Chemical fiber refers to the fiber made of natural or synthetic polymer materials. Its varieties mainly include polyester filament, viscose staple fiber and spandex. Affected by the epidemic, last week, Paris, France and other 16 areas entered a one-month state of city closure, and European countries such as Germany, Italy, Hungary and Poland also entered a new round of blockade. This has caused the market to worry about the reduction in demand for crude oil.
On March 19, international crude oil once fell by more than 7%, the biggest one-day drop since last summer. By the end of last week, WTI crude oil prices were 6 1 and 42 USD/barrel, respectively, down 6% and 39% from last weekend. Brent crude oil prices were $64 and $53 per barrel, down 6% and 78% respectively from last weekend. As of March 23rd 18: 30 Beijing time, WTI crude oil prices were US$ 59 and US$ 34 per barrel, respectively, down 3% and 64% from the previous day. Brent crude oil prices were $62 and $3 per barrel, down $3 and 44% respectively from the previous day. Soochow securities research report pointed out that the COVID-19 epidemic seriously affected economic activities, and the sluggish demand led to a sharp drop in crude oil prices. Through downstream transmission, the prices of bulk chemicals continue to be depressed. According to commercial data, as of March 22nd, the chemical industry index was 10 19, down 1 1 point from the previous day; Compared with the index high of 10 in March, it fell by 2% and 86%.
"Das Kapital" reported that the chemical team of CITIC Construction Investment Co., Ltd. believes that the recent decline in the share prices of chemical stocks such as Longman Bailey is also due to the excessive increase in the chemical industry in the early stage, and now the callback is normal. Some institutions are optimistic about the long-term trend of the chemical sector. According to the research report of CITIC Securities, the prosperity of 202 1 chemical industry is expected to increase under the background of rising oil prices and macroeconomic recovery. Shen Wan Hongyuan's research report also believes that chemical industry is in the upward process of V-shaped prosperity. The weaving market such as chemical fiber has also fallen recently.