The purchasing power in the downstream of polyester silk is not optimistic, and the sentiment of hesitation between high and low is relatively strong. In the polyester silk market, there is an inverted price situation between dealers and manufacturers. Spinning factories are facing both inventory pressure and sales pressure. The overall sales situation in the polyester silk market is poor, and the discount幅度of FDY fine denier products is relatively large.
On July 7th, in the Shengze chemical fiber market, PTA spot prices were adjusted, MEG prices consolidated, semi-dull polyester chip and bright polyester chip prices declined, CDP chip prices fell, and polyester bottle chip prices dropped. The mainstream cash price for semi-dull chips in the market was 13,250 yuan/ton, the mainstream cash price for bright chips was 13,200 yuan/ton, the CDP chip market spot price was 14,100 yuan/ton with six-month acceptance delivered, and the polyester bottle chip market generally delivered at a price of 13,700 yuan/ton.
On July 7th, the settlement price of the May crude oil contract on the New York Mercantile Exchange (NYMEX) was $110.30, up $1.47 or 1.35%. A senior U.S. military officer said that Libya was deadlocked, after the Libyan opposition claimed that NATO airstrikes killed five people. Libya criticized the UK for damaging the oil pipeline during the air strikes, while the opposition claimed that government attacks halted oil production. The market is concerned about whether its oil supply can be restored. Data released by the U.S. Department of Labor showed that the drop in the number of Americans filing first-time claims for unemployment benefits last week was greater than expected, maintaining optimism about the U.S. economic outlook, which will boost rising oil demand. Rising crude oil will increase chemical costs, which is beneficial to futures prices.
The Zhengzhou PTA (11270, 280.00, 2.55%) 1109 contract closed up 2.26% on August 8th, reporting 10,880 yuan per ton. Crude oil rose, and cotton (29365, 565.00, 1.96%) prices rebounded from their lows.
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