According to the price monitoring of the business club, the domestic polyester filament market fell this week (June 13-17). As of June 17, various products showed different degrees of decline, of which polyester FDY fell the most significantly, by 2.21%, followed by polyester DTY and polyester POY, by 1.73% and 1.6% respectively.
Rise and fall of average price of polyester filament market this week unit: yuan / ton
Products, 2022-06-13., 2022-06-17., Up and down, Year on year rise and fall
Polyester POY (150d/48f) ., 9383., 9233., – 1.60%., 27.36%
Polyester FDY (150d/96f) ., 9813., 9596., – 2.21%., 27.30%
Polyester DTY (150d/48f low elasticity) ., 10521., 10339., – 1.73% ., 19.07%
At present, in mainstream polyester filament factories in Jiangsu and Zhejiang, polyester POY (150d/48f) is quoted at 9200-9350 yuan / ton, polyester DTY (150d/48f low elasticity) is quoted at 10200-10500 yuan / ton, and polyester FDY (150d/96f) is quoted at 9400-9850 yuan / ton. In terms of inventory, polyester filament inventory is still high. Now the overall inventory in the polyester market is concentrated in 26-29 days, of which POY inventory is 25-30 days, FDY inventory is around 20-26 days, and DTY inventory is about 24-26 days.
Cost support was significantly weakened. The Federal Reserve raised interest rates by 75 basis points more than expected. The market was disturbed by macro bad news, and the expectation of demand setback put pressure on oil prices. As of June 16, the settlement price of the main contract of WTI crude oil futures in the United States was US $117.59/barrel, and the settlement price of the main contract of Brent crude oil futures was US $119.81/barrel. At the same time, with the improvement of PX supply, the stage speculation of PX may have ended, and the PX price fell sharply after rising to the high point since 2014.
The domestic PTA market rose and fell. As of June 17, the domestic market was 7289 yuan / ton, down 3.13% compared with the beginning of the week and up 49.71% year-on-year. In addition, the 650000 ton unit of Yizheng Chemical fiber was shut down for a short time this week, and the 2.2 million ton unit of Ningbo Yisheng was shut down for maintenance around June 12. Yisheng Hainan was restarted to 90%, PTA maintenance units were reduced, and the operating rate of the industry was increased to more than 76%.
At present, the terminal demand is weak, the startup rate of downstream industries is low, the weaving load is reduced to about 57%, and the contradiction between supply and demand is prominent. With the rising temperature and poor terminal orders, the downstream weaving industry is expected to see a decline in construction.
Business analysts believe that the terminal transaction atmosphere is still weak, and most factories say that autumn and winter orders have not yet been fully opened. The demand side has not improved, the cost drive is weakened, and the price of polyester filament will maintain a weak trend.