Polyester Market Begins To Clean Up, Shorten The Market And Maintain Stability.
Jiangsu and Zhejiang 1.4D direct spinning polyester and short market mainstream newspaper 6350-6400 yuan / ton factory, actual business negotiation.
It is expected that the price will be stable this week.
Fujian polyester short market quotation is stable, 1.4D direct spinning polyester and short market mainstream newspaper 6300-6400 yuan / ton short delivery, actual business negotiation, morning.
PTA
The futures market fluctuated slightly after opening.
Shandong,
Hebei Market
The short quotation is stable, 1.4D direct spinning polyester short mainstream newspaper 6350-6450 yuan / ton to the actual business negotiations, the confidence of the market slightly reduced, wait and see the intention of goods.
Shengze Market
Pure polyester yarn offers a steady quotation, and there is not much market paction. 32S mainstream newspaper is 10300 yuan / ton up and down, 45s mainstream quotation is 11300 yuan / ton nearby.
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In February, the international cotton advisory board (ICAC) predicted that in February, global cotton production and consumption were 22 million 461 thousand tons and 24 million 84 thousand tons respectively, representing a decrease of 14% and 0.9% compared with the same period last year.
Although production has dropped faster than consumption, the phenomenon of output larger than consumption has changed, but huge inventories are still firmly pressing cotton prices.
In addition, China's massive inventory of cotton reserves is expected to suppress cotton prices for a long time.
The market anticipate that the policy of reserve cotton outgoing may start in April, and the price of reserve and output will have a decisive impact on the cotton price trend in the later stage.
At present, the market generally believes that it is imperative for national cotton stocks to go out of stock. In order to ensure the effective arrival of stock reduction, the departments concerned may adopt a more market-oriented dumping and storage pricing mode, which is likely to cause further decline in cotton prices.
Therefore, we believe that before the implementation of the treasury policy, Zheng cotton will continue to operate in a weak way.
The global economic outlook is more pessimistic. In the recent economic outlook report, the OECD predicted that the global economic growth rate will be 3% and 3.3% in the next two years, down 0.3 percentage points from the expectations made by the organization in November last year.
The global economic recovery will remain very slow. The US economy will grow by 2% and 2.2% respectively in the next two years, 0.5 and 0.2 percentage points lower than previously expected, and the euro area's economic growth rate is 1.4% and 1.7% in the next two years, 0.4 and 0.2 percentage points lower than previously expected.
Pessimistic expectations of economic recovery continue to erode investor confidence.
According to the statistics of the China National Business Information Center, during the golden week of Spring Festival (from New Year's Eve to early sixth, February 7th to February 13th), the retail sales of 100 major large-scale retail enterprises decreased by 6.6% compared with the same period last year, and the growth rate dropped to the same level in 2009 after the financial crisis, which was 4.8 percentage points higher than that in the 2015 golden week of 2015.
Retail sales data dragged down cotton prices, although cotton production has continued to shrink, but in the face of huge inventory, the decline in output has limited impact on supply and demand rebalancing, and demand side warming can really support cotton prices.
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