WTI (02^RD JAN.,2023- 17^TH JAN.,2023)

PX   (02^RD JAN.,2023- 17^TH JAN.,2023)

PTA  (02^RD JAN.,2023- 17^TH JAN.,2023)

MEG   (02^RD JAN.,2023- 17^TH JAN.,2023)

China put forward positive epidemic prevention policy, it largely stimulated domestic consumption and boosted the global confidence. In the meantime, due to the investment reduction on oil industry, the energy minister of the UAE said the capacity of OPEC+ decreased by 3.7 million barrels/day. Furthermore, as the sanctions imposed by Europe on Russian oil come into effect, OPEC+ faces an “unstable prospect” of supply and demand in the oil market.

1.Polyester filament 

The Crude oil rises consecutively, polyester raw material cost rebound largely, which supports the cost side to a large extent.

On production side, Chinese New Year will come this weekend, the factories’ workshop almost stops production, the market is overall quiet. However, the last week’s production and sales was good because good atmosphere of pre-holiday stocking up, and they don’t have any inventory pressure, so the prices probably will increase after holiday. For long-term, need to pay attention to the crude oil price, the cost of polyester and the resumption situation of work.

2. PSF

Driven by the sharp rise in futures, PSF transaction volume on last Thursday and Friday increased and the negotiating space of price also narrowed. Most factories have risen 100-200rmb/ton on weekend and increased further on Monday. Even though the downstream has almost in holiday mode, but if the futures surge, its spot price probably will follow to rise.

3. VSF

  As the Chinese Spring Festival is coming, the VSF market is basically closed. This year's downstream market holiday time is slightly longer compared with previous years. It is suggested that focus on the market resume time to follow the market trend.

4.Spandex

The shipment of Spandex also almost stopped at the end of last week. At present, the inventory of the factory is relatively low because of pre-holiday replenishment. It is recommended to pay attention to the market resumption after the Spring Festival.

5. Nylon

The price of pure benzene is strong, CPL is basically in the high level, and the transaction is expected to remain stable. CHIPS and its downstream gradually entered the rhythm of the holiday, the transaction decreased, but the price was highly supported by raw materials.