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[The impact of the Saudi attack on the polyester staple fiber market]
Release date:[2019/9/18] Read a total of[604]time

First, the event background description


According to foreign media reports, at around 8:00 am on September 14th, Beijing time, Saudi Aramco was located in Abqaiq's global Zui big crude oil integrated processing center and the second largest oil field in China, Khurais, by 10 unmanned people. The aircraft consisting of aircraft attacked, causing multiple fires, and the fire has now been controlled. The Houthi armed forces in Yemen have claimed responsibility for this attack. For safety reasons, Saudi Arabia temporarily shut down 5 million barrels per day of crude oil production capacity. The Saudi side claimed that the affected capacity will resume on September 16, but many sources have shown that it may take longer to fully recover its capacity. In response to this incident, the United States said it is ready to use strategic reserves to prevent Saudi Arabia's supply gap from vibrating the global oil market. Saudi Arabia also said it will use its crude oil inventories to ensure that crude oil exports are not affected this week.


Second, the impact of the event on the price of polyester staple fiber


On September 16th, international crude oil futures prices rose strongly, WTI rose 14% to 63.34 US dollars / barrel; Brent rose 18% to 71.95 US dollars / barrel, WTI and Brent opening gains have been since 1991 since the Zui big single The increase in the day. As petroleum derivatives, PTA and ethylene glycol futures also rose sharply. The stock of polyester staple fiber enterprises was lower. Thanks to this news, the price of straight-spun polyester staple fiber enterprises rose by 100-300 yuan/ton on Monday morning. Etc., the production and sales can reach 100%-300%. By the close of the morning, the average price of the East China market has risen from 7,250 yuan / ton to 7,500 yuan / ton, an increase of 3.45%.


Third, the polyester short fiber market mentality survey


For this market, the industry is almost unanimously bullish. Before the holiday, the polyester staple fiber enterprises had low inventory. Even though the production and sales in the holiday market were relatively flat, as a derivative of petroleum, the PTA and ethylene glycol markets are bound to be greatly affected by this news. The strong push of the cost side also leads to the short polyester. Fiber companies almost consistently followed the upswing and prompted the advancement of the downstream stocking time.


In the coming week, most market participants believe that the polyester staple fiber market can only be maintained in the short term, because the reason for the market's rise is due to the sharp increase in crude oil, but it is worth noting that when the region resumes production in Saudi Arabia. The problem is that there are still many different opinions on the parties. In addition, the United States may release strategic oil reserves at any time, and the increase in oil prices may be suppressed in the later period;


From a fundamental point of view, although the current polyester staple fiber inventory is low, the high polyester start-up also has a strong boost to the raw material end, but the demand side has not been fundamentally improved, and the future PTA, PX still have new production expectations, fundamentals The benefits are limited, so most people believe that the sustainability of this upswing may not last long.


Most of the opinions hold that the market will not last longer than 3 days. It is mainly believed that the current processing fee of PTA is still plentiful, and the inspection time of large factories may continue to be postponed. The time for the new equipment to be put into production is approaching, the market supply is plentiful, and the cost end support is limited. After the centralized shipment of polyester staple fiber, the enthusiasm of the downstream replenishment is difficult to maintain, and the terminal market has no substantial improvement. Some spinning mills face the phenomenon of holiday during the National Day, so there is a strong resistance to the supply after the rise.


Fourth, the market mentality survey sample


Sample description of the mentality survey of the polyester staple fiber market: There are 33 sample samples in this survey, including 20 production enterprises, 10 traders and 3 downstream.


Hai'an County Qinfeng Chemical Fiber Co., Ltd. is a company specializing in the production, research and development and sales of polypropylene staple fiberpolyester staple fiberFunctional polypropylene staple fiber and PP staple fiber. It is based on innovation and sets a good example for the industry. Its main specifications are 1.5D to 200D and the length is 5-150mm. The products are available in a wide range of colors and support color to map or sample customization. Qinfeng will always adhere to the business philosophy of “pursuing excellence and creating brilliance”. We sincerely look forward to your call!