Reeling silk: narrow trading volume is stable

April 04, 2021

Reeling silk: narrow fluctuations

The narrow volatility of the board on Tuesday, the silk composite index rose 0.36% to close at 3313.38 points. b. Silk/Cognac: 140,925 flat newspapers, 333,900, 400 newspapers, 103,200, 150,325, up 600, and 339,900 newspapers, or 110,200 newspapers, 150,925, up 600, and 334,800, or 100, or 111,400. Today's deal is 720,000.

From the point of view of the big silk tie industry, from the production of the first tie in 1985 to one of the world’s largest tie production bases today, the tie industry in Chenzhou, Zhejiang, the hometown of Chinese tie, is facing “ceiling”. Confusion: The annual output value exceeds 10 billion yuan. Production accounts for 90% of the country's total and 60% of the world's total. The growth rate has slowed down, and profits have been deteriorating. Some companies have been forced to switch jobs and even shut down production.

In July 2014, the retail sales of 50 key large-scale retail enterprises in the country increased by 4.1% year-on-year, and the growth rate increased by 2.7 percentage points from the previous month and decreased by 0.1 percentage point from the same period of the previous year. In July 2014, the export value of textile and clothing was 30.347 billion yuan. The US dollar rose by 9.7% year-on-year, of which: textile exports were US$10.107 billion, up 5.5% year-on-year, and apparel exports were US$20.24 billion, up 11.9% year-on-year. The clothing retail terminal situation has improved.

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Since July, the external disk px prices have experienced wide swings. With the arrival of three new units of 3.3 million tons in South Korea and 800,000 tons of aromatics in Kowloon in Hong Kong, the market’s expectation of increased supply has been even stronger. External px prices have once fallen by nearly US$100/ton per week.

Although the centralized production of the new equipment has had a large impact on the market, the supply of certain old equipment in Asia has stopped production or reduced the load, and there has been no significant increase in supply. The px price has rapidly declined after a sharp drop. Therefore, from the cost point of view, the high price of the outer disk px will limit the pta price drop space.

Since May of this year, in order to curb the long-term loss situation, domestic pta production companies have adopted measures to limit production and insure prices, artificially reducing the ratio of supply and demand to reduce the operating rate. Since July, with the declining demand for terminal textiles, the average operating rate of domestic polyester companies has been continuously declining. In order to ensure that there is no apparent excess supply, domestic pta production companies have continued to strictly control the operating rate, which leads to a relative balance of domestic pta supply. And the spot price is firm.

It is expected that in the case of no large area profitability in the industry, the pta company's contracted operating rate will continue. Therefore, in the case of joint quotations by pta manufacturers, the strong spot price situation may continue.

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