Weak Demand Restricts PTA Uplink

At present, the demand for polyester industry chain is off season, and the load of Jiangsu and Zhejiang looms is down, and from the historical trend, it is expected to pick up gradually after August.

At present, the production and marketing of polyester industry is weak, polyester polyester cash flow is full line loss, and the enterprise has a strong desire to reduce production.

Data show that as of last Friday,

The operating rate is 75.58%, which has dropped by nearly 10 percentage points compared with the high level of about 85% at the end of April.

As a result, the demand for raw material price increases in the polyester industry is limited before the demand for the final products improves, which restricts the rebound of PTA.

After more than one month

Horizontal market, the recent crude oil futures broke down, NYMEX crude oil contract in August fell below 55 U.S. dollars / barrel.

Therefore, the cost of chemical products will shift downward and the price will follow the weakening of crude oil.

In addition, the current PX and naphtha oil price difference is near $350 / ton.

Processing is profitable.

However, there is news that Sinopec 1 million 600 thousand tons of PX device at the end of June successfully commissioning, at the end of July, there is a possibility of products.

In addition, China's PTA device has cut down production, and the demand for PX has been weakened, so the PX profit has continued to be compressed.

Summarizing the raw material market situation, it is believed that the PTA cost is expected to decline, and the price will continue to be under pressure.

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In 1-5 months, Asia was the main export market for our fabrics. Exports accounted for 65.7% of our fabric exports, and exports amounted to US $14 billion 20 million, up 3.1% over the same period last year.

In the first 5 months of this year, the export growth to ASEAN was relatively stable, the export volume was 3 billion 710 million meters, an increase of 7.6% over the same period last year, and the export volume was 6 billion 380 million US dollars, an increase of 9.2%.

Among them, the most obvious increase in exports to Malaysia was 410 million US dollars in exports, an increase of 18.2%; exports to Vietnam, Kampuchea and Burma also rose to varying degrees, with exports of 3 billion 130 million, 660 million and 300 million US dollars, respectively, increasing by 17.2%, 5.4% and 8.9% respectively.

In 1-5, my fabric exports to Hongkong 1 billion 600 million US dollars, down 5.2%.

Exports to Bangladesh and Pakistan have increased to varying degrees, with exports of 1 billion 550 million and US $720 million, an increase of 12.8% and 5.1% respectively.

Exports to India have declined, with exports of US $450 million, down by 4.5%.

In 1-5, I exported $200 million to Japanese fabrics, down 12.8%, exports to North America increased, and exports amounted to $880 million, an increase of 11.9%.

Exports to the EU and Latin America declined, with exports of $1 billion 550 million and $1 billion 860 million, respectively, down by 12.9% and 4% respectively.