According to the price monitoring of the business community, the domestic polyester filament market price has continued to fall in the past month. As of November 18, the mainstream price in Jiangsu and Zhejiang The factory’s polyester POY (150D/48F) quotation ranges from 7450 to 7900 yuan/ton, polyester DTY (150D/48F low elasticity) quotation ranges from 9400 to 9700 yuan/ton, and polyester FDY (150D/96F) quotation ranges from 7900 to 8200 yuan/ton. .
Polyester filament market average price rise and fall unit: yuan/ton
Polyester yarn factories achieve the purpose of destocking through price reduction promotions and promote production and sales in the short term, but they cannot truly improve the contradiction between supply and demand. Weak terminal demand is still the main factor restricting price increases. Specifically, due to the large increase in the early period, downstream weaving manufacturers regained their “buy-up” mentality and stocked up a lot of raw materials when polyester prices first rose in October. Even though the polyester filament factory had two sales promotions in November, and each time the production and sales volume increased on the same day, the high-priced raw materials in the downstream period have not yet been consumed, so there is no high desire to purchase, but they remain cautious and watch the market.
“Power restrictions and production restrictions” caught the entire textile industry chain off guard, with reduced production capacity, rising raw material prices, and shortages. Such phenomena are reflected from the raw material end to the demand end. In November, after power restrictions were relaxed, although some conditions improved, the operating rate of polyester factories did not rebound as quickly as expected and remained at around 83% as of November 17. Jiangsu and Zhejiang are the main textile bases, and the comprehensive operating rate of looms is around 66.75%. The start-up of polyester and weaving is still at a lower level than in the first half of the year.
In terms of orders, the polyester terminal weaving segment is about to enter the off-season. The “Double Eleven” e-commerce season has ended. There are currently 2 months left before the Spring Festival. As usual, There will be a wave of orders placed before the Spring Festival, especially the foreign trade market will usher in a small climax. However, affected by the epidemic in the past two years, orders are still small, especially overseas orders have not yet increased, and overall terminal demand support is still weak.
In addition, cost support has weakened. Oil prices have plummeted to nearly six-week lows after oil output The Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) have both warned against oversupply. The resurgence of the epidemic in Europe and the surge in new cases have intensified expectations of lower market demand, putting oil prices under pressure. As of November 17, the settlement price of the main U.S. WTI crude oil futures contract was US$78.36/barrel, and the settlement price of the main Brent crude oil futures contract was US$80.28/barrel. Affected by the decline in crude oil and the expectation of accumulation of supply and demand, the PTA market has maintained a volatile and weak trend. The current spot market price is around 4,900 yuan/ton, with a drop of more than 10% in the past month.
Power restrictions have been lifted in many places in China, and the start-up load of downstream weaving has increased. However, expectations for order volume are pessimistic. In the absence of orders, most factories plan to shut down and reduce production. At the same time, affected by the weak cost support, the wait-and-see sentiment in the downstream has increased, and the purchase of raw materials has been maintained. It is expected that the polyester filament market will continue to fluctuate and move downward. </p
