, hitting the limit and “scoring twice.” Relevant departments have recently held a series of coal price limit meetings and clarified mechanisms for ensuring supply and cleaning up illegal production capacity. The market sentiment has clearly reflected the market sentiment, with both thermal coal and double coke falling by the limit, and ethylene glycol, which accounts for more than 36% of the coal chemical plant’s production capacity, also followed the extreme market sentiment and fell by the limit. On the 27th, the main contract of ethylene glycol futures fell to the limit, down 8%.
The main domestic thermal coal, coke, and coking coal contracts fell to the limit again in the night trading, triggering a chain reaction in the polyester industry chain. On the 27th, PTA fell by 80 yuan and MEG fell by 355 yuan. On the 28th, the price of polyester filament in polyester factories fell, with the range being 200-300 yuan/ton.
Polyester promotion
Polyester yarn from a factory in Xiaoshan fell by 300;
Polyester yarn from a factory in Shaoxing fell by 100;
Polyester yarn from a factory in Fujian fell by 300;
FDY from a factory in Wuxi fell by 500;
…
Polyester yarn has been booming in the early stage with the “rising voice” of the upstream. It has been advancing rapidly and has exceeded the highest price at the beginning of this year. value. Finally, under the influence of thermal coal, the brakes were put on the rise and the correction began. Some factories took the lead and started promotions, resulting in larger declines. It is reported that major manufacturers will start promotions this Friday, and the range should be quite large.
The price of upstream raw materials cannot stop falling! The downstream side is strong!
Many fans in the textile industry complain that upstream raw materials have plummeted, while downstream gray fabrics, dyeing plants, and finished fabrics have not moved at all. Prices remain strong or even continue to rise!
Indeed, there is currently no obvious sign of decline in the downstream market . Although the price of nylon spun gray fabrics has dropped significantly, reaching a level of 0.5 yuan/meter, other than that, the prices of other product gray fabrics have not fallen. The decline in nylon spinning gray fabrics is due to the gradual recovery of its production capacity, the easing of supply, and the outrageous price increase, which is just a slight correction. At present, its price is still at a high level, and traders still face great cost pressure.
Although other products do not continue to rise, they will not decline in the short term. Through research, cloth bosses have stated that prices will not fall at present. Polyester prices are still high, and production capacity is still recovering. The supply of gray cloths of many specifications is still tight, and there is no possibility of a correction in the short term. Mr. Lin, who specializes in elastic fabrics, said: “The price will definitely not fall now. The market is good, and the price will follow the market. Just follow the market.”
The impact of the upstream plunge is slow to be transmitted
Prices in the downstream industry are strong, on the one hand, because the impact of the plummeting prices in the upstream has not yet been transmitted to the downstream. At present, ethylene glycol, which is most affected by thermal coal, has fallen by the limit. However, from the perspective of polyester filament production, the amount of ethylene glycol is less than PTA, which means that it does not have a great impact on its cost. Therefore, polyester filament welcomes the It is unlikely that it will plummet. Polyester yarn has begun to fall. If it returns to the previous weekly promotion model, the decline will not be very large and it will be difficult to return to the low level in September. Then, it is difficult for gray fabric prices to follow the decline.
The downstream “Silver Ten” market continues, and prices are easy to rise but hard to fall
On the other hand, the current downstream market is still in the “Silver Ten” peak season, and the supply of gray fabrics is tight , the dyeing factory exploded, and everything was booming. When everything is in short supply, prices often rise. The term “follow the market” clearly summarizes the current market situation. In short, when the market conditions are good, prices rise, and when market conditions are poor, prices fall. At present, the downstream market is still good, and as the “Double Festival” is approaching, the market will usher in a wave of re-orders and supplementary orders. In the short term, gray fabric prices will follow the market trend and rise. Not to mention printing and dyeing factories, the surge in dyes, natural gas, and steam has triggered multiple increases in dyeing fees. The delivery time has been extended due to liquidation, expedited fees have appeared again, and fabric dyeing costs have been rising. It is not surprising.
Generally speaking, the upstream raw materials The sharp fall has triggered the stabilization of prices in downstream industries, which is at least a good start in curbing the sharp rise.
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