POY Price Difference Hit Three Year High

According to analysis, there is a reverse relationship between the profitability of the polyester industry and the price of crude oil, and the change of gross profit rate is lagging behind the change of oil price.

International oil prices continue to fall, and stock movements of related companies

Qingdao's Twin Star of Tung Sheng Kun's Rongsheng petrochemical company expects that the polyester industry is expected to usher in a better performance.

Polyester filament will usher in a new round of prosperity cycle.

Since 2011, the capacity expansion of polyester filament industry has come to an end, and the new production capacity will be greatly reduced in 2015.

As the upstream of polyester filament, PX has entered the capacity release phase since last year. Especially after the three quarter, the concentrated release of new capacity resulted in PX.

Rapidly descending.

Similarly, the PTA capacity of the middle reaches is also expanding, and the overcapacity is very serious.

Data show that the latest futures price of PTA is 4600 yuan per ton, and 34% in August 2014.

The price of polyester POY is around 7000 yuan per ton, and has dropped by 20% since August, which is smaller than that of upstream raw material PTA.

In this case, the PX and PTA prices closer to crude oil on the industrial chain will continue to fall deeply with oil prices, while the polyester filament will continue to expand in the case of better supply and demand pattern and price pmission.

Data show that in the process of falling oil prices, the price difference of polyester POY has expanded from 810 yuan to the current 2000 yuan / ton, and the price difference of some varieties has reached a new high of three years.

Crude oil prices will be low in the future.

With the oversupply of PTA and the supply and demand of polyester filament,

Profitability is expected to continue to improve, the industry will usher in profit turning point.

Tong Kun shares is the leading enterprise of polyester filament in China. At present, its capacity is about 2900000 tons, and the fall in oil prices will accelerate the improvement of enterprise profits.

Rongsheng Petrochemical is a large direct spinning polyester filament manufacturer in China, mainly engaged in the production and sale of polyester filament and polyester fiber related products.

In the polyester industry, the price of oil will continue to drop, and the price of synthetic rubber, which will be used as the main raw material, will also decrease, thus leading to the price of natural rubber.

In the tire industry, the total cost of natural rubber and synthetic rubber accounts for 40%-50%, the price of raw materials is falling, the cost of tire manufacturing is expected to decrease, and the profitability of the industry is expected to improve.

In addition, China Automotive association data show that in January 2014 -11 months, China's automobile production and sales of 21 million 430 thousand and 21 million 80 thousand, an increase of 7.21% and 6.14% over the same period.

The domestic auto industry is still in a steady growth stage, and the sustained increase in vehicle ownership will drive the growth of tire demand.

Sai Lun Jinyu is mainly engaged in the production and sale of all steel radial truck tire and semi steel radial tire. The company has carried out vertical and horizontal integration at home and abroad for several times, and is expected to become the first enterprise in China to have overseas tire production base.

Qingdao Twin Star is a large tire manufacturer in China, and its products are exported to overseas markets. At present, the company actively develops green tire intelligent production base, and is expected to enhance product competitiveness in the future.