3%+, Sino US trade negotiations have been improving, and macroeconomic benefits have been concentrated.

In the early March, the macroeconomic benefits were concentrated: during the 5 sessions of the two sessions, the state has clearly stipulated that "the reform of value-added tax should be deepened, and the current 16% tax rate in manufacturing industries should be reduced to 13%".

According to the calculation, "the theoretical tax can be reduced by 668 billion 400 million yuan at most," and the overall industry concentration and the scale of tax reduction account for two dimensions of the net profit of the industry. The textile and chemical fiber industry is a sector that benefits from the value-added tax reduction.

At the same time, China's two sessions of tax cuts will benefit the manufacturing economy, and speculate that there will be more favorable policies to stimulate economic development in the future.

In addition, the US announces that the "truce" period of the Sino US trade war will be extended indefinitely. At present, the trend of Sino US trade negotiations is good and the market panic is decreasing.

Orders have been issued and expected to be optimistic during the peak season. The peak season for downstream demand is worth looking forward to.

According to the previous market sales practice, the first half of the year will start from March, and continue to ferment to "golden three silver four red five".

After March, the so-called "rotten cloth" spring Asia spinning and Tav, which are commonly known, may appear to be in short supply of all specifications.

And other conventional varieties of gray cloth, market sales will also rise.

From the current signs of various aspects, demand start has been gradually verified this year.

From the current situation of shipments and inventory of major manufacturers, most textile enterprises have many orders at hand. Whether they are domestic or foreign trade, the market is still placing orders.

A trader in Changxin said that it had received more than 500 million sheets since the end of the year. It is not weaker than the same period last year. According to the current order, even if no orders were received, it will be guaranteed after March. Besides, the market is recovering and there will be orders after that, so the pressure in the first half of the year will not be great.

Another producer of silk imitation in Shengze, Wang also said that the demand for simulated silk products is heating up. Manufacturers are busy ordering and shipping products every day. Orders can be maintained at least until the beginning of April.

In addition, it is reported that the dyeing factories in Hebei, Zhejiang, Guangzhou and other places already have gray cloth queuing into the factory, and the market releases positive signals.

As a result, most of the weaving Market people are still optimistic about the March market.

After all, in recent years, market goods have gone crazy in the market, large quantities of orders, coupled with environmental protection and continuous fermentation, and the reduction of the number of machines, making the supply of conventional grey cloth in short supply.

This will still happen after March.

Therefore, although the order situation is not as satisfactory as expected, the grey cloth merchants started to plan for the first half of the year's grey cloth production, and stockpiling more raw materials, so as to ease the expected supply and raw materials rising in tight season.

However, under the optimistic expectations, some people in the industry also have some hidden worries: the downstream polyester Market in February is dull, and the polyester stocks are rising, because the factories such as terminal textiles have consumed the reserves of polyester stocks and new orders are limited, but in the early March, domestic chemical futures rose rapidly, especially PTA increased rapidly, which directly led to the rise of polyester prices and the rise of production and sales, and the terminal replenishment market started ahead of schedule.

At present, the production of polyester POY is in a loss. It is expected that the polyester factory will continue to rise in price, which will drive the terminal to catch up with the atmosphere and shift the cost pressure to the terminal.

However, in early March, the market demand for polyester production and marketing was overdrawn in advance, and the market demand for mid late 3 was still worrying that the production of polyester was difficult to sustain.

At present, the general trend of chemical futures has not changed. The PTA multi fund has a strong upward trend. The upstream PX costs support, and the downstream polyester production and sales rebounded. It is expected that the PTA will remain volatile after the short term market, and there is uncertainty in the production and sale of polyester.