According to the price data of business associations, the average factory price of 1.4D*38mm polyester staple in the whole country was 7538 yuan / ton as of September 16th, up 3.15%, or 230 yuan / ton, compared with the same period last year, it dropped 34.70%, or 3907 yuan / ton. Most of the quotations from Dachang are concentrated between 7500-7800 yuan / ton.
Upstream crude oil showed a trend of upward and downward trend last week. The US crude oil inventory dropped more than expected at the end of the stock market. The US crude oil continued to stock up, the refined oil went to stock substantially, and the stock of gasoline and distillate fuel was larger. However, the summer of the United States is drawing to a close, and the peak season for finished oil consumption is about to end. Crude oil supply side has little change, the number of drilling rig continues to decrease, and crude oil production remains high. US crude oil output was 12 million 400 thousand barrels / day, unchanged from last week, an increase of 1 million 500 thousand barrels per day, up 13.76% over the same period last year. OPEC production in August was less than that in July. In August, OPEC crude oil output was 29 million 423 thousand barrels per day, an increase of 143 thousand barrels per day compared with July, and the reduction in output was much lower than that in July 159%.
The PTA 01 contract was closed at 5098 yuan, down 24 yuan from the previous working day. The current processing fee of PTA is 840 yuan / ton, the cost of raw materials is 4240 yuan / ton, and the spot transaction price in East China is 5090 yuan / ton. Hengli Petrochemical 2 million 200 thousand ton plant maintenance plan or cancellation, Hua Bin Petrochemical 1 million 400 thousand tons of equipment in September 16th short-term maintenance for 3 days, Jialong Petrochemical 600 thousand tons of equipment in early August began to overhaul, is expected to overhaul in October, the PTA's operating rate is close to 95%. Zhejiang wankai's 1 million 200 thousand tons of polyester plant and shutdown 10 days, eleven recovery; Chenggao packaging 600 thousand tons of equipment in late July shutdown, resumption of operation time to be determined. In recent years, pet operating rate has been rising, and it is currently close to 91%. However, generally speaking, production and marketing are overall. There is a certain class library pressure on downstream inventory.
The average price of the downstream ring spinning 32S polyester yarn in Shandong area was 15000 yuan / ton, a decrease of 4.76%, a decrease of 750 yuan / ton, a decrease of 14.89%, or a decrease of 2625 yuan / ton compared with that of the previous year. The middle end factory quoted 13500-15000 yuan / ton, and the high-end factory quoted 15800-16300 yuan / ton. The sales volume of cotton yarn is rising but the price is stable. There is a tentative price increase in the cotton mill with less stock and less capital pressure.
The people's Bank of China announced that the deposit reserve ratio of financial institutions should be reduced by 0.5 percentage points. For the current textile industry chain, there are two advantages: first, it is beneficial for all import and export enterprises and cotton textile mills to resume production, stimulate consumption and expand business. Due to the escalation of Sino US trade, the factories reduced production or orders were inadequate. Second, we have increased capital flows to help traders and investors overcome their financial difficulties. Many factors such as Sino US trade, deteriorating export environment and weak domestic sales have led traders and producers to remain at a high level. This time, the central bank released 900 billion of its liquidity, which greatly relieved the pressure to repay loans.
To sum up, business analysts believe that the crude oil is in a continuous inventory stage, the supply side is not too much pressure, the demand is continuing to move down, and the trade climate between China and the United States eased. Trump said on 12 that the tariff increase of 250 billion US dollars on China's us exports will be postponed from October 1st to October 15th, but this is only a short-term behavior. The market still has great variables and can not be overly optimistic. In terms of macro economy, the people's Bank of China has generally lowered the accuracy and orientation of the industry, and has also brought some benefits to the textile industry. Overall, gold and silver ten, the environment is gradually improving, and the expected price of polyester staple fiber will rise at around 300 yuan / ton.