After the joint production restriction was severely suppressed, the polyester filament was "terribly green"! The downstream has no choice but to take a holiday: the company has 0 orders, so let's find a new way ahead of time!

Crude oil plummeted, driving the entire petrochemical industry to "disaster green" all the way! Polyester raw materials are about to usher in a plunge again! The downstream has no choice but to take a holiday: the company has 0 orders, so let's find a new way ahead of time!
Crude oil plunges 13%
Thermal coal directly drops to the limit! Polyester raw materials follow the fall!
Not long ago, the United States released more than 60 million barrels of crude oil reserves with multiple countries, and crude oil rose instead of falling. However, just last Friday, crude oil staged a night of terror! International oil prices plummeted by more than 10%!
New York crude oil fell below US$70/barrel for the first time since the end of September, a decrease of 13.04%, and returned to 3 months ago overnight; Brent crude oil approached 70 yuan/barrel, a decrease of 11.27%; the main Shanghai crude oil futures contract fell to its limit last night. A drop of 8.01%, reported 464.1 yuan / barrel. It was the biggest closing drop since April 21, 2020, and Hemei Oil both hit a new closing low since September 9 this year.
Even the three coal brothers, another major upstream, did not escape. After the Price Department of the National Development and Reform Commission conducted a special survey on improving the coal market price formation mechanism, the sentiment of the coal futures market has diminished, and the thermal coal has directly fallen to the limit!
The plummet of crude oil and thermal coal has directly driven the "green" of the entire industrial chain! The polyester market is naturally unavoidable. Among them, as of November 30, PTA futures fell more than 8% on the 3rd, and ethylene glycol fell 7%.
Polyester filament weighs heavily on "bad green"
Downstream: It's useless if it falls, there is no order at all
Raw material futures have fallen so miserably, the downstream market is naturally inevitable! The polyester filament market has also been dragged down again. The price has recovered after the industry's joint production reduction measures, but it is difficult to resist the sharp drop in raw materials. On the 29th, some polyester factories once again opened a large price cut of 100-300 yuan/ton!
The "roller coaster"-style market caught textile people a bit unprepared and unbearable. But the price drop is not the worst. The worst is that the prices of polyester filaments and grey fabrics have fallen, but production and sales are still light, and no one buys them!
However, bad news came from the market frenzy. The power curtailment policy was relaxed, the price of raw materials was adjusted, and the downstream operating rate was liberalized... But downstream bosses are also having trouble, because orders have also decreased.
"I didn't know until I went to work. It will be a holiday on November 25..." A notice, how many bitter tears! A garment manufacturer in Guangdong issued a notice recently: holiday!
In addition, recently, a manufacturing company issued a notice stating that because of the serious lack of reasons for receiving orders, the company will take annual leave in advance from December 1st, and the start time is yet to be determined!