• International oil prices plummeted 7%! Russia plans to increase April
    International oil prices plummeted 7%! Russia plans to increase April "discounted crude oil" exports! The price of Chips is temporarily stable. Mar 30, 2022
    Trending 1. International oil prices plummeted 7% Oil prices fell about 7 percent on Monday to their lowest level in more than a week, on worries about a slump in energy demand, while hopes of progress in peace talks between Russia and Ukraine eased concerns about energy supply risks. As of the close, the May contract of WTI crude oil futures closed at $105.96/barrel, a decrease of 6.97%; the May contract of Brent crude oil futures closed at $112.48/barrel, a decrease of 6.77%. 2. OPEC+ hints at sticking to plan to increase supply moderately OPEC+ signaled that they still see no need to adjust oil supply plans even as the Russian-Ukrainian conflict has left markets facing the biggest turmoil in decades. "If the market is balanced with supply and demand, and resources are in the market, we will not add more resources," Suhail Al-Mazrouei, the UAE's energy minister, told a conference in Dubai on Monday. He added that OPEC+ is not concerned about whether the reduction in Russian oil exports is causing imbalances. 3. Russia plans to boost exports of “discounted crude oil” in April It is reported that Russia plans to increase the export scale of Urals crude oil in April, which is expected to increase to the highest in nearly 3 years. Russia's confidence may lie in the fact that the current oil price continues to be high, and the Urals crude oil discount is very high. Russia's Lukoil reached a crude deal in which it sold 100,000 tons of Urals crude at a discount of $31.35 to Brent, data from U.S. agencies showed. Market overview Crude oil situation: WTI May crude oil futures settled down 6.09% at $105.96 per barrel; Brent May crude oil futures settled down 9.12% at $106.66 per barrel. Macro overview: The tight supply of goods at some ports has not yet eased, and warehouse receipts continue to flow out, but terminal expectations are not good. The high absolute price restrains the demand for polyester replenishment. Polyester has the intention to jointly reduce production. In the future, the daily supply and demand of PTA will be greatly reduced. The slump in prices drags down the cost and mentality of chemical products, the spot price of PTA will decline, and the low processing range may continue.
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  • Covid-19 increasingly serious in China
    Covid-19 increasingly serious in China Mar 24, 2022
    The Novel coronavirus outbreak, ravaged by a variety of new strains of coronavirus, shows no sign of ending,with the daily number of new infections remaining high.With the rapid development of the new wave of epidemic, Chinese many provinces are faced with the epidemic prevention and control situation dominated by the mutant omicron strain at the same time. The situation is grim and complex. Recently, there have been multiple outbreaks of COVID-19 in China, and the number of cases in Shanghai and Shenzhen, two major financial centers, has continued to rise, but the momentum has not been effectively contained. Shenzhen and Dongguan have pressed the "pause button" due to the epidemic. Buses and subways have been suspended, and all non-essential flows and activities have been suspended. Factories, enterprises and industrial parks are under closed management. Shanghai has also upgraded its control measures, asking residents to leave the city only when necessary Due to Covid-19 increasing serious, cause most of delivery time are delayed. Wish everything will resume normally soon.
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  • Russia's oil supply is interrupted, oil prices rising to $150 in three months is not a dream? However, slices and bottle flakes continued to fall, and the market was bleak!
    Russia's oil supply is interrupted, oil prices rising to $150 in three months is not a dream? However, slices and bottle flakes continued to fall, and the market was bleak! Mar 11, 2022
    1. Is it a dream that oil prices rise to $150 within three months? Vitol Group, the world's largest independent crude trader, said the global oil market is likely to get tighter as Russian oil supplies are disrupted and producers such as Libya face supply problems. This could push up oil prices further. Oil prices soared above $115 a barrel after Russia invaded Ukraine. Mike Muller, head of Vitol's Asia operations, said on Sunday: "Oil prices are going to zigzag. While I think the world is already pricing in the fact that Russia won't be able to export a lot of oil in the Western Hemisphere, I think we also There is no comprehensive pricing." His views are in line with those of several commodity hedge funds such as Goldman Sachs and Wall Street banks. The banks believe oil could hit $150 a barrel in the next three months. 2. Intercontinental Exchange (ICE) Raises Margin for Brent Crude Oil Futures by 32% ICE said it will raise margin requirements by 32% for the ICE Futures May Brent crude futures contract starting Friday. Margin is the amount of money investors must put in in order to trade and hold futures contracts. 3. DuPont issued a price increase letter again! The highest soaring 6700 yuan / ton! On March 10, DuPont issued a price increase notice saying that due to the current international market conditions, from March 15, DuPont will increase the prices of some products such as PA, PET, POM, and elastomers globally, with a maximum increase of up to 6,700. yuan / tonne! The specific increases are as follows: Market overview Crude oil situation: WTI crude oil futures closed down 2.46% at $106.02 per barrel; Brent crude futures closed down 1.63% at $109.33 per barrel.   Macro overview: Crude oil prices continued to adjust at a low level overnight, and cost support weakened; new orders in the terminal market were limited, and the mood for replenishment was general, and polyester was mainly purchased for rigid needs; 
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  • Ukraine declares a state of emergency, and the oil price rally is not over yet! Slices and bottle flakes fluctuated in a narrow range, can they take advantage of the east wind to rise further?
    Ukraine declares a state of emergency, and the oil price rally is not over yet! Slices and bottle flakes fluctuated in a narrow range, can they take advantage of the east wind to rise further? Feb 25, 2022
    Trending 1. Ukraine declares a state of emergency, and the United States and Europe expand sanctions against Russia Ukraine shifted to combat readiness on Wednesday, declaring a state of emergency starting at midnight on February 24 for 30 days, mobilizing reservists and calling on Ukrainian citizens to leave Russia immediately, warning of an imminent full-scale Russian invasion. At the same time, the United States and Europe also announced increased sanctions against Russia. U.S. President Joe Biden on Wednesday announced sanctions against Nord Stream 2 AG, the operator of the Nord Stream 2 project. It is a Swiss company whose parent company is the Russian gas giant, Gazprom. Earlier, Germany had announced the suspension of the approval plan for the Nord Stream 2 pipeline. 2. The United States considers releasing the Strategic Petroleum Reserve to deal with soaring oil prices Foreign media quoted people familiar with the matter as saying that the Biden administration is considering using its emergency oil supply again to cooperate with allies to deal with the surge in oil prices caused by tensions between Russia and Ukraine. There is a "robust dialogue" underway within the government, including potential price point triggers and how to coordinate the release of reserves with other countries, and modelling to determine the size and scope of any possible release. Market overview Crude oil situation: Crude oil fell back after a sharp rise in the U.S. market. WTI crude oil closed up 0.65% at $93.89 per barrel; Brent crude oil closed up 0.9% at $96.88 per barrel; Macro overview: The continuous rise in crude oil prices in the early stage drove the price of PTA upwards, and the trading logic of crude oil in the future will shift from storage to accumulation. PTA production capacity has further increased. When the operating rate is around 86%, the weekly production data of PTA has reached a record high. Although the operating rate of polyester is higher than expected, PTA is still accumulating slightly. At present, the operating rate of polyester factories is better than market expectations, but the terminal demand is weak.
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  • Affected by the epidemic, many polyester factories and textile enterprises have cut production and stopped production!
    Affected by the epidemic, many polyester factories and textile enterprises have cut production and stopped production! Dec 14, 2021
    1.Today's market transaction average price Product daily average price increase PX 843 +13 PTA Spot goods 4685 +25 MEG Spot goods 4897 +42 SD Chips 6120 0 Bottle flakes 7600 +100 POY150D/48F 7090 0 FDY150D/96F 7225 0 DTY150D/48F 8595 0 Yarn 11800 0 Viscose staple fiber 12750 -10 Polyester staple fiber 6865 0 CPL 13500 +100 Nylon FDY 17600 -100 MDI 20200 0 40D Spandex 68500 -2000 2.Today's sales Product Numerical value variety Polyester filament 39.1% +5% Polyester staple fiber 148.65% +102.88% Polyester chips 40.31% -17.54% 3. The price of Brent crude oil is expected to hover around US$76 per barrel in 2022. 4. Commonwealth Bank of Australia: Concerns about the severity of the Omi Keron variant have eased, helping the oil market to get rid of pessimism, and oil prices may be supported in the short term. 5. The official closing price of onshore RMB against the US dollar at 16:30 Beijing time was 6.3631, which was 73 points higher than the official closing price of the previous trading day, and 69 points higher than the closing price of the previous day and night.
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  • Saudi crude oil prices rise; Polyester chips prices rise!
    Saudi crude oil prices rise; Polyester chips prices rise! Dec 07, 2021
    1. The Central Bank: Lowering the deposit reserve ratio of financial institutions In order to support the development of the real economy and promote a steady decline in comprehensive financing costs, the People's Bank of China decided to reduce the deposit reserve ratio of financial institutions by 0.5 percentage points on December 15, 2021 (excluding financial institutions that have implemented a 5% deposit reserve ratio ). After this reduction, the weighted average deposit reserve ratio of financial institutions is 8.4%, and this time the RRR cut has released a total of about 1.2 trillion yuan in long-term funds. 2. Saudi Arabia raised the official price of some crude oil Saudi Aramco raised the January price of oil sales to Asia and the United States, and raised the January price of Arab light oil to Asia to a premium of US$3.30 per barrel. Market summary Crude oil situation: WTI January crude oil futures closed up 4.87% to US$69.49/barrel; Brent’s February crude oil futures closed up 4.58% to US$73.08/barrel. Production and sales yesterday: The PTA period is now on the strong side, and some polyester chip factories have taken the opportunity to ship, and low-priced sources still exist. As of 16:00 yesterday, the factory's mainstream production and sales were 108.95%, an increase of 53.50% from the previous working day. The specific production and sales data are as follows: 100%, 120%, 100%, 0%, 20%, 80%, 200%, 80%, 0%. Macro overview: The PTA operating rate continued to decrease, and futures warehouse receipts continued to flow in, but the speed margin was slowing down. The physical inventory of goods in the last cycle increased by nearly 15,700 tons. The polyester operating rate was stable during the week, and the polyester filament factory plans to increase the scale of production reduction, or further drag down the polyester operating rate. Looking at the trend, PTA is in a downward channel. From a structural point of view, PTA futures are near-low and far-high, and the forward processing fee is significantly better than that of the near-end. Port inventory continued to accumulate and market sentiment was not good. Yesterday, East China spot closed down to 4788 yuan/ton. The polyester end load continues to decline, and the demand end performance is not good. However, the overall domestic supply increase and decrease, the international crude oil rebounds strongly, and the short-term domestic ethylene glycol market is expected to rebound weakly. The East China spot price negotiation range is expected to be 4700-5000 yuan/ Ton. Today's factory quotation In the morning, the center of gravity of MEG's internal trading rose slightly, and the market was a little stalemate; today's prices have stabilized and moved slightly. At present, the polyester chip market in East China is negotiating for semi-gloss chips at 6000-6100 yuan/ton, and for bright chips at 6,150-6400 yuan/ton. Affected by the rise in crude oil and the closure of some domestic res...
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  • Ocean freight will continue to rise in December
    Ocean freight will continue to rise in December Dec 03, 2021
    Operating rate: Industry 1st DEC 2nd DEC Variety PTA 74.73% 73.71% -1.02% Polyester 83.25% 80.80% -2.45% PX 74.04% 71.19% -2.85% Weaving 60.65% 58.93% -1.72% Raw material price increase: Raw material 1st DEC 2nd DEC Ups and downs WTI 65.57 66.50 +0.93 CFR Taiwan PX 815.00 803.00 -12.00 PTA 4410 4388 -22 MEG 4935 4935 0 SD Chips 6050 6050 -25 POY150D/48F 7200 7200 0 FDY150D/96F 7350 7350 0 DTY150D/48F 8800 8800 0 Hot events: 1. WTI January crude oil futures closed up 1.42% to 66.50 US dollars per barrel. 2. The draft OPEC+ Communiqué shows an increase in production by 400,000 barrels per day in January. If the market changes, OPEC+ may adjust its production increase plan. 3. The crude oil output of OPEC member countries increased by 350,000 barrels per day in November, which exceeded the limit. 4. According to data from Shanghai International Energy Exchange Center, the cumulative trading volume of my country's crude oil futures from January to November 2021 was 37,695,100 lots, with a cumulative trading volume of 1,619,259 million yuan, and trading was running smoothly. 5. As space will continue to tighten, many freight forwarding companies predict that ocean freight rates will continue to rise in December. At the same time, due to the shortage of space, European and American routes have recently been suspended on a large scale.
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  • The oversupply of oil in the global market may reach 2.3 million barrels per day in January next year.The variety of SD Chips、POY150D/48F
    The oversupply of oil in the global market may reach 2.3 million barrels per day in January next year.The variety of SD Chips、POY150D/48F Nov 25, 2021
    Operating rate: Industry 23th NOV 24th NOV Variety PTA 78.16% 78.16% 0.00% Polyester 87.32% 87.32% 0.00% PX 74.81% 74.81% 0.00% Weaving 62.13% 62.13% 0.00% Raw material price increase: Raw material 23th NOV 24th NOV Ups and downs WTI 78.50 78.39 -0.11 CFR Taiwan PX 886.00 901.00 +15.00 PTA 4749 4810 +61 MEG 5224 5289 +65 SD Chips 6325 6350 +25 POY150D/48F 7200 7450 +250 FDY150D/96F 7400 7450 +50 DTY150D/48F 8950 9000 +50 Hot events: 1. WTI December crude oil futures closed down 0.14% to 78.39 US dollars per barrel; Brent January crude oil futures closed down 0.07% to 82.25 US dollars per barrel. 2. Petrobras: It is estimated that in 2022, oil production will drop from 2.3 million barrels per day to 2.1 million barrels per day. 3. OPEC said that the oversupply of oil may reach 2.3 million barrels per day in January next year and 3.7 million barrels per day in February. 4. Ministry of Finance: From January to October, the total operating income of state-owned enterprises was 60386 trillion yuan, a year-on-year increase of 22.1%. 5. The Ministry of Foreign Affairs urges the U.S. to immediately stop upgrading the substantive relations between the United States and Taiwan, stop any form of official exchanges and contacts with Taiwan, and stop sending any wrong signals to the "Taiwan independence" forces.
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