Under The Double Pressure, The Market Of Polyester Staple Fiber Is Still Hard To Say.

Under the background of low oil prices and public health incidents, the market price of polyester staple fiber has not yet been refreshed. However, at the same time, the terminal enterprises began to reduce production when the domestic trade orders resumed slowly and the orders of foreign trade contracted severely. The market panic was once more serious. So even assuming that the price of oil has been basically explored, the weakness of the terminal will be gradually reversed. Short term market prices are still unheard of in polyester, even PTA and ethylene glycol industries.

Polyester staple fiber as an oil based fiber, its price is affected by its raw materials and even oil. In view of the dispute over the share of sand and Russia and the impact of global public health incidents on demand, international oil prices continue to operate at a low level, making the PX and PTA processing fees space relatively comfortable. Specifically, PX-N continues to operate between us $270-290 / ton, and the price difference between the two people last year was only around 230 yuan / ton. Therefore, under the background of weak supply and demand, the relatively relaxed processing fee space is obviously unreasonable. It is even more unexplained than PTA's current processing charge. At present, PTA's social stock is about 3 million 100 thousand tons, and the spot processing space continues to be around 600 yuan / ton. When the supply pressure was too high last year, its processing fees had been compressed to 350 yuan / ton, and at the same time, it is also faced with the expectation that the warehouse is expected to be large and the demand is falling. The background of the production of ester factories is relatively unreasonable, and the factory maintenance / production reduction is not very high. Therefore, based on this background, even if the follow-up oil price has been basically underexplored, but under the demand of bad food, the polyester plant's operating rate is expected to decline. Then PTA and PX will gradually squeeze their processing space under the pressure of supply.

From the demand side, China is a major exporter of textile and clothing. According to the statistics of the General Administration of Customs of China, the export volume of textiles and clothing in China in the 1-2 months was 29 billion 835 million US dollars, down 20% from the same period last year. However, this is only 1-2 months, which is affected by the continuous spread of public health events overseas. After mid March, there was a large number of foreign trade delays or even default. Under the background of shrinking trade, there has been a slight decline in the operating rate of cotton mills and weaving enterprises. Moreover, the stock of yarn and cloth products is increasing continuously, and because of the fast falling of raw materials, the depreciation of the goods is serious. With the increasing pressure of funds, the crisis of the two stoppage of the yarn and cloth factories in April is bigger. Polyester factories including polyester staple fiber will also be affected. Some short fiber enterprises in Fujian have begun to reduce production by about 25%.

So, in the backdrop of demand, even if oil prices are bottom, the market will not be able to quickly explore the bottom of the raw material and polyester staple fiber in the relatively ample space for processing fees; in other words, even after the bottom of the market, the market industry is also unlikely to have obvious reversal market because of the short recovery of demand, and the next 4-5 months will probably run. It's still harder.