Under the influence of cost, the polyester filament market in April was first raised and then suppressed.

Event: On April 7th, the explosion of the Taihua Aromatics Third Plant in the Maihao Six Light Industrial Zone

The explosion was caused by the liquefied petroleum gas (LPG) pipeline going to the rupture of the ethylenebutane tower, but the PX unit was implicated and shut down. The corresponding PTA spot transaction price has risen sharply. In addition, the PTA unit has been inspected and repaired. The spot price has been rising continuously. Under the support of the cost end, the prices of polyester filament yarns have risen steadily, and the market turnover has shifted upwards. Downstream weaving companies have been buying up their stocks, and they have been making up their positions. Polyester production and sales are hot. The average production and sales during the trading day is nearly 400%, and some high-ends are around 800% and 1400%.

Event: Whether it is overhauled around the PTA device in mid-April, it becomes a market mystery

It is understood that the PTA equipment maintenance concentration in April-May, but the PTA processing fee continues to climb, rising to around 1,600 yuan / ton, high profits make PTA equipment overhaul there are many uncertain factors. Whether Fuhai has a 4.5 million tons of equipment to be overhauled, whether it can be on schedule to become a hot topic in the market. For polyester filaments, if the inspection is carried out, PTA will still have some favorable support. On the contrary, the PTA market will have downside risks, lose the cost end support, and the polyester filament will not escape the pattern.

Event: On April 22, the media announced that the United States is about to announce the termination of sanctions for Iranian oil imports. The international oil price has soared.

The United States may terminate the sanctions exemption for Iranian oil imports to bring some favorable support to the oil market supply side, coupled with China's economic data to boost demand, the oil price trend is still relatively high. The short-term supply of polyester raw materials market will certainly support, but the demand is weak, and the linkage between crude oil and polyester is not strong. The rise in oil prices has little effect on the polyester filament market. With the opening of the 250,000-ton polyester plant of Jiaxing Yipeng and the maintenance of 300,000 tons of Rongsheng, the supply of polyester filament market will increase, the pessimistic expectations of downstream weaving enterprises will increase, and the purchase of polyester yarn will increase.

Event: Promotion before the May Day, urgent demand for inventory

At present, due to the high processing cost of PTA, the industry's profits are mostly concentrated in the upstream raw materials, the profits of polyester enterprises are still acceptable, the profit of downstream weaving is compressed, and the resistance is high. Recently, the raw materials have also been slightly reduced to comfort the downstream users' emotions. However, downstream users do not buy them. The weaving enterprises just need to buy, and the polyester yarn enterprises are running at full capacity, resulting in a cumulative increase of 2-3 days in the inventory of most polyester yarn enterprises. Close to the May 1 holiday, the demand for destocking enterprises is urgent, and the promotion model has been launched. Some enterprises have lowered their offer by 100-200 yuan/ton. Most enterprises offer stable prices, and the actual single offer is 100-400 yuan/ton. The downstream weaving enterprises are still expected to be pessimistic, and moderately replenish their positions. The production and sales of polyester filaments have improved compared with the previous period. However, they have not reached the expectations of enterprises. The effect of destocking of individual enterprises is significant, and most enterprises still have inventory pressure. It is understood that the current POY inventory is more than 13-15 days, FDY inventory is more than 17-20 days, DTY inventory is more than 25-28 days.