From a macroeconomic point of view, the Federal Reserve raises interest rates to shrink monetary liquidity, and lowers interest rates to release monetary liquidity. According to CCTV news, after a two-day monetary policy meeting, the Federal Reserve announced on September 18 local time that the target range of the federal funds rate was lowered by 50 basis points to 4.75% to 5.00%. This is the Fed's first rate cut since March 2020, and it also marks a shift in monetary policy from a tightening cycle to an easing cycle. By then, market liquidity will be gradually released, and the situation may improve.
From the perspective of polyester raw materials, in the market in early September, a variety of polyester raw materials appeared significantly oversold. Although the fundamentals of some polyester products are weak at present, the low price is difficult to sustain. After falling raw material prices, the bottom has become very firm.
From the perspective of weaving enterprises, the main problem in the current downstream market is a cautious attitude and a lack of confidence. However, demand can be delayed, but it is hard to really go away. As the weaving rate continues to rise, at least the next two months will be the peak of shipments and orders, and the use of raw materials will also have rigid demand. However, since September, the price of polyester raw materials starting from crude oil has continued to fall, so that weaving enterprises dare not stock up and dare not buy silk halfway up the mountain. Once the bottom of the market judgment appears, there will be a larger market trend, and this has proved to be the case.
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A variety of polyester raw materials appear significantly oversold
