Introduction: At around 9 pm Eastern Time on the 13th, U.S. President Trump delivered a speech at the White House, announcing a precision strike against chemical weapons sites in Syria. Affected by the news, crude oil prices surged strongly during the session on the 13th. As of the close on the 13th, New York crude oil May futures closed at US$67.39/barrel; Brent June futures closed at US$72.58/barrel.
Geopolitical factors continue to ferment, and international crude oil surges.
This week, the Syrian issue has affected the nerves of the entire market. The increasing possibility of Western countries taking military action in Syria has heightened concerns about global oil supply disruptions. It is reported that crude oil has been rising in the past five trading days. Especially since the oil price broke through the previous high of $66.76, the bullish power of crude oil is still strong. On Friday, it hit another new high of $67.76/barrel, and the gains are like rainbows.
After Trump announced the United States’ decision to carry out precision strikes on Syria on the 13th, a Xinhua News Agency reporter heard a huge explosion in the air in Damascus, the capital of Syria, in the early morning of the 14th. The TV station said that the United States, Britain and France “launched aggression” against Syria. CCTV said the Syrian army had responded with anti-aircraft weapons. In the past few days, the United States and Russia were at war with each other over the Syrian issue. Now the United States has directly launched military strikes on Syria, first with Russia and then with Syria. Risk aversion in the market has surged. The recent continuous rise in crude oil prices is closely related to the situation in Syria. With the situation in the Middle East, With the continuous escalation, crude oil prices are expected to reach new highs.
Big things are happening in the crude oil market, and the polyester filament market is moving after hearing the news
Since April 9, international crude oil futures have continued to rise sharply, and crude oil has skyrocketed. Although the PTA market has been relatively calm, polyester filament, which has been relatively active, is not idle at all. Driven by crude oil, polyester filament has experienced a general rise in prices. Among them, on the 11th, a chemical fiber manufacturer raised its prices three times a day. The price of polyester filament is rising, and downstream acquisitions are also easy to handle. According to the production and sales data tracked by China Silk City Network, since the 8th, the average market production and sales have been around 120%, and some manufacturers’ production and sales have reached 200% and 300% for several days. Some manufacturers’ FDY products have been sold out. Out of stock status.
Although crude oil has a great influence on the current rising market price of polyester yarn, for polyester filament yarn, it is difficult to prevent the market from rising in the near future. In fact, before the sharp rise in crude oil, the price of polyester raw material ethylene glycol had already soared significantly due to the impact of maintenance and supply tightening in the second quarter. PTA Polyester manufacturers have increased the proportion of contracted goods this year. Therefore, the sharp rise and fall in ethylene glycol prices has a great impact on the costs of polyester manufacturers. Since April, the price of ethylene glycol has rebounded strongly, and now it has increased by nearly 1,000 yuan compared with the beginning of April. Under cost pressure, polyester manufacturers have long been ready to move. In addition to cost factors, demand side support cannot be underestimated. The current gray fabric market, whether it is traditional bulk goods or order goods, is still in a tight and hot-selling state. Weaving manufacturers have basically arranged orders until May and June. The market is booming, and weaving manufacturers are basically running all the machines they can. Horsepower is being produced at full capacity. It is reported that the current weaving start-up level in Shengze and surrounding areas is still above 90%, which means the demand for raw materials is still very strong. Both upstream and downstream are so powerful, polyester filament is full of confidence.
Editor’s note: Now that the war in Syria has begun, Russia has made a strong statement. Although the crude oil and other capital markets currently seem to be very calm due to the weekend, no disturbance has been able to escape the eyes of capital, let alone such a big event now. According to market analysts, the capital market will be very interesting on Monday, and PTA and ethylene glycol are expected to perform well! You have already increased the price of polyester filament so much in the past two days. How much are you going to increase this time? </p