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[The international oil price continues to strengthen]
Release date:[2024/4/8] Read a total of[56]time

On April 4, international oil prices rose, as of the close of the New York Mercantile Exchange May delivery light crude oil futures prices rose 1.16 US dollars to close at 86.59 US dollars per barrel, an increase of 1.36%; London Brent crude for June delivery rose $1.30, or 1.45 per cent, to settle at $90.65 a barrel, both the highest since Oct. 20.


In terms of PTA, entering April, PTA finally showed signs of strengthening again, and the price broke through the 6000 mark again after two months. On the demand side, although the spring orders as a whole are still less than expected, but the downstream consumption of pre-stock after the just need to replenish the inventory has finally arrived late, and the recent overall optimism of the commodity market has also stimulated the downstream speculative procurement to a certain extent, and the high polyester inventory finally began to go. The cash flow caused by the superposition of raw materials has improved, the pressure on the polyester factory has eased, the overhaul season may be delayed, and the PTA demand has returned to optimism.


At the cost end, the geopolitical conflict is fermented again, the international oil price continues to strengthen, and the Asian aromatics raw materials finally begin to flow to the Americas under the approaching oil transfer season, and the PX and PTA are expected to be centralized maintenance due to insufficient raw materials in the second quarter. In particular, PTA, after the continued poor profit performance, took the lead in opening the process of reducing production and supporting prices. Under the strong expectation of supply reduction and demand increase, the final strengthening of PTA prices can be said to be reasonable.


In terms of polyester, after the big promotion, the inventory pressure of polyester filament manufacturers has been relieved, taking into account the current cash flow loss of most models, the enthusiasm of enterprises to pull up is high, and the local quotation is raised in a narrow range. At this stage, the polymerization cost remains high, the processing fees of polyester filament enterprises are continuously compressed, and the overall POY profitability is poor, and the DTY profitability is high.


In terms of weaving, with the gradual warming of the weather, the arrival of the traditional peak season, the terminal weaving start has climbed to a high of 71.94%, the atmosphere of spring and summer inquiries continues to heat up, foreign trade orders have improved moderately, and the number of weaving orders this week has come to a high of 17.44 in nearly three years. With the gradual delivery of orders, the current inventory days of grey cloth have further declined, and the inventory data has come to around 20 days, which is a relatively low inventory data for the traditional peak season.


With the joint efforts of upstream and downstream, the polyester industry chain may usher in "spring agitation".


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