January 28Th Market Morning Post: Polyester Filament Price Rises Or Stabilizes After Market Or Weak Consolidation
Polyester filament (1.21-1.25): this week polyester filament rises and stabilizes, the average price rises overall.
The price of crude oil, PTA and MEG rose at the beginning of the week, which had a positive impact on polyester related products, and promoted the price of polyester filament. However, the global economic growth slowed down. In December 2018, the global PMI dropped to 51.5, the lowest level since September 2016, which dragged down the weak callbacks of crude oil, PTA and MEG, plus the increase of downtime rate in the elastic and weaving sectors, and the production and sale data of polyester factories were weakening.
Forecast: cautiously optimistic about the Sino US trade consultation and pessimism of economic forecast has become the core pressure of the recent weakening of the crude oil market, and on the eve of the Lunar New Year's Spring Festival, the supply and demand relationship of polyester filament tends to deteriorate as a result of the large-scale suspension of the spring Festival and the weaving factory. However, the overall inventory of the industry is relatively low, which has strong support for the price of polyester filament, and the overall market is dominated by weak consolidation.
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