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[The Iranian tanker exploded in the Saudi waters! How will the textile market change again?]
Release date:[2019/10/14] Read a total of [384] time

The Saudi media reported on the morning of the 11th local time that a tanker exploded on the Red Sea in the vicinity of Jeddah Port in the west of Saudi Arabia, causing a large amount of crude oil to leak. The report shows that the tanker is affiliated with the Iranian National Oil Company, but the specific reasons for the explosion are still unknown. Affected by the news, international oil prices have risen sharply.


As of 15:00 Beijing time on October 11, domestic crude oil surged 14.8 yuan / barrel, or 3.27%. Brent crude oil increased to 2.12%, WTI crude oil rose 1.61


According to the Iranian Student News Agency, the cause of the Iranian tanker explosion is under investigation, and experts say it may have suffered a "terrorist attack." Then at 14:05, the Iranian Oil Ministry official website Shana pointed out that the Iranian tanker explosion is likely to be attacked by missiles.


The maritime tracing website showed that the 20-year-old tanker exploded about 60 miles southwest of Jeddah, Saudi Arabia. The ship was formerly known as the Susie Gil, and was on its way to the Suez Canal and the Mediterranean Sea.


Crude oil shipping with frequent accidents


In recent months, there have been many incidents involving Iran and oil tankers. At the end of last month, the Iranian government released the tanker after a tanker flying the British flag was boarded and detained by the Iranian Revolutionary Guard.


In July of this year, the British seized the tanker named "Stena Impero" in the Strait of Hormuz on the grounds that it was suspected of violating the maritime regulations. Two weeks ago, the British seized an Iranian tanker in the waters of Gibraltar on the grounds that it was suspected of violating EU sanctions.


The analysis said that crude oil traders seem to underestimate the risk premium in the Middle East, and various types of oil tanker incidents frequently occurring in the Hormuz Strait and other places deserve attention.


Forexlive analysts pointed out that oil prices have been limited in the past few days, but after the news spread, US oil returned to the $54 mark and hit a one-week high. It is expected that this news will bring more bullish sentiment in the short term.


Reuters analysis pointed out that since the Saudi crude oil attack case, the tension in the Middle East has continued to heat up, especially the relationship between Iran and Saudi Arabia. This undoubtedly has a huge impact on the international oil market, which accounts for more than 5% of global oil.


Will it affect the industry?


A number of chemical fiber textile analysts said that the Saudi incident may have a certain impact on crude oil in a short period of time, but it has little effect when it is transmitted to the chemical fiber textile industry. At present, the decisive factor leading the chemical fiber textile industry chain is the terminal demand.


As we all know, textile people are almost all year round, the machine is not stopped for 24 hours, and there are no holidays on holidays. However, under the pressure of inventory and funds this year, some manufacturers chose to suspend production during the 11th period to reduce the pressure on the accumulated warehouse by reducing the operating rate.


Therefore, during the 11-day holiday, many textile people enjoyed a 3-5-day holiday, and some manufacturers even extended the holiday to 7-10 days. This naturally greatly reduces the power of the weaving manufacturers to stock and purchase raw materials before the festival.


However, through research, some companies have expressed great pressure on the current market situation, but they have prepared for the long-term war. Efforts will be made to improve product quality, strengthen employee skills training, and actively respond to challenges through technological transformation. Some jet vortex spinning enterprises are more optimistic about the future development and have plans to increase production capacity.


In the future market situation, no one can accurately predict, even if the demand is not prosperous, but the market itself has a self-regulating function, it may take time to reach the balance of supply and demand, but the peak season will come back, the textile people work together!


Taixing Hongyang New Material Technology Co., Ltd. is a professional manufacturer of polypropylene high-strength yarn, polypropylene air-changing yarn, webbing and polyester air-changing yarn. The company has excellent equipment, advanced technology, complete testing means and stable product quality. Consistently adhere to the "guarantee quality, satisfied customers, quality service, adhere to the contract" purpose, with high-quality products, good reputation, selling the country. Dedicated to win-win cooperation with domestic and foreign businesses, and common development!


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