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Weavers are paying more and more for raw materials
[2024/7/5]  Read total of [7] times

From the conflict between Russia and Ukraine to the conflict between Palestine and Israel, the geopolitical tension has pushed up the price of crude oil, affected the cost of shipping, and caused great pressure on the export of textile enterprises. On June 28, local time, Hezbollah announced the use of a number of drones to attack the 411th artillery battalion headquarters in Jatoun, and fired a number of Katyusha rockets at the Israeli military base in Beit Hilel.

Hezbollah also said it used guided weapons to attack Israeli military bases in Kfar Shuba and Sabaa farms. On the same day, Israeli Defense Minister Yad Galant, while visiting Israeli air defense units in the north of the country, said that Israel does not want to go to war with Hezbollah, but is preparing for it.

Crude oil led to a surge in raw materials

Affected by this, crude oil has risen for three consecutive weeks, and after entering July, the market generally expects that oil prices will usher in a new round of rises. On Monday (July 1), international oil prices rose across the board, and the US oil contract for August rose 2.26% to $83.38 / barrel. The September crude oil contract was up 1.92 percent at $86.63 a barrel. At the same time, the price of polyester raw materials also rose, and PTA exceeded 6100 points. As of July 3, the PTA spot price has reached as high as 6110 yuan/ton, breaking through the 6000 yuan mark; The spot price of ethylene glycol also came to 4741 yuan/ton, more than 4700 yuan/ton; In terms of polyester filament, FDY 150D reported 8,500 yuan/ton, POY 150D reported 8,015 yuan/ton, and DTY150D reported 9,400 yuan/ton, with different specifications rising at different rates compared with the previous month.

So far, the rise of polyester filament has not stopped, and there are still some polyester factories that have issued price increases.

Weavers are paying more and more for raw materials.

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