1. Costs are loose and PTA continues to fall! Production and sales continue to be miserable!
During the Spring Festival, with the strong rise in international crude oil prices, PTA received strong support. After the Spring Festival holiday, the price of PTA rose by 305 yuan/ton, an increase of 5.6%. After February 8, as crude oil fell, PTA prices ushered in a continuous decline.
PTA has overcapacity in the upstream and no demand in the downstream. It basically follows the trend of its “big brother” crude oil. After international crude oil rose to 93 US dollars per barrel, it returned to a weak and volatile state. As the younger brother, it followed the pace and fell for two days in a row. The decline of PTA after the beginning of the new year also reflects the market’s concerns about the textile market this year!
Recent polyester filament production and sales comparison table
The continuous decline in production and sales shows that this good start is so short-lived! Shorter than the New Year’s Eve fireworks! Of course, this is also related to the fact that textile companies have not fully resumed work and production. After the Lantern Festival next week, if production and sales are still like this, the upstream inventory pressure will be so great that it will go crazy. The first promotion drama after the new year will definitely come soon!
2. Most downstream companies choose to delay the start of construction due to worker problems!
Operation rate in Jiangsu and Zhejiang regions
The comprehensive operating rate of chemical fiber weaving was 31.10%, an increase of 9.59% from the pre-holiday period. Since the eighth day of the first lunar month, some enterprises have started operations one after another. However, considering that most migrant workers have not yet returned, the operating rate of weaving enterprises is still mainly operating at a low level. It is expected that the resumption of work and production in large areas will be between the twelfth and the fifteenth day of the first month. ushered in the peak time.
Printing and dyeing in Shaoxing area
The average operating rate of printing and dyeing enterprises was 15.00%, with the operating rate increasing by 5.00% from the pre-holiday period and 15.00% year-on-year. It is reported that most of the Binhai New Area has started to supply steam. Most dyeing factories choose to start operations on the tenth day of the first lunar month. Most workshops continue to be parked, mainly because workers are not in place. It is expected that the arrival time of large areas will extend to around the fifteenth day of the first lunar month.
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