Although the traditional off-season has arrived, the polyester market still shows no signs of weakening. Ethylene glycol and polyester filament have rebounded in turn, and the rhythm of downstream buying and buying has not stopped. Entering July, the upstream and downstream prices of polyester have continued to heat up. In the past two days, even PTA, which has not risen much in thousands of years, has joined the skyrocketing market.
In the night trading on Monday (July 10), the PTA futures market started and broke through the 5,000 mark during the session. As of the closing of the night trading, it closed at 5,052 points, an increase of 2.02%.
On Tuesday (July 11), PTA continued to surge strongly. The price fluctuated at high levels during the session, and finally closed at the daily limit of 5,200 points, detonating the polyester market.
No, in the afternoon, the editor checked the WeChat Moments and found that many friends were already forwarding today’s PTA’s mad cow quotes.
It is not uncommon for futures to rise to the limit, but for PTA futures to almost reach the limit, this is a huge trend for the polyester market. Now it seems that the previous rise in ethylene glycol was just a foreshadowing, and now the big brother PTA’s limit is the big deal. This wave of market conditions seems to be extraordinary! !
During the previous peak seasons and maintenance seasons, PTA did not rise so much. Now that crude oil is not strong, what are the big benefits that have caused such a big change? Supply and demand + funds have become the twin engines of the current strong growth of PTA.
Since July, the PTA load has remained slightly above 60%. Although the Hanbang, Yangzi, and Pengwei plants have recently begun to restart one after another, the supply of PTA is still tight for polyester production with more than 80%. What’s more, currently, the supply of PTA spot market is extremely tight. Even if the supply increases, there will not be much change in the supply and demand side of PTA. In addition, the recent commodity market has also been affected by the downward adjustment of expectations for early financial tensions. The overall trend has been relatively strong. In addition to PTA, another textile raw material, cotton, has also been relatively strong recently. Under the long operation, the price of PTA futures will naturally rise.
PTA prices have skyrocketed, and the downstream polyester filament, weaving, and texturing markets have exploded. In the morning, some polyester manufacturers increased prices by 100-200 yuan/ton, and in the afternoon they increased prices by 50-100 yuan/ton. Later, some manufacturers closed prices and stopped selling. It really feels like I am not afraid of goods that cannot be sold, but I am afraid that the price will increase by a small amount.
Polyester manufacturers are going up, but what about the downstream weaving and texturing market? When PTA rebounded slightly yesterday, the production and sales of the polyester market exceeded 100, and the production and sales of individual manufacturers reached 300% or 400%. Today, PTA has reached its daily limit and the polyester filament market has tripled. There is no reason for the downstream not to buy. As of 3 o’clock this afternoon, polyester manufacturers’ production and sales continued to increase, estimated to be around 150%, and some manufacturers’ production and sales were above 300%.
Upstream raw materials are rising, downstream buyers continue to buy, polyester inventories continue to fall, and upstream and downstream are linked. The polyester market in July is completely unexpected. At present, both upstream and downstream are in a relatively healthy market operation pattern. With the support of favorable conditions, let the market verify how strong the resonance effect of the market can be and how long it will last!
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