Oil prices remained rigid on the back of falling U.S. crude inventories and rising Chinese crude imports, but concerns about the demand outlook capped gains. As of July 21, the settlement price of the main contract of WTI crude oil futures in the United States was $77.07 / barrel, and the settlement price of the main contract of Brent crude oil futures was $81.07 / barrel.
In the PTA market, in the context of the restart of the device, the industry load recovered to near 80%. Under the current situation of low PTA processing fees, the load of the device is still increased, mainly because the profit of the upstream and downstream supporting devices is still ok, and the overall industrial chain has no substantial loss. At the same time, the start of downstream polyester still maintains a high level, and some specifications of polyester factories have increased in price.
Recent terminal inventory gradually accumulated, with the summer high temperature, as well as off-season factors, most of the downstream weaving factory load is relatively low. At present, after a certain degree of replenishment of weaving, it is expected to wait and see to digest the inventory. At present, there is no substantial improvement in domestic or export sales of the terminal, and there may be room for further decline in construction.
Business analysts believe that the current cost support is OK, but the demand is weak, so the short-term polyester filament market wait-and-see sentiment is growing, and the price will remain stable.
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Polyester filament market wait
