RMB Devaluation: Stimulating Exports Of PTA And Textile And Clothing

During the week, following the maintenance of Hengli petrochemical plant, Yizheng chemical fiber, Ya Dong petrochemical, Zhuhai BP and other devices are also scheduled to be overhauled in August. In addition, in September, Hengli Petrochemical third sets of equipment and Honggang petrochemical and Hon Bang Petrochemical have maintenance plans. If these devices are repaired according to the plan, the starting rate of PTA will continue to descend, and there will be support for the price.

But after the overhaul, if the processing cash flow is acceptable, enterprises will also actively resume production.

Therefore, the price rise caused by the shortage of PTA is expected to be short-lived.

In recent years, domestic

The loss of orders is serious and the consumption in the peak season is also mediocre. Therefore, before the arrival of the peak season, the speculative demand of weaving enterprises is not obvious, and the short-term consumption end may continue to maintain a downturn.

However, the recent devaluation of the RMB is conducive to commodity exports, or stimulating the export of PTA and textile and clothing, which is favorable in the long run.

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Last week, the PTA main contract 1601 rebounded mainly, the price fell to less than 4600 on Friday, but this week continued to rebound.

On Monday, the Dayang line was closed on Tuesday, and the price on Tuesday rose to more than 4800, but it did not stand firm; the Wednesday price was lower and higher, and the line was again closed. Thursday, the price rebounded sharply, and the station was 4800.

Zhou Yimei crude oil prices rebounded sharply, once ordered.

The market is exciting.

However, the momentum of crude oil rebound failed to continue. On Wednesday, it closed down and fell to below 42 US dollars / barrel.

Crude oil is down, and the downstream chemicals market is dragging down more obviously.

In the week, PX price performance is relatively strong, but with the load increase of CICC PX device, the supply of domestic PX will increase, and the price will continue to bear pressure.

PTA upstream raw materials still have downward expectations, as the main negative.