Recently, the polyester industry chain can be described as disaster-prone, and after a short surprise, it is subject to various "crit"! On the trading day after May, the international oil price suddenly suffered a “flash crash” and became a bad month for the entire crude oil market since November last year. The plunge in the crude oil market shocked everyone, and it directly weakened the domestic chemical futures products. PTA futures were also badly hit.

Crude oil fell more than 16% in the month, creating a one-month drop in half a year!

On the trading day after the Zui in May, the market sent news that the United States had delayed sanctions against the Iranian petrochemical industry, which had already weakened the already fragile confidence of the market; subsequently issued a tax threat to Mexico, and announced that it would end its cessation of India from June 5. In the case of benefits, Trump’s tariff threats indicate that “no country is safe”, further exacerbating concerns about the global economy and oil demand, and Zui eventually led to a sharp fall in the crude oil market.

After a sharp decline for two consecutive weeks, this May became a bad month for the entire crude oil market since November last year. As of May 31, WTI July crude oil futures closed down 3.09 US dollars, down 5.46%, to 53.50 US dollars / barrel, since February 12, the monthly contract closed at a new low, last week fell 8.8%, fell 16.3 in May %, the first monthly decline in 2019, and a large monthly decline since September 2018. Brent July crude oil futures closed down 2.38 US dollars on the delivery date, down 3.56%, to 64.49 US dollars / barrel, the lowest since February 13th, that is, the monthly contract fell 11.4% in May; Brent 8 Monthly crude oil futures closed down 3.34 US dollars, down 5.1%, to 61.99 US dollars / ounce.

Chemicals collectively weakened, domestic crude oil futures plummeted!

In the current international trade disputes and global market crisis, the prospects for international oil prices are confusing, volatility and uncertainty are gradually increasing. As a result, domestic oil prices have also been greatly frustrated.

It is reported that on June 3, domestic chemical products futures collectively weakened, fuel oil, methanol and other futures fell sharply, Shanghai crude oil futures fell directly to the limit; soon after the opening of the market, the market closed down, the main contract of crude oil futures fell 7.01%, close At 429.6 yuan / barrel.

PTA futures suffered "heavy damage", and ethylene glycol and Gansu went down together!

Whether it is suppressed by the collapse of international oil prices or the collective weakness of chemical futures, PTA futures are bound to be difficult to escape the fate of falling. On June 3, PTA futures opened lower and then continued to run low; the main contract of 1909, the final closing at 5190 yuan / ton, compared with the previous trading day, a sharp drop of 184 yuan / ton, the decline It reached 3.42%, setting a low price in recent months.

As a small polyester partner, the ethylene glycol market has been falling with the PTA. On the 3rd, the ethylene glycol futures also weakened at the opening, and the disk continued to fluctuate at a low level. It is difficult to see signs of recovery. As of the close of the 3rd, the main contract was 1909, and the final price was closed at 4415 yuan/ton. Compared with the trading day, it fell sharply by 87 yuan / ton, a drop of 1.92%.

The upstream raw material market was a "fighting and chaos". On June 3, the polyester filament market remained stable for a while. However, under the operation of this oil price “flash collapse” and PTA “plunge”, can the polyester filament market, which has weak production and sales, increased inventory and weak profit, survive?

Against the background of poor global economic expectations and continued volatility in the financial market, on the one hand, the Organization of Petroleum Exporting Countries continued to reduce production and promoted oil prices. On the other hand, the increase in US shale oil production and the expected decline in global demand hindered oil prices from finding above. Space; the energy of both of them has become the main force behind the sharp fluctuations in international oil prices this year. Market participants are worried about the increase in sentiment, and speculate that the "deep fall" market at the end of 2018 will repeat itself.

For the polyester industry chain, the fluctuation of international oil prices will affect the overall disk, coupled with economic data, inventory problems, demand pressure and other factors, can this “green” easily dissipate?

Hai'an County Qinfeng Chemical Fiber Co., Ltd. relies on the professional power of single stream, the front-end quality inspection system and perfect quality inspection system ranks among the high-quality enterprise queues in the industry, specializing in the production of short pp, polypropylene staple fiber, polyester staple fiber and Functional polypropylene staple fiber, etc.