On January 4, domestic commodity futures rose broadly, with many major contracts rising significantly. Among them, the major crude oil contract rose nearly 5%, and the major coke contract hit a new high since the contract was launched; No. 20 plastic and rapeseed oil futures rose by more than 3%. , the overall atmosphere is more positive.
As of 15:00 yesterday, the main crude oil futures closed up more than 5%, and No. 20 plastic, coke, and ethylene glycol rose more than 4% , coking coal, LPG, iron ore, PTA, rubber, and Shanghai Nickel rose by more than 3%.
PET raw material market: Polyester dual raw materials continue to pick up, with certain support on the cost side, a stable mentality, and individual prices rose by 50-100. Downstream inquiries increased, transactions were acceptable, and the market focus rose. The reference price in East China: 5350-5450, the reference price in South China: 5400-5500 upon pickup; the reference price in North China: 5350-5450.
Recycled PET market: International oil prices fluctuate within a narrow range, new materials are rising, and recycled chemical fiber stocking intentions are acceptable. The supply of recycled bottle flakes is tight, and the crushing factory is reluctant to sell it at a low price. We will discuss the actual order. Chemical fiber factories replenish supplies on demand and their cost control ideas remain unchanged, and the recycled bottle flakes market is operating smoothly.
Ethylene glycol: The market continues to be strong in the afternoon, the focus of the East China ethylene glycol market is strong, and the overall atmosphere is good. Negotiations are at 4470-4480 this week, and 4465-4470 next week. Negotiation next January at 4465-4475.
In terms of crude oil, overseas markets were relatively calm between Christmas and New Year, and the upward slope of oil prices began to slow down. Preliminary data on the effectiveness of vaccines against mutated strains will emerge in the first two weeks of January, and attention should be paid to event-driven price risks. In terms of operation, the idea of going long on dips remains unchanged.
Due to the sharp rise in raw material prices in January, the spot melt cost has exceeded 4,650 yuan, and the melt cost has increased by 200 yuan/ton compared with the end of December. The filament yarn is basically on the verge of losing money. At present, the overall commodities are in the upward channel, and polyester raw materials are easy to rise but difficult to fall. In the later period, filament companies will increase sales and strictly control the number of empty orders.
Seize the rising market and restock as early as possible! </p
