In June, which was originally the off-season, there are signs of recovery. Perhaps the market is approaching a turning point?
On Wednesday, WTI crude oil once stood at US$74/barrel. During the session, Brent crude oil futures reached a maximum of US$76.02/barrel, the highest since the end of October 2018.
Brent crude oil prices have risen by more than 45% this year as OPEC+ production cuts and the easing of COVID-19 restrictions stimulate oil demand.
The growing consensus on Wall Street is that there is more room for higher oil prices as the global economy recovers from the COVID-19 epidemic. It could rise significantly.
Francisco Blanch, commodities strategist at Bank of America, said in a research note on Monday that he believes there is reason for oil prices to reach $100 a barrel next year.
Driven by the strong strength of crude oil, the textile raw material market has also been eager to start an upward trend recently!
Polyester factory breaks the promotion cycle, polyester filament stops falling and moves upward
Polyester raw material end Affected by strong support, the polyester filament market has recently seen a three-day compensatory increase, with price adjustments ranging from 200-300 yuan/ton, and the market atmosphere is warmer.
From April to now, this is already the Nth promotion of the polyester factory, and “promotion” has become a daily sales. Judging from the previous promotions, the price of each promotion ranged from 200 to 400 yuan, and there will be a slight correction on the next day, and then the price remains stable. In other words, despite many promotions, the price of polyester filament has fluctuated and stabilized in more than a month, without significant changes. However, a new situation has emerged after the recent promotion. The three-day supplementary increase of polyester filament has gradually made up for the previous decline. On the second day of the promotion, the price of polyester was “raised” again. The promotion price reduction range was 200-300, and the three-day price The increase has exceeded 300, and this time and again, it is basically still showing an upward trend! At the same time, production and sales have performed well in the past two days, and operations have begun to stop falling and move upward.
It can be seen that although polyester filament continues to be promoted, it does not rule out the possibility of rising prices in the future. From the recent rise in polyester double materials, the editor believes that it is reasonable to usher in a wave of price increases in the future. of.
With strong support from the cost side, the market atmosphere of polyester filament has been relatively warm recently. Considering that the downstream weaving industry has recently moderately replenished its positions, and the pressure from downstream environmental protection and production restrictions may restrict the floating space of polyester filament, it is expected that in the short term If there is no significant decline in raw materials, polyester filament yarn prices are still expected to rise depending on inventory and specifications.
The price has increased three times in a month, faster than housing prices. Spandex prices have been adjusted again, and related fabrics have Incidents of stock rush occurred
In addition, in fact, not only polyester has been “rising steadily”, the price increase of spandex has even “risen to the point of doubting life”…
Recently, as a downstream elastic fabric Although manufacturers of spandex, an important chemical fiber raw material, are operating at a high level, inventory levels are still low. In addition, affected by tight supply and strong demand for downstream elastic fabrics, the price increase of spandex remains unabated. Recently, the “price increase king” spandex has been on a strong trend and the price has been raised again. On the 22nd, spandex 20D was raised by 5,000 yuan/ton; 26D was raised by 3,000 yuan/ton; 35D and above D number was raised by 2,000 yuan/ton.
Downstream gray fabric companies could not bear it, and the prices of spandex gray fabrics were adjusted again, most of them increased by 2-5 cents/meter. Although the price increase of gray fabrics this time is not large, as the price of spandex continues to rise, the price of spandex gray fabrics has also increased more than once. At the same time, according to relevant platforms, there has been a rush for four-way elastic and other related spandex fabrics on the market.
Short-term raw material prices are expected to rise again, but weak downstream demand may inhibit the rise
The current domestic epidemic control situation is good, vaccination coverage continues to expand, and China’s textile and apparel demand is improving. The new round of economic policies in the United States has led to an overall improvement in the financial market. Supported by inflation expectations, investment sentiment in the financial market is high. Recently, polyester raw materials have begun to gain momentum. Although polyester filament is still on sale, other chemical fiber products have begun to increase. Among them, spandex is the most prominent, and the price has gone up. Driven by this general environment, other polyester raw materials, led by polyester filament, are more likely to rise in the short term.
However, the current weaving market has shown signs of weakness. With the hot weather and restrictions on starting operations coming soon, the demand for raw materials on the weaving end has further weakened. Polyester factories may have accumulated inventory without reducing their high operating rates. At this time, raw material prices are likely to fall easily but not rise. </p
