1. The Central Bank: Lowering the deposit reserve ratio of financial institutions In order to support the development of the real economy and promote a steady decline in comprehensive financing costs, the People's Bank of China decided to reduce the deposit reserve ratio of financial institutions by 0.5 percentage points on December 15, 2021 (excluding financial institutions that have implemented a 5% deposit reserve ratio ). After this reduction, the weighted average deposit reserve ratio of financial institutions is 8.4%, and this time the RRR cut has released a total of about 1.2 trillion yuan in long-term funds. 2. Saudi Arabia raised the official price of some crude oil Saudi Aramco raised the January price of oil sales to Asia and the United States, and raised the January price of Arab light oil to Asia to a premium of US$3.30 per barrel. Market summary Crude oil situation: WTI January crude oil futures closed up 4.87% to US$69.49/barrel; Brent’s February crude oil futures closed up 4.58% to US$73.08/barrel. Production and sales yesterday: The PTA period is now on the strong side, and some polyester chip factories have taken the opportunity to ship, and low-priced sources still exist. As of 16:00 yesterday, the factory's mainstream production and sales were 108.95%, an increase of 53.50% from the previous working day. The specific production and sales data are as follows: 100%, 120%, 100%, 0%, 20%, 80%, 200%, 80%, 0%. Macro overview: The PTA operating rate continued to decrease, and futures warehouse receipts continued to flow in, but the speed margin was slowing down. The physical inventory of goods in the last cycle increased by nearly 15,700 tons. The polyester operating rate was stable during the week, and the polyester filament factory plans to increase the scale of production reduction, or further drag down the polyester operating rate. Looking at the trend, PTA is in a downward channel. From a structural point of view, PTA futures are near-low and far-high, and the forward processing fee is significantly better than that of the near-end. Port inventory continued to accumulate and market sentiment was not good. Yesterday, East China spot closed down to 4788 yuan/ton. The polyester end load continues to decline, and the demand end performance is not good. However, the overall domestic supply increase and decrease, the international crude oil rebounds strongly, and the short-term domestic ethylene glycol market is expected to rebound weakly. The East China spot price negotiation range is expected to be 4700-5000 yuan/ Ton. Today's factory quotation In the morning, the center of gravity of MEG's internal trading rose slightly, and the market was a little stalemate; today's prices have stabilized and moved slightly. At present, the polyester chip market in East China is negotiating for semi-gloss chips at 6000-6100 yuan/ton, and for bright chips at 6,150-6400 yuan/ton. Affected by the rise in crude oil and the closure of some domestic res...

Operating rate： Industry 1st DEC 2nd DEC Variety PTA 74.73% 73.71% -1.02% Polyester 83.25% 80.80% -2.45% PX 74.04% 71.19% -2.85% Weaving 60.65% 58.93% -1.72% Raw material price increase: Raw material 1st DEC 2nd DEC Ups and downs WTI 65.57 66.50 +0.93 CFR Taiwan PX 815.00 803.00 -12.00 PTA 4410 4388 -22 MEG 4935 4935 0 SD Chips 6050 6050 -25 POY150D/48F 7200 7200 0 FDY150D/96F 7350 7350 0 DTY150D/48F 8800 8800 0 Hot events: 1. WTI January crude oil futures closed up 1.42% to 66.50 US dollars per barrel. 2. The draft OPEC+ Communiqué shows an increase in production by 400,000 barrels per day in January. If the market changes, OPEC+ may adjust its production increase plan. 3. The crude oil output of OPEC member countries increased by 350,000 barrels per day in November, which exceeded the limit. 4. According to data from Shanghai International Energy Exchange Center, the cumulative trading volume of my country's crude oil futures from January to November 2021 was 37,695,100 lots, with a cumulative trading volume of 1,619,259 million yuan, and trading was running smoothly. 5. As space will continue to tighten, many freight forwarding companies predict that ocean freight rates will continue to rise in December. At the same time, due to the shortage of space, European and American routes have recently been suspended on a large scale.

Operating rate： Industry 23th NOV 24th NOV Variety PTA 78.16% 78.16% 0.00% Polyester 87.32% 87.32% 0.00% PX 74.81% 74.81% 0.00% Weaving 62.13% 62.13% 0.00% Raw material price increase: Raw material 23th NOV 24th NOV Ups and downs WTI 78.50 78.39 -0.11 CFR Taiwan PX 886.00 901.00 +15.00 PTA 4749 4810 +61 MEG 5224 5289 +65 SD Chips 6325 6350 +25 POY150D/48F 7200 7450 +250 FDY150D/96F 7400 7450 +50 DTY150D/48F 8950 9000 +50 Hot events: 1. WTI December crude oil futures closed down 0.14% to 78.39 US dollars per barrel; Brent January crude oil futures closed down 0.07% to 82.25 US dollars per barrel. 2. Petrobras: It is estimated that in 2022, oil production will drop from 2.3 million barrels per day to 2.1 million barrels per day. 3. OPEC said that the oversupply of oil may reach 2.3 million barrels per day in January next year and 3.7 million barrels per day in February. 4. Ministry of Finance: From January to October, the total operating income of state-owned enterprises was 60386 trillion yuan, a year-on-year increase of 22.1%. 5. The Ministry of Foreign Affairs urges the U.S. to immediately stop upgrading the substantive relations between the United States and Taiwan, stop any form of official exchanges and contacts with Taiwan, and stop sending any wrong signals to the "Taiwan independence" forces.

Operating rate： Industry 16th NOV 17th NOV Variety PTA 78.16% 78.16% 0.00% Polyester 86.45% 86.26% -0.19% PX 65.8% 65.8% 0.00% Weaving 61.99% 61.99% 0.00% Raw material price increase: Raw material 16th NOV 17th NOV Ups and downs WTI 80.76 78.36 -2.40 CFR Taiwan PX 921.00 919.00 -2.00 PTA 4912 4902 -10 MEG 5238 5165 -73 SD Chips 6450 6450 0 POY150D/48F 7700 7700 0 FDY150D/96F 7925 7925 0 DTY150D/48F 9375 9375 0 Hot events: 1. WTI crude oil futures closed down 2.97% to $78.36 per barrel, the lowest level since October 7; Brent's January crude oil futures closed down 2.61% to $80.28 per barrel. 2. The United States needs to release 20-30 million barrels of crude oil reserves to show insufficient demand. 3. The onshore renminbi against the US dollar closed at 16:30 yesterday, closing at 6.3817, down 0.0737%, and the central parity of the renminbi reported 6.3935, down 0.0172%.

Market summary Device dynamics: Due to a surprise attack on environmental protection factors, the Xiamen polyester plant ushered in a wave of shutdowns! 1. Due to environmental protection requirements, two sets of polyester plants with a supply of 380,000 tons of a factory in Xiamen temporarily shut down, involving products polyester filament, polyester staple fiber and chips. The restart time is yet to be determined. 2. Due to environmental protection factors, the polyester bottle flake device with an annual output of 240,000 tons in East China No. 1 Plant will be shut down for maintenance yesterday afternoon, and the restart time is yet to be determined. Our company: Runteks polyester filament(RECYCLED FDY SD DDB100D/36F /RECYCLED CD DTY 150D/48F), polyester staple fiber(HCS 3Dx32MM/HCS 7Dx64MM/7D/15Dx32MM/64SHA) and chips are still in stable production and hot sales.For details, please check our relevant pages. Macro overview: Although the production and sales data improved during the promotion, the overall trend was unequal. The price of polyester filament rose and fell each other yesterday, and the overall performance of the production and sales data was mediocre. In addition, ethylene glycol fell sharply in the night market, and today polyester filament yarns show a steady but weak trend. Hot events: 1. Once the United States lifts tariffs, textile exports are bound to rise! According to the customs export data in September, the monthly export value of textiles and clothing to the United States has reached the highest level in 5 years. According to the data of the 11th category of customs exports, the domestic export value in September exceeded US$5.5 billion, +4.11% year-on-year , Accounting for 19% of the total domestic textile exports, basically the same as the same period last year. 2. Five provinces and 17 cities issued "stop work orders"! Many companies have suspended production restrictions, and the lifting time is yet to be determined!

When Iran conducted airstrikes against Israel, tensions in the Middle East reached a climax once again. This event could trigger more conflicts and confrontations, plunging the region into greater crisis. Uncertainty is spreading, posing serious challenges to the international community. This tension not only affects the internal dynamics of the region but also has direct repercussions on the global economy. The sustained rise in oil prices is almost inevitable. Concerns over oil supply due to the region's uncertainty have heightened market tensions. Such an increase could trigger chain reactions, impacting the prices of other related commodities. As one of the crucial indicators of the global economy, fluctuations in oil prices will have far-reaching effects across various sectors, from energy to manufacturing, and even to consumer markets. For example, like polyester, as one of the primary materials in the textile industry, typically correlates closely with oil prices. Consequently, the price of virgin polyester will also rise with the increase in oil prices, implying an escalation in production costs that could further squeeze profit margins. Therefore, for customers with purchasing needs and limited inventory, now is a critical moment. Seizing the opportunity to procure necessary raw materials promptly can help avoid bearing greater cost pressures after price hikes. If you have purchasing needs, feel free to contact us. Runteks will be your reliable and high-quality supplier.

Due to the overwhelming popularity of the products we showcased at the exhibition, our order volume has surged significantly. Consequently, I would like to remind everyone that our production line is currently operating at full capacity. There are large quantities of orders to process and ship every day. To ensure that we meet delivery deadlines and fulfill customer demands, if you have any inquires or purchase plan recently, welcome send to us in advance! (Loading Pictures) If you have already placed an order, please pay close attention to the production progress. If you have any questions, we will respond to you in time. Thank you again for your support during the exhibition, and hope we can work together in 2024！

Amidst the vibrant atmosphere of the 2024 Shanghai Yarn Expo, we are thrilled to announce the fruitful culmination of yet another successful event. As the curtains draw to a close on this esteemed gathering, we reflect on the multitude of enriching conversations and promising connections made over the course of the expo. This year's expo served as a pivotal platform for us to engage with numerous clients and partners, fostering meaningful discussions that spanned both past achievements and future endeavors. It was a delight to engage in face-to-face interactions, deepening our relationships and reaffirming our commitment to collaboration and mutual growth. As we conversed with our esteemed clients and partners, we were filled with a profound sense of gratitude for the trust they have placed in us. Their unwavering support and dedication have been instrumental in propelling our business forward, and we are immensely thankful for the opportunity to work alongside such esteemed collaborators. Looking ahead, we are excited to embark on new ventures and explore fresh opportunities that lie on the horizon. Our commitment to innovation and excellence remains steadfast, and we are eager to continue our journey towards success with our valued partners by our side. In the spirit of fostering international partnerships and expanding our global footprint, we eagerly anticipate the upcoming exhibitions in South Korea during the latter half of the year. These events present yet another chance for us to connect with our partners, both old and new, and to further strengthen our presence in the international market. As we bid farewell to the 2024 Shanghai Yarn Expo, we extend our heartfelt appreciation to all who contributed to its success. Together, we have created an environment ripe with opportunity and brimming with potential, setting the stage for a future filled with prosperity and growth. Here's to the bonds forged, the insights gained, and the memories made. Until we meet again at the next exhibition, let us continue to strive for excellence and forge ahead on our path towards success.