Rising Oil Prices, Polyester Raw Materials Continue To Drop, Jiangsu And Zhejiang Xiaoshao Polyester Is Still Depressed

PTA in East China in November 4, 2011

First, from November 5th to 7th, Jiangsu and Zhejiang Xiao Shaoxing as a whole

By the end of November 4th, the New York Mercantile Exchange, Texas light crude oil futures price in December closed at $94.26 / barrel, up 0.19 U.S. dollars / barrel; London market Intercontinental Exchange Brent crude oil futures in Beihai closed at 111.97 U.S. dollars / barrel, rose 1.14 U.S. dollars / barrel.

In November 4th, Asian PX prices rose 32 US dollars / ton to 1428 US dollars / ton FOB Korea, and European PX price rose 15 US dollars to 1341 US dollars / ton FOB Rotterdam.

In from November 5th to 6th, the polyester market prices in Jiangsu and Zhejiang provinces were still relatively low, and polyester prices continued to fall.

Because upstream polyester raw materials PTA, MEG and Jiangsu and Zhejiang semi glossy polyester chip, glossy polyester chip prices continued to decline, and because of the European debt and American debt crisis, the international market demand is weak, outside the single downstream cloth marketing is lighter, the weaving factory polyester shopping has shrunk, spinning mill inventory rate has increased, due to the fundamentals of bad factors increased, spinning factory panic psychology breeding, silk price down for a long time.

Recent upstream polyester raw materials continue to decline, pulling the market of Jiangsu and Zhejiang polyester market vulnerable downward trend, the current polyester market overall wait-and-see atmosphere is thickening, spinning production and sales are much lower, due to the increase in polyester stock rate, spinning enterprises to reduce shipments intention increased.

In November 7th, Jiangsu and Zhejiang polyester market continued to show a downward trend, polyester enterprises quotations still fell, polyester prices continue to fall.

On the morning of 7, the price of silk in some polyester factories continued to drop by 100 - 600 yuan / ton, and the decline was increased.

The trend of polyester sales is still weak. Spinning factories are dominated by shipments, and the polyester market is at a low price.

Due to the weak market demand, the shortage of public fabrics, the rising cost of labor, the difficulty of raising the fabric price of the masses, the compression of the profit margins of the weaving mills, and the low market outlook.

The wait-and-see mentality of the downstream textile mill is increasing. Due to the temporary change of the basic situation of the downstream terminals, the polyester Market in Jiangsu and Zhejiang is still not performing well. Because of the continuous increase in the stocking rate of polyester, the decline of silk price in polyester factories has increased.

At present, the downstream market is partly weakening. Because of the weak international market demand, the downstream weaving mills are mostly digesting their own stocks. Due to the tight financial chain, some small and medium-sized factories are at the edge of profit and loss, and some small and micro mills are in a state of loss, and the downtime rate has increased.

Among them: Zhejiang polyester market continues to weaken, polyester market prices continue to fall, Jiangsu polyester market is weakening, silk price decline is difficult to stop, production and marketing continue to fall.

In November 7th, the polyester Market in Zhejiang market continued to weaken, and the focus of polyester prices continued to decline.

Zhejiang market on the 7 day Xiaoshao market polyester manufacturers some varieties of quotations still fell, Xiaoshan polyester market prices down polyester factory quotes fell, Xiaoshan polyester factory prices fell 300 - 400 yuan / ton, the decline has increased, POY150D/144F now quoted 12300 yuan / ton.

On the 7 day, the polyester Market in Tongxiang market was relatively stable. The price was relatively stable. There was still a discount for the actual paction. Now the POY150D/48F quotation is about 12300 yuan / ton.

The polyester Market in Jiangsu market continued to be weak in November 7th, and the quotations of polyester enterprises were stable or falling.

On the 7 day, the mainstream of Shengze market, a direct spinning large factory, quoted DTY silk price down 300 yuan / ton, DTY150D/144F six months acceptance price 15400 yuan / ton; Shengze market melt spinning big factory polyester price quotation relatively stabilized, DTY75D/144F cash quoted price 17300 yuan / ton.

On the 7 day, the price of polyester Market in Taicang market decreased steadily. The polyester enterprises reflected that production and sales still had a fall.

In November 7th, the PTA internal market showed a weak adjustment trend. The PTA spot market showed a weak trend of adjustment. PTA quotations were still weak. The actual negotiating price was near 8250 yuan / ton, and the market price of PTA internal market still fell.

On the 7 day, PTA's external market was slightly soft, and the actual price was around $1085 / ton, and the price was slightly soft.

In November 7th, the marketing atmosphere of MEG was slightly deadlocked. The actual price of the East China domestic market was about 8650 yuan / ton, and the MEG East China domestic market quotation was slightly deadlocked. The market wait-and-see mentality was thickening.

In November 7th, the MEG imported spot market was slightly deadlocked. The actual price was about $1135 / ton, and the price showed a stalemate.

In November 7th, the mainstream price of semi gloss polyester chips in Jiangsu and Zhejiang markets was near 10550 yuan / ton (cash). The prices of semi gloss chips in Jiangsu and Zhejiang provinces continued to show a downward trend, and the market price center of gravity continued to fall. Most of the market prices were wait-and-see.

By November 7th, the market of Xiaoshao polyester market continued to descend, and the quotation of polyester filament fell down.

Xiaoshan market polyester market continued downward, polyester quotes fell 300 - 400 yuan / ton, the decline has increased, production and sales continued to decline, the lower purchasing watch mentality increased, the actual turnover is light; Shaoxing polyester market is still weak, the quotation is still declining, the quotation is still down, there is still some negotiation concessions in actual business, polyester manufacturers reflect the inquiry atmosphere weakened, polyester sales more sluggish.

In November 7th, Xiaoshao FDY silk market overall weakness, the quotation still fell, Xiaoshan mainstream polyester factory FDY silk still fell; Shaoxing mainstream big factory FDY quotation weak decline, the decrease was around 200 yuan / ton, there is still some negotiation concessions in actual business.

7 Xiaoshao DTY silk market continued weak trend, DTY silk market quotation has stable or fall; Xiaoshan mainstream polyester factory DTY quotations have stable or fall; Shaoxing DTY silk quotation has steady down, the market turnover atmosphere showed slight trend, DTY fine denier silk and DTY porous wire price trend stabilized market weakness, there is still a certain amount of concessions in the actual deal, the market turnover is still weak.

7 Xiaoshao POY silk market weak downward trend, POY silk turnover still shows a slant trend, the downstream wait-and-see mentality is thickening, price trend steady decline; among them, Xiaoshan mainstream polyester factory POY silk market weak downward, POY wire quotation has stable and drop; Shaoxing market POY silk market downward, weaving with POY wire quotation has stable or fall, there is still some negotiation concessions in actual business, turnover is more obvious.

In November 7th Shaw direct spinning 150DPOY/48F mainstream cash price of 12200 yuan / ton, 300D POY /96F mainstream offer 11950 yuan / ton, 75D POY /36F mainstream offer 13600 yuan / ton.

In November 7th, the 150DDTY/48F mainstream of Shaw direct spinning factory quoted 14500 yuan / ton, and the mainstream 300DDTY/96F quoted 13800 yuan / ton.

In November 7th, Shaw direct spinning 150DFDY/96F main quotation price 12450 - 12900 yuan / ton, 150DFDY/85F big bright mainstream price 12900 yuan / ton, 150DFDY/96F big bright mainstream price 12950 yuan / ton.

Two, from November 7th to 10th international crude oil price and PX price trend review:

By the end of November 7th, the New York Mercantile Exchange, Texas light crude oil futures price in December closed at $95.52 / barrel, up 1.26 U.S. dollars / barrel; London market Intercontinental Exchange Brent crude oil futures in Beihai closed at 114.56 U.S. dollars / barrel, rose 2.59 U.S. dollars / barrel.

In November 7th, the price of PX in Asia basically stabilized to 1428 US dollars / ton FOB Korea, and European PX price basically stabilized to 1341 US dollars / ton FOB Rotterdam.

By the end of November 8th, the New York Mercantile Exchange, Texas light crude oil futures price in December closed at $96.80 / barrel, up 1.28 U.S. dollars / barrel; London market Intercontinental Exchange Brent crude oil futures in Beihai closed at 115 U.S. dollars / barrel, rose 0.44 U.S. dollars / barrel.

In November 8th, Asian PX prices rose 3 US dollars / ton to 1431 US dollars / ton FOB Korea, and European PX prices basically stabilized to 1341 US dollars / ton FOB Rotterdam.

By the end of November 9th, the New York Mercantile Exchange, Texas light crude oil futures price in December closed at $95.74 / barrel, down 1.06 U.S. dollars / barrel; London market Intercontinental Exchange Beihai Brent crude oil futures closed at 112.31 U.S. dollars / barrel, down 2.69 U.S. dollars / barrel.

In November 9th, Asian PX prices rose 18 US dollars / ton to 1449 US dollars / ton FOB Korea, and European PX price rose 30 US dollars to 1371 US dollars / ton FOB Rotterdam.

By the end of November 10th, the New York Mercantile Exchange, Texas light crude oil futures price in December closed at $97.78 / barrel, up 2.04 U.S. dollars / barrel; London market Intercontinental Exchange Brent crude oil futures in Beihai closed at 113.71 U.S. dollars / barrel, rose 1.40 U.S. dollars / barrel.

In November 10th, the Asian PX price dropped 39 US dollars / ton to 1410 US dollars / ton FOB Korea, and European PX price dropped 39 US dollars / ton to 1332 US dollars / ton FOB Rotterdam.

Three, November 11th, Jiangsu and Zhejiang Xiaoshao whole polyester Market Comment:

Although the international crude oil prices rose overnight, the upstream polyester raw materials PTA and MEG are still showing signs of weakness. In Jiangsu and Zhejiang markets, semi glossy polyester chips and glossy polyester chips are still relatively weak, resulting in a decline in the polyester Market in Jiangsu and Zhejiang in November 11th. The quotation of polyester enterprises is still falling, and polyester prices continue to fall. The decline in silk prices is between 100 and 200 yuan / ton. Some of the polyester varieties fall by 300 yuan / ton.

The sales trend of polyester and silk in Jiangsu and Zhejiang markets is still weak. Spinning factories are dominated by shipments, and the polyester market is frequently at low prices.

Because of the rising labor costs, the fabric price of the public is difficult to rise, the profit margins of the weaving mill are compressed and the market is generally low.

The wait-and-see mentality of the downstream textile mill is increasing. Due to the temporary change of the basic situation of the downstream terminals, the polyester Market in Jiangsu and Zhejiang is still not performing well, because the stock rate of polyester continues to increase, and the silk price of polyester factories continues to fall.

At present, the downstream market is partly weakening. Because of the weak international market demand, the downstream weaving mills are mostly digesting their own stocks. Due to the tight financial chain, some small and medium-sized factories are at the edge of profit and loss, and some small and micro mills are in a state of loss.

At present, there are 60% to 70% higher boot rates in Jiangsu and Zhejiang provinces, with a low rate of 40% to 50%.

Among them: Zhejiang polyester market continues to weaken, polyester market prices continue to fall; Jiangsu polyester market is still weakening, silk prices have stabilized or fall, production and sales continue to fall.

In November 11th, the polyester Market in Zhejiang market continued to weaken, and the price of silk continued to fall.

Zhejiang market 11 Xiaoshao market polyester manufacturers some varieties of quotations continue to decline, polyester market quotation in Xiaoshan market down polyester factory prices have dropped, Xiaoshan FDY price of a big factory fell 300 yuan / ton, DTY fell 200 yuan / ton, now FDY66D/24F three months acceptance price of 13300 yuan / ton, DTY150D/144F micro net offer 14300 yuan / ton.

On the 11 day, the polyester Market in Tongxiang market was still weak, and the price of silk was still dropping. A mainstream factory price continued to fall 100 - 200 yuan / ton, and the DTY150D/144F price was 14300 yuan / ton.

The polyester Market in Jiangsu market continued to be weak in November 11th, and the quotations of polyester enterprises were stable or falling.

On the 11 day, the price of DTY silk in the mainstream market of Shengze market fell 100 - 300 yuan / ton, and the price of DTY150D/144F is 14300 yuan / ton.

Shengze market, a melt mill Dachang semifinished product has declined significantly due to 10 days, to 11, the quotation is relatively stable, now half light FDY50D/24F cash offer of 14300 yuan / ton, gloss FDY50D/36F cash reported 14900 yuan / ton.

On the 11 day, the market prices of polyester in Taicang were lower and prices were relatively stable. Polyester enterprises reflected that production and sales were still down, and the atmosphere of inquiry was low in the morning market. The cash quotation of POY150D/144F was 12100 yuan per ton.

In November 11th, the PTA internal market showed a stalemate trend, the PTA spot market showed a stalemate trend, PTA quotations were relatively deadlocked, the actual negotiating price was between 7950 - 8000 yuan / ton, and the price of PTA internal market was relatively deadlocked.

On the 11 day, the market trend of PTA external market was relatively deadlocked. The price actually negotiated in the vicinity of US $1045 / ton, and the price trend was relatively deadlocked.

In November 11th, the marketing atmosphere of MEG was dominated by weak adjustment. The actual price of East China's domestic market was about 8250 yuan / ton, and the price of MEG East China domestic market still had a slight drop, and the market wait-and-see mentality was thickening.

In November 11th, the MEG import spot market showed a stalemate trend. The actual price was about $1110 / ton, and the price showed a stalemate.

In November 11th, the mainstream price of semi gloss polyester chips in Jiangsu and Zhejiang markets was near 9700 yuan / ton (cash). The price of semi gloss chips continued to show a stalemate in Jiangsu and Zhejiang provinces. The market price center of gravity was relatively deadlocked. The market was mostly wait-and-see. The market outlook of the lower reaches of the market was still weak.

By November 11th, the market of Xiaoshao polyester market continued to descend, and polyester quotations still fell.

Xiaoshan market polyester market continued downward, polyester quotes still have 200 - 300 yuan / ton decline, production and sales continued to decline, the lower purchasing watch mentality increased, the actual turnover is weak; Shaoxing polyester market is still weak, the mainstream local factories polyester prices have been stable and fell, there is still some negotiation concessions in actual business, polyester manufacturers reflect the inquiry atmosphere weakened, polyester sales are more sluggish, manufacturers reflect 10 days production and sales has dropped to 50% to 60% or so.

In November 11th, the overall market of Xiaoshao FDY was weak, and the quoted price was still falling. The quotation of FDY silk in Xiaoshan mainstream polyester factory fell by 300 yuan / ton, and the price of FDY in Shaoxing's mainstream factory was down 200 yuan / ton.

11 Xiaoshao DTY silk market continued weak and weak trend, DTY silk market quotation steady and fall, polyester factory inventory increased significantly; Xiaoshan mainstream polyester factory DTY quoted price fell 200 yuan / ton; Shaoxing DTY wire quotation has stable and fell, there is still some negotiation concessions in actual business, market turnover atmosphere is still lighter trend, DTY fine denier silk and DTY porous silk price trend stabilized, weak, there is still some negotiation concessions in actual business, the market turnover is still weak.

11 Xiaoshao POY silk market weak downward trend, POY silk paction still shows weak and light trend, the downstream wait-and-see mentality is thickening, the price trend has stable and fall; among them, Xiaoshan mainstream polyester factory POY silk market weak downward, POY wire quotation has steady decline, the actual paction still has certain negotiation concessions; Shaoxing market POY silk market downward, weaving with POY wire quotation still down, there is still some negotiation concessions in actual business, turnover is more obvious.

In November 11th Shaw direct spinning 150DPOY/48F mainstream cash price of 11400 yuan / ton, 300D POY /96F mainstream offer 11200 yuan / ton, 75D POY /36F mainstream offer 12900 yuan / ton.

In November 11th, the 150DDTY/48F mainstream of Shaw direct spinning factory quoted 13300 yuan to 13700 yuan per ton, and the 300DDTY/96F mainstream quoted 13000 - 13200 yuan / ton.

In November 11th, Shaw direct spinning 150DFDY/96F main quotation price 11700 - 12200 yuan / ton, 150DFDY/85F big bright mainstream price 12400 yuan / ton, 150DFDY/96F big bright mainstream price 12350 yuan / ton.

By the end of November 11th, the New York Mercantile Exchange, Texas light crude oil futures price in December closed at $98.99 / barrel, up 1.21 U.S. dollars / barrel; London market Intercontinental Exchange Brent crude oil futures in Beihai closed at 114.16 U.S. dollars / barrel, rose 0.45 U.S. dollars / barrel.