- A cultural treasure precipitated by time, Li brocade art stuns the world
- The difference between polyester thermal fuse and nylon thermal fuse is analyzed from chemical properties Chemical resistance
- A cultural treasure precipitated by time, Li brocade art stuns the world
- The third expanded meeting of the eighth session of the China Textile Planning Research Association was held
- Nylon in nylon thermal fuse has different chemical structures and different properties
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This week! The three major chemical companies withdraw from PTA business, international oil prices are deeply "V" reversed, and some cotton textile companies will postpone the holiday... Let's take a look at what's happening this week.
The three chemical giants quit the PTA business
On December 22, the Mitsubishi Chemical Board decided to transfer 80% of the shares of the Mitsubishi Chemical Company of Indonesia (MCCI) to PT Lintas Citra Pratama, which operates pure terephthalic acid (PTA) business.
Lotte Chemical announced that it plans to sell its 75.01% stake in Lotte Chemical Pakistan Limited (LCPL) and completely exit the refined terephthalic acid (PTA) business.
On 29 November, Ineos announced that it intends to close the smaller and older of the two PTA (refined terephthalic acid) units at its PX and PTA integrated production facility at its plant in Herr, Antwerp, Belgium.
Looking at the domestic PTA market, with the rapid development of integration projects, the future PTA capacity is still showing an increasing trend. In 2024, domestic PTA is expected to put into production of 12.2 million tons, and PTA capacity growth rate may reach 15%, from the perspective of production capacity, PTA may face greater excess pressure.
In the context of oversupply, intensifying industry competition, and shrinking profits, whether it is to focus on the main business to divest business, or to break arms to survive, or to prepare for subsequent cross-border and other strategies, the choice of the three chemical giants is reasonable.
International oil prices deep "V" reversal
On January 3rd, oil prices reversed strongly on the back of a series of positive news. By the end of the day, light crude oil futures for February delivery on the New York Mercantile Exchange rose $2.32, or 3.30%, to $72.70 a barrel. Brent crude for March delivery rose $2.36, or 3.11 per cent, to settle at $78.25 a barrel.
Oil protests in Libya have forced a total shutdown of Libya's Sharara oil field, one of the country's largest at 300,000 barrels a day.
In terms of inventories, US crude oil inventories have fallen recently, in line with seasonal characteristics, and inventory levels are at a higher level in the same period of previous years. On the supply side, although OPEC+ has extended production cuts into next year, within market expectations, OPEC crude oil production has risen in three of the past four months, increasing global supply and leading to pressure on oil prices. On the demand side, China's crude oil demand peaked in September and has since fallen, while US crude oil demand has bottomed out since October.
Among the factors affecting oil prices, in addition to the geopolitical situation, the instability of supply and the uncertainty of demand who will dominate is a key issue. Due to its relatively limited space for deep falls, oil prices are expected to stabilize overall in January.
Some cotton textile enterprises will postpone the holiday
Recently, Zheng Mian rebound narrowed, the main CF2405 contract broke 15,500 yuan/ton mark, long confidence has declined. Zheng cotton yarn has opened a strong rising rhythm, the main CY2405 contract rose from 20,960 yuan/ton to 22065 yuan/ton in only three trading days, and the price difference with Zheng cotton CF2405 contract widened from about 5,000 yuan/ton to more than 6,000 yuan/ton, and the price difference between the two was gradually repaired.
From the feedback of cotton spinning enterprises in many places, cotton yarn quotation continues to rise, and the loss of medium and low count cotton yarn continues to shrink, and confidence has been restored. Some cotton textile enterprises that had planned to release the "Spring Festival holiday" in advance in mid-January issued a notice to postpone the holiday for 7-15 days, encouraging employees to work overtime before the Spring Festival to catch up with orders.
Some cotton trading enterprises and Xinjiang processing enterprises reflect that with the rise in cotton and cotton yarn prices, the downstream inquiry/procurement enthusiasm continues to pick up, and the progress of cotton sales has accelerated, especially for medium and high-quality Xinjiang machine-picked cotton.
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- A cultural treasure precipitated by time, Li brocade art stuns the world
- A cultural treasure precipitated by time, Li brocade art stuns the world
- The difference between polyester thermal fuse and nylon thermal fuse is analyzed from chem
- The third expanded meeting of the eighth session of the China Textile Planning Research As
- Nylon in nylon thermal fuse has different chemical structures and different properties
- Digital transformation to build a high-quality ecological community
- Nylonthermal fuse is made of polyamide fiber processing
- The 2024 Humen Vision for World Clothing Cooperation Development was held in Humen, Donggu
- Nylon thermal fuse is widely used in many textile fields
- The 8th China Textile Intangible Cultural Heritage Conference opens