Zhengzhou PTA** weakened on the 22nd, the main contract 1209 closed at 8,144 yuan/ton, down 76 yuan/ton. Affected by the debt crisis in Europe and the weak economy of the United States, China's textile and apparel exports are still in a state of adjustment, and the slowdown in the domestic economy has also led to the continued decline in domestic textile and apparel consumption. The major polyester products downstream of PTA are still in losses, and there is no improvement in the end market. We expect the recent weak adjustments to dominate.
The New York Mercantile Exchange (NYMEX) crude oil prices closed higher on Monday, decisively rose in the last hour before the close, and traded within a narrow range. The increase was due to the sharp fall of 3.8% in the previous trading day. Just buy it low. The price of light crude oil for July delivery rose 75 cents to settle at 83.98 US dollars per barrel, an increase of 0.9%, failing to break through 84 US dollars per barrel.
The operating rate of Jiangsu and Zhejiang sliced ​​spinning bases currently slid to around 40%, Xiao Shao’s operating rate was between 4 and 5 percent, Zhuji market was 3 percent, Cixi market was between 2 and 3 percent, and Jiangsu Changshu’s slice spinning machine’s operating rate was around 40 percent. Taicang The area is slightly higher. The current commodity slump, slice spinning due to serious financial losses, cash flow tension, slice spinning mentality is more pessimistic, the overall slice spinning machine operating rate decreased by at least 30% over the same period last year.
The price of downstream polyester yarn products was also weak. Among them, the price of polyester staple fiber decreased by 4% in May, and the average price of various types of filament yarns fell by about 6%. In terms of demand, the operating rate of terminal textile companies has been around 60% for a long time. The entire polyester filament market has already formed a pattern of “absent support and shortage of demandâ€. The pessimism in the market is heavier, and the outlook for terminal textile companies is dim. The market generally believes that the decline in prices of polyester filaments will continue.
In the spot market, the Zhengzhou PTA** soon fell below the opening quotation on the 4th, and the main contract of 1209 contract closed at 7,300 yuan/ton, or 86 yuan. Due to the fact that non-agricultural employment in the United States increased by only 69,000 last month, this was significantly lower than expected, and the increase was the lowest in the past year. The news suppressed the commodity market and international oil prices crashed. The Asian PX market also fell sharply, with PTA cost support virtually disintegrating. Domestic downstream demand remains weak, and the outlook for terminal textile companies is bleak. The market today shows that the PTA price decline will continue. It is expected that Zheng’s PTA will be dominated by a weak pattern in the short term.
The New York Mercantile Exchange (NYMEX) crude oil prices closed higher on Monday, decisively rose in the last hour before the close, and traded within a narrow range. The increase was due to the sharp fall of 3.8% in the previous trading day. Just buy it low. The price of light crude oil for July delivery rose 75 cents to settle at 83.98 US dollars per barrel, an increase of 0.9%, failing to break through 84 US dollars per barrel.
The operating rate of Jiangsu and Zhejiang sliced ​​spinning bases currently slid to around 40%, Xiao Shao’s operating rate was between 4 and 5 percent, Zhuji market was 3 percent, Cixi market was between 2 and 3 percent, and Jiangsu Changshu’s slice spinning machine’s operating rate was around 40 percent. Taicang The area is slightly higher. The current commodity slump, slice spinning due to serious financial losses, cash flow tension, slice spinning mentality is more pessimistic, the overall slice spinning machine operating rate decreased by at least 30% over the same period last year.
The price of downstream polyester yarn products was also weak. Among them, the price of polyester staple fiber decreased by 4% in May, and the average price of various types of filament yarns fell by about 6%. In terms of demand, the operating rate of terminal textile companies has been around 60% for a long time. The entire polyester filament market has already formed a pattern of “absent support and shortage of demandâ€. The pessimism in the market is heavier, and the outlook for terminal textile companies is dim. The market generally believes that the decline in prices of polyester filaments will continue.
In the spot market, the Zhengzhou PTA** soon fell below the opening quotation on the 4th, and the main contract of 1209 contract closed at 7,300 yuan/ton, or 86 yuan. Due to the fact that non-agricultural employment in the United States increased by only 69,000 last month, this was significantly lower than expected, and the increase was the lowest in the past year. The news suppressed the commodity market and international oil prices crashed. The Asian PX market also fell sharply, with PTA cost support virtually disintegrating. Domestic downstream demand remains weak, and the outlook for terminal textile companies is bleak. The market today shows that the PTA price decline will continue. It is expected that Zheng’s PTA will be dominated by a weak pattern in the short term.
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