Crude Oil, Chemical and Fiber Market Week 19

Please check the updated market trend of Week 19:

Data this week – W19


Market this week – W19

Summary: Oil rebound, PTA rose, MEG upward, Polyester chip fluctuated, Polyester filament yarn rebounded, PSF increased, VSF stable.

1,Oil prices closed up this week. Oil prices rose slightly on Monday, as the Texas reduction plan “stranded” and oil prices again encountered upward resistance. On Tuesday, oil prices continued to rise for the fifth consecutive trading day, as easing of lockdown measures drove market optimism. On Wednesday, oil prices closed down, ending the five-day rising momentum as U.S. oil inventories increased for 15 consecutive weeks. On Thursday, crude oil demand rebounded, Saudi Arabia raised its selling price, and oil prices closed down. On Friday, traders and investors bet that the US economy is about to recover from the epidemic. Oil production fell and demand began to recover. In addition, the number of US oil drilling continued to decline, and oil prices closed up on Friday.

2, PTA futures opened higher this week, polyester factories and traders actively replenishment, spot basis rose slightly. However, due to the high processing fee of the PTA plant, the load rate is still maintained at a high level, and the accumulation is expected to remain. With the decline in the production and sales of polyester, the buying mood has dropped slightly. Weekly transaction sentiment was acceptable, with traders selling mainly, and traders and polyester buying. Due to the improvement in demand expectations, together with the rebound in crude oil has given PX price support, and polyester production and sales have also improved in stages, but because the current PTA supply is still high, it is expected to continue to fluctuate around cost line.

3,MEG prices are fluctuating and market negotiations are generally. The polyester production and sales performance during the holiday was acceptable, and the overall inventory did not show significant accumulation, which was better than the previous market expectations. After the holiday, the MEG futures opened higher and the overall price fluctuations were narrower. The spot basis narrowed slightly during the week. It is expected that the short-term MEG market will be strongly fluctuate.

4,Polyester chips rose slightly, mainly driven by the sharp rise in crude oil during the holiday. The market transaction in the second half of the holiday was significantly heated. The transaction volume of polyester chips increased and the price gradually increased. After holiday, the buying sentiment weakened gradually as price went down. At present, the factory inventory has dropped to a low level again, but the terminal demand has not been substantially improved. The social inventory is high and the supply side continues to operate under high load. The short-term upward momentum is still limited. It is expected that the polyester chip market will maintain range fluctuations.

5,Jiangsu and Zhejiang polyester filament yarn prices continue to rise. Following the rebound in end of last month, the yarn price continued to rose during holiday which was stimulated by the significant rebound in crude oil and the news of the relaxation of the lockdown in many countries. The terminal restarted the looms while increasing yarn stocks. The price of polyester yarn in southern China has moved up slightly. In the export market, recent export quotations partially increased followed the rise in the domestic market. Foreign customers also have expectations of the easing of lock down, so export inquiries have increased recently, but actual transactions are still relatively limited.

6,Polyester stable fiber prices rose and transactions were smooth. As rebound in oil and demand expectation, downstream spinning mills and traders replenished actively, resulting in smooth sales of PSF during the holiday and a rapid price increase. After the price rose, transactions decreased and the market kept wait and see. Regarding to Non-woven fibers, transaction continued to fall; the coarse denier was no longer in demand; the low melting fiber prices fell to initial position; Hollow staple fiber prices continue to decrease. After the staged replenishment of positions, the market entered the digestion stage, as the PSF factory had no or low inventory, and the short-term PSF is expected to be strong stable.

7,Viscose staple fiber price is tentatively raised in the context of a large number of orders were signed last week.The viscose fiber factory canceled the discount for big order implemented last week and new quotation rose. Some of the previous orders that have not been confirmed before the holiday are still being confirmed this week. The new high price is in a state where there is no market. On the export side, with the easing of the lockdown situation in some overseas countries, the pending orders left over from the previous period began to be renegotiated, and the number of inquiries increased slightly.

Polyester staple fiber machine manufacturer

PP melt blown fabrice machine

KN95 N95 Full automatic Mask machine

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