According to the business community commodity market analysis system, this week (June 12-16) stop falling and pick up, as of June 16, the domestic East China PTA market price was 5737 yuan/ton, up 2.52% from the beginning of the week (June 12). Due to PX extrusion at the cost end, the spot processing fee of PTA is below 200 yuan, which causes the enthusiasm of the plant to start construction to decline, and the current PTA industry starts near 73%.
U.S. retail sales unexpectedly rose in May, supported by positive jobs data. In addition, China's refinery processing volume has increased significantly, and the oil market has fluctuated upward. As of June 15, international crude oil futures rose. The main contract for U.S. WTI crude oil futures settled at $70.62 per barrel, while the main contract for Brent crude oil futures settled at $75.67 per barrel. In terms of PX, the unplanned decline made the monthly supply and demand balance tight, and the price strengthened.
With the improvement of the atmosphere at the cost end, the replenishment action of downstream enterprises has increased. However, under the traditional off-season of high temperature and high humidity, terminal demand is poor, cash flow is weak, inventory accumulation, and the start of weaving factories in Jiangsu and Zhejiang fell below 60%. This week (June 12-16) domestic polyester filament products prices fell slightly 0.49%-0.55%, short fiber prices fell 0.27%
And from the recently announced textile and clothing export data is also relatively weak, the US dollar in May textile and clothing exports of 25.32 billion US dollars, down 13.1%, down 1.3%, of which textile exports of 12.02 billion US dollars, down 14.2%, down 5.6%, clothing exports of 13.3 billion US dollars, down 12.2%, an increase of 3%.
Business analysts believe that the recent crude oil prices are still expected to move up, a number of domestic PX plants unplanned production cuts are still fermented, and cost support is strong. However, the recovery of downstream demand is limited in the off-season, and PTA prices are expected to fall back.
