According to the Commodity Market Analysis System of Shengyi Society, the domestic PP market fluctuated in the first half of November, with prices of various brand products falling more and rising less. As of November 12th, the benchmark price for PP wire drawing offered by Shengyi Society was 6556.67 yuan/ton, a decrease of -2.48% compared to the price level at the beginning of November.

price trend
In terms of raw materials:
The international oil price market in this range has fluctuated widely. OPEC+’s new round of production increases has raised concerns in the market about the risk of long-term oversupply. The easing of geopolitical conflicts, coupled with weakened demand from the United States, has led to a weak consolidation of international oil prices. In the early stage of propylene, due to the decline in crude oil prices, low level replenishment orders have recently begun to follow up. While on-site inventory has been digested, spot prices have stopped falling and rebounded. Propane prices continue to decline due to low external prices and sluggish consumption. Overall, the prices of various PP raw materials are difficult to support the cost.
Supply side:
The overall change in the operating rate of domestic PP enterprises in the first half of November was relatively narrow. As of the time of writing, the overall load level of the domestic industry is 79%. The current weekly average total production is close to 800000 tons. Short repairs were made to the production lines of Ningxia Petrochemical, Guangdong Petrochemical, and Beihai Refining within the interval, while the first line of Dushanzi Petrochemical was shut down. In addition, there are other temporary shutdown plans such as Guangxi Petrochemical and CNOOC Daxie Petrochemical. However, due to the large supply base of the industry, the on-site supply remains abundant, and the inventory level is close to 900000 tons. Overall, there has been no improvement in the support for spot prices from the PP supply side.
In terms of demand:
In the first half of November, the market continued to decline against the traditional peak season, and the driving force of Double 11 e-commerce consumption within the range had limited improvement in market trading atmosphere, while some positive factors were eroded by many negative factors. The results of the China US talks in the first ten days did not meet market expectations, and the mentality of the industry is not strong. In addition to the macroeconomic fatigue, external markets are affected by the Federal Reserve’s interest rate cuts and trade protectionism, dragging end products overseas, constraining downstream enterprise loads, weak demand, and inventory accumulation. However, overall, the demand side has poor momentum, making it difficult to support PP spot prices.
Market outlook
In the first half of November, the domestic PP market prices fluctuated and fell. From a fundamental perspective, the upstream raw material market has experienced more declines than gains, resulting in poor overall support for PP. The improvement in consumption is limited, and the industry load has risen slightly at a high level. With a large base production capacity, the expectation of loose supply remains unchanged, and the market lacks strong guidance. It is expected that the PP market will continue to experience a weak adjustment trend.

According to the monitoring of the commodity market analysis system of Shengyi Society, the average price of LLDPE (7042) was 7011 yuan/ton on November 4th and 6966 yuan/ton on November 10th, a decrease of 0.64%. LDPE (2426H) had an average price of 9316 yuan/ton on November 4th and 9200 yuan/ton on November 10th, a decrease of 1.25%. HDPE (2426H) had an average price of 7620 yuan/ton on November 4th and 7550 yuan/ton on November 10th, a decrease of 0.92%.

Recently, polyethylene has continued to operate weakly, with a relatively large decline in high-pressure products. The supply side has increased, and there have been many reboots of equipment recently, releasing new production capacity one after another. The downstream willingness to receive goods is limited, and multidimensional procurement is mainly focused on essential needs, resulting in a bearish market mentality. Plastic futures are weak, suppressing the spot market. The market lacks favorable conditions, and petrochemical companies and traders continue to lower prices for shipments.
New production capacity has been released, and previous maintenance equipment has been restarted one after another. The number of new maintenance equipment has decreased, and the supply side is sufficient; The expected start of production for greenhouse film enterprises in late November has declined, and the packaging film has not increased significantly, resulting in limited overall demand; The supply and demand fundamentals are weak, and it is expected that polyethylene will mainly operate weakly, but the downward space is limited.

In early November, the domestic ABS market was weak and continued to trend, with most spot prices of various grades lowered. According to the Commodity Market Analysis System of Shengyi Society, as of November 10th, the average price of ABS sample products was 8882.50 yuan/ton, with a price level increase or decrease of -2.87% compared to early November.
Fundamental analysis
Supply level: Since early November, the operating rate of the domestic ABS industry has fluctuated, with large stability and small movements. There is a restart of the Zhenjiang Qimei 7 series production line within the interval; Some production lines of Zhejiang Petrochemical are carrying out equipment upgrade tasks; Sinopec’s Ineos Benzene Line has been shut down for maintenance, and the overall industry load level has been slightly reduced to 71.5%, with an average weekly output of around 145000 tons. The on-site supply remains abundant, and the inventory position of the aggregation enterprise is close to 260000 tons, holding firm at a high level. Overall, the long-term loose supply pattern in the ABS market remains unchanged, and the supply side’s support for ABS spot prices continues to be weak.
Cost factor: In early November, the ABS upstream three material market experienced one rise and two falls, which had a negative impact on the ABS cost side. During the acrylonitrile cycle, the overall supply remained loose, and local enterprise inventories increased. However, the spot price has already fallen to a low point in the early stage, and downstream users have followed up with restocking at low prices. Factory inventory is temporarily controllable, stimulating suppliers to slightly increase their quotes. However, the operating rates of various downstream sectors have remained stable with some declines, and the market continues to lack sufficient upward momentum. It is recommended to closely monitor the trend of the device in the future and wait for further favorable developments.
The domestic butadiene market experienced overall fluctuations in early November. With the continuous decline in prices, it has also attracted some downstream buyers to replenish inventory at low prices, driving the trading atmosphere in the spot market to improve and prices to slightly rebound. On the other hand, there has been no effective improvement in the actual demand of downstream terminals, and the market lacks favorable factors to boost it. It is expected that the butadiene market will be weak and volatile in the short term.
The recent market trend of styrene continues to be weak. Although the raw material pure benzene market has slightly improved, there is a shortage of subsequent orders, and the situation of continued losses persists. In November, the styrene market underwent maintenance and new investment coexisted. Currently, supply is loose and port inventories are at a high level during the same period, with limited upward drive. It is expected that the styrene market will have a weak trend in the short term.
On the demand side: In the medium to long term, the downstream factories of ABS have had average loads. The overall stocking logic of terminal enterprises still maintains the urgent need for replenishment, and the flow rate of goods supply is slow. The inventory position of merchants is also high, and under the increasing pressure of on-site sales, enterprises and merchants continue to offer discounts and take orders. On a macro level, due to the weakened profitability of terminal enterprises and external market turbulence, the consumption of the main downstream electrical appliance shell industry has been hindered, and production has not seen any increase for a long time. The cautious atmosphere in both domestic and foreign markets remains unchanged, and the industry lacks momentum. Overall, there has been no improvement in the demand side’s support for the ABS market.
Market outlook
The domestic ABS market maintained a downward trend in early November. The production load of the aggregation plant remains stable with small fluctuations, while consumer demand remains low and flat. Business analysts believe that the long-term imbalance between supply and demand in the ABS market has dragged down spot prices, making it difficult for the market momentum to improve. At the same time, the three upstream materials have weakened, and many industry players have a bearish attitude. It is expected that there will still be downward pressure on ABS in the short term.

According to the monitoring of the commodity market analysis system of Shengyi Society, the magnesium ingot market in Shaanxi region stopped falling and rebounded this week (11.3-11.7), with an average market price of 16350 yuan/ton at the beginning of the week and 16450 yuan/ton at the end of the week, an increase of 0.61%.

This week, the magnesium market showed a trend of first falling and then rising. At the beginning of the week, the market was in a weak and stable state, with an overall calm atmosphere. Magnesium prices remained relatively stable, and inquiries and purchases were not common in the market. In the later part of the week, there was an increase in the quotation, and the factory further raised the quotation to the range of 16400 yuan to 16500 yuan/ton.
Supply and demand side
In terms of supply and demand, factories on the supply side have a willingness to stabilize prices. This willingness is partly due to the recent slight increase in coal prices on the raw material side. When the price is low, factories are unwilling to reach a deal at a low price, so by the end of the week, the market quotation showed a step-by-step upward trend. However, based on current feedback from downstream markets, customers’ acceptance of high priced products is not high.
Raw material end
The price of coal has risen significantly and is showing a trend of further price increases, while the price of blue charcoal has not yet increased accordingly, and the price of silicon iron has remained basically stable. Overall, the cost has significantly increased.
comprehensive analysis
This week, the market showed clear signals of bottoming out, with coal prices unexpectedly rising during the consolidation phase at the bottom. Affected by this, although magnesium prices have also risen, the increase is not as significant as the cost increase. Given the expected increase in coal and silicon iron prices, it is expected that magnesium prices may further increase in the future.

Market Overview (November 1-6)

According to the Business Society Commodity Market Analysis System, as of November 6, the spot electrolytic nickel price was quoted at 120,750 yuan per ton, down 1.21% on a weekly basis, reaching a three-month low and a year-on-year decline of 4.79%. While macroeconomic sentiment in the nickel market has improved, high inventory levels and weak end-demand continue to constrain prices.
Macro perspective:
The strengthening dollar suppresses metal prices: Internal policy disagreements within the Federal Reserve have raised doubts about the market’s expectations for a December rate cut. The U.S. dollar index surged past the 100 mark, hitting a three-month high, and broadly weighed down dollar-denominated non-ferrous metals.
The U.S.-China rapprochement boosted market sentiment: the U.S. canceled the 10% tariffs on Chinese goods and suspended the 24% retaliatory tariffs for one year, while also postponing Section 301 investigation measures targeting China’s maritime, logistics, and shipbuilding industries. These measures alleviated concerns about escalating trade tensions, providing short-term support to market sentiment.
Supply side:
Nickel ore supply remains tight, with cost support still present: Affected by the rainy season in the Philippines, nickel ore supply is tightening, and ore prices remain firm, providing some cost support for electrolytic nickel. Although the domestic benchmark price for nickel in Indonesia in November (Phase I) was slightly adjusted downward by 0.44%, this adjustment may reflect market expectations of weak nickel demand, which could temporarily dampen the upward momentum of nickel prices.
Global inventories continue to accumulate, with significant oversupply pressure: LME nickel inventories rose by 1,002 tons to 253,104 tons during the cycle, while domestic Shanghai nickel inventories increased by 1,301 tons to 32,689 tons during the same period. The simultaneous rise in both domestic and international inventories reflects that the oversupply situation remains unimproved, continuing to suppress nickel prices.
Demand side:
The stainless steel market operates under pressure: overall production scheduling remains high, but end-user demand has not shown significant improvement. To alleviate inventory pressure, companies are reducing prices to boost shipments, leading to fluctuating and weakening prices. On November 6, the spot price of stainless steel was reported at 12,800 yuan/ton, down 0.78% from the beginning of the month. In November, domestic stainless steel crude steel production plans decreased by 2.06% month-on-month, further weakening support for nickel raw material demand.
Marginal weakening in new energy demand: The production of ternary cathode precursors is expected to decrease by 8% month-on-month to 85,000 tons in November, reflecting a slowdown in the demand for nickel raw materials in the battery power industry chain and a diminished driving effect of the new energy sector on nickel prices.
Market Outlook:
Although the easing of Sino-U.S. relations has brought macroeconomic benefits and somewhat alleviated market pessimism, the fundamentals of the nickel market remain weak. While supply is supported by mineral prices, global inventories continue to accumulate. Coupled with simultaneous weakening demand from the two major downstream sectors—stainless steel and new energy—the upside potential for nickel prices is limited. Short-term nickel prices are expected to remain volatile, requiring close monitoring of inventory drawdown progress and signals of actual downstream consumption recovery.

Overall, the domestic melamine market has continued to operate weakly recently. On November 5th, the benchmark price of melamine in Shengyi Society was 5387.50 yuan/ton, a decrease of 0.92% compared to the beginning of this month (5437.50 yuan/ton), which is at the low level of the price range for the year. Despite the flexible price adjustments of individual companies, it is difficult to reverse the overall decline of the market.

The current market price has slightly declined compared to the beginning of the month, indicating downward pressure. However, the “flexible changes” in the market are also reflected in this. Taking Hebei Xinji Jiuyuan Chemical as an example, although it raised its quotation by 50 yuan/ton to 5350 yuan/ton on November 5th, the actual transaction is still “negotiable”. This reflects that manufacturers are trying to tentatively raise prices, but due to the lack of solid market demand support, the final transaction is often accompanied by discounts. This phenomenon of “clear stability but hidden decline” or “flexible negotiation” is a true reflection of the current market.
Supply side:
The domestic production capacity of melamine is already at a high level. Although the industry’s operating rate remains at around 70%, social inventory is still high and the market supply is sufficient.
Demand side:
The demand for melamine is closely related to the prosperity of the real estate industry, with over half of its production used for manufacturing boards. The current adjustment in the real estate market has directly led to a decline in orders for downstream panel companies, and the procurement of raw material melamine is mainly based on small orders for essential needs, which is difficult to support a price rebound.
Cost side:
The price of urea, as the main raw material, is also running at a low level during the same period. As of November 5th, the benchmark price of urea in Shengyi Society was 1585.00 yuan/ton, a decrease of 1.4% compared to the beginning of this month (1607.50 yuan/ton). This has led to a decrease in the production cost line of melamine, losing a key supporting factor from the cost side, further exacerbating the bearish sentiment in the market.
Overall, against the backdrop of sufficient supply but sluggish demand, the melamine market is unlikely to see any improvement in the short term. It is expected that the market will mainly consolidate weakly, and there may still be a risk of a downward trend in the price center. Any ‘flexible changes’ in the market will be local and temporary, and cannot form a broad upward trend.

Since November, the domestic acrylic acid market has shown an overall stable and weak operation, driven by the fundamental driving force of “terminal rigid demand procurement”. The market lacks strong upward or downward momentum, and under the interweaving of long and short factors, prices fluctuate narrowly, with transactions mainly consisting of small orders for essential needs.

Overall market performance: ‘Stability’ is the main theme
Price level: As of November 4th, the benchmark price of acrylic acid in Shengyi Society is 6500.00 yuan/ton, which is the same as the beginning of this month.
At the transaction level, the characteristic of “essential purchase” is obvious. Downstream factories and traders generally adopt a cautious attitude, and their market purchases are mainly focused on meeting short-term production needs, with rare large orders and hoarding behavior. The market transaction atmosphere is lukewarm, and the phenomenon of “one single talk” is common.
1. Demand side:
The main downstream performance is average:
Acrylic ester (butyl acrylate, etc.): Its downstream industries such as adhesive tape and coatings are in a traditional off-season, with limited order growth and stable consumption of raw materials, making it difficult to form a centralized procurement trend.
SAP (Highly Absorbent Resin): mainly used in the field of hygiene products, with relatively stable demand but lacking unexpected growth points.
Polymer lotion: general demand in construction and textile fields.
Buying up, not buying down mentality: Due to cautious expectations for the future, end users generally do not have a strong willingness to stock up. When prices remain stable or even slightly loose, they tend to prefer “on-demand procurement” and wait for lower prices or clearer market signals.
2. Supply side:
The operating rate remains at a medium high level: Since November, the overall operating rate of the acrylic acid industry has remained around 65% -70%. Although some devices undergo routine maintenance, it has not caused a significant impact on market supply, and the supply of goods is sufficient.
Inventory pressure is controllable: The overall inventory level of production factories is in the middle range, and there has been no serious inventory backlog. This gives the factory a certain confidence in the price game, unwilling to significantly reduce prices for sales, thus forming a bottom support for prices.
3. Cost side:
The price of raw material propylene has weakened: After November, the price of the main raw material propylene has experienced a certain degree of decline. As of November 4th, the benchmark price of propylene in Shengyi Society was 6018.25 yuan/ton, a decrease of 0.66% compared to the beginning of this month (6058.25 yuan/ton). This weakens the cost support of acrylic acid and provides space for the downward trend of acrylic acid prices. The loosening of costs has eased the profit pressure of acrylic acid factories, but at the same time, it has also reduced the market’s acceptance of high priced acrylic acid.
Future prospects:
Short term (until the end of November): The market is likely to continue the pattern of “stable and weak, dominated by rigid demand”. In the absence of significant positive or negative news, prices will fluctuate within a narrow range. If the raw material propylene continues to weaken, there may be a slight downward shift in the price center of acrylic acid.
Summary:

For “terminal essential procurement”, the acrylic acid market since November has been a typical “buyer’s market”. The purchaser has significant bargaining power and choice space, and can easily purchase according to their own production pace without worrying about shortages or price surges. In summary, behind the ‘stable operation’ is the full embodiment of the logic of ‘rigid demand procurement’ under weak supply-demand balance. The market is waiting for new driving factors to break this balance.

Since mid-September, the domestic acrylonitrile market price has continued to decline, further dropping below 7,900 yuan/ton in October, reaching a new low for the year and the lowest level since July 2023. The mainstream off-tank ex-shipment price at East China ports is around 7,850 yuan/ton, down 300 yuan/ton from the beginning of the month and a 34% decrease compared to the peak of 11,900 yuan/ton in February this year. In the Shandong market, the short-distance delivery price is 7,850 yuan/ton, marking a 33.5% decline from the peak of 11,800 yuan/ton in February this year.

The intensification of supply-demand imbalances remains the primary cause
Looking back at historical data, since the acrylonitrile industry entered an overcapacity cycle in 2022, market prices have typically reached their annual lows during the traditional off-season in July-August, then generally showed an upward trend in the fourth quarter. However, this year’s market performance has deviated from the norm. Since the beginning of 2025, the first quarter saw a sharp market rally driven by supply uncertainties, followed by prolonged fluctuations at relatively low levels (between 8,000-8,500 yuan/ton). By the fourth quarter, prices further declined to the lower end of 8,000 yuan/ton.

On one hand, 2025 marks a new round of concentrated capacity expansion following 2022, with 1.05 million tons of new capacity already successfully commissioned as of now, and the majority of the additional supply expected to be gradually released in the second half of the year. On the other hand, downstream industries have increasingly diverged from the traditional peak and off-season patterns due to factors such as upstream price volatility, external market turbulence, and their own supply-demand shifts. Notably, this year’s “Golden September and Silver October” period was largely uneventful, falling far short of the usual consumption growth seen in the same period in previous years.
In terms of the market outlook for the fourth quarter of this year, by October, the maintenance of acrylonitrile production facilities had gradually resumed, with industry capacity utilization rising to nearly 80%, reaching its highest level since March this year and significantly higher than the same period last year. Given the already substantial increase in capacity to 5.421 million tons per year, supply further surged significantly. According to calculations, domestic acrylonitrile production exceeded 400,000 tons in October, marking the highest monthly output in history. Although consumption also showed growth, it lagged far behind the supply increase, resulting in a domestic supply-demand gap of 64,000 tons in October, a relatively high level. Contract and spot sales also faced notable pressure during the month, prompting suppliers to actively lower prices and clear inventory.
However, as the price of acrylonitrile dropped to historically low levels, buyer enthusiasm began to rise. This was also driven by concerns that potential supply fluctuations in acrylonitrile could lead to a price rebound. Consequently, despite no clear expectation of significant growth in actual consumption, downstream users showed strong willingness to build positions.
It is understood that the major acrylonitrile producers have smoothly scheduled their contracts for November, alleviating sales pressure. However, apart from a minor maintenance plan for one production line at Kourou and the delayed restart of Fushun Petrochemical’s 92,000-ton-per-year unit until early November, no clear production cut plans have been announced for other acrylonitrile facilities. As a result, supply is expected to remain high in November and December, indicating limited prospects for easing industry overcapacity.

Market forecast: Overall estimation for November shows that the supply-demand imbalance in the acrylonitrile industry still exists. Although it is understood that the export negotiation volume has also increased, the supply-demand gap is still difficult to reconcile. At the same time, in the short term, the inventory of acrylonitrile industry is shifting to downstream links, but the long-term accumulation pressure has not yet eased. In addition, in the long run, the upstream propylene price may fluctuate around the range of 5900-6100 yuan/ton, and the support of raw material costs has also weakened. Therefore, it is expected that there will still be resistance to the continued upward push of the acrylonitrile market, and there may be slight fluctuations in the short term. If there is no improvement in long-term supply and demand, it is not ruled out that prices will fall again.

In October 2025, the “Silver Ten” of the textile industry will not appear, and the demand for adhesive short fibers will perform averagely, with order execution being the main focus. The market will continue to consolidate weakly, and prices will remain stable overall. As of October 31st, the average price of the domestic adhesive short fiber market was 13120 yuan/ton, unchanged from the same period last month. The market trend of raw material dissolution slurry is stable, with average cost support. The finished product inventory of various adhesive short fiber manufacturers is not high, and there is no obvious inventory pressure at present. Downstream cotton yarn manufacturers mainly execute early orders, and the overall market speed is weak and stable. Follow up is needed as needed.
According to the Commodity Market Analysis System of Shengyi Society, in October 2025, the market price of viscose staple fiber was weakly stable. As of October 31, the average market price of viscose staple fiber was 13120 yuan/ton, which was the same as the previous price. However, due to weak demand, the actual transaction prices were generally lower than the quoted prices. On October 31st, the mainstream quotes in Shandong were concentrated in the range of 13000-13100 yuan/ton, with actual transactions mostly ranging from 12850-13000 yuan/ton.

Insufficient support for raw material costs
The price of viscose staple fiber raw material dissolution slurry remains weak and stable at a low level, with limited cost support. At the end of October, the price of domestically produced dissolving pulp was about 6700 yuan/ton, while the price of broad-leaved pulp was 800 US dollars/ton and coniferous pulp was 870 US dollars/ton. The overall fluctuation was small, and the prices of auxiliary materials such as sulfuric acid and liquid alkali were adjusted narrowly, but effective support was not formed.
Supply and demand demand
The daily operating rate of the industry remains at around 75%, and the inventory level of manufacturers is relatively low. However, some enterprises have adjusted their production load, resulting in a slight decrease in supply. The downstream cotton yarn market is experiencing a shortage of silver, with fabric factory finished product inventory rising and purchasing enthusiasm decreasing. Only vortex spinning export orders are slightly better, and overall demand follow-up is weak. As of October 31st, the price of R30S ring spun cotton yarn in Jiangsu region is around 17200 yuan/ton, and the price of R40S ring spun cotton yarn is around 18300 yuan/ton. The transaction volume in the human cotton yarn market is not ideal.
Future forecast
On the raw material side, the main material dissolution slurry market and the auxiliary material sulfuric acid market are generally stable, while the liquid alkali market may experience a narrow decline. Therefore, it is expected that the market price of adhesive short fiber raw materials will remain weak in the short term, with insufficient cost support.
Supply and demand side: The operating rate of the adhesive short fiber market equipment may not fluctuate significantly, and some manufacturers have low inventory levels. Therefore, it is expected that the supply side support of the adhesive short fiber market will be strong in the short term; The demand in the terminal market has increased, with on-demand procurement being the main focus. It is expected that the driving force of the adhesive short fiber market from the demand side will be limited in the short term.
Overall, the main raw material dissolution slurry market may be weak and stagnant, with both supply and demand lacking driving forces. The overall supply is sufficient, and the inventory of manufacturers is not high. Downstream yarn factories mainly sign orders on demand and purchase on demand. Under the interweaving of on-site news, adhesive short fiber manufacturers may maintain their previous quotations. Therefore, Business Society analysts predict that the domestic adhesive short fiber market will remain stable with small movements in November, and the price is expected to be around 13000-13200 yuan/ton for acceptance.

In October 2025, the price trend of polyester filament will first decrease and then increase, showing a steady adjustment trend. As of October 30th, the mainstream polyester filament factories in Jiangsu and Zhejiang have quoted POY (150D/48F) at 6400-6700 yuan/ton, polyester DTY (150D/48F low elasticity) at 7750-8000 yuan/ton, and polyester FDY (150D/96F) at 6500-6800 yuan/ton.

price trend
Downward trend in the first ten days: After the National Day and Mid Autumn Festival holidays, the polyester filament market experienced sluggish trading, and production enterprises quickly accumulated inventory. As of October 9th, the average inventory of polyester filament sample enterprises reached 22 days, an increase of 4 days from before the holiday. From October 13th to 17th, the overall market showed a weak downward trend, with the price center of gravity shifting downwards. On October 20th, the prices of polyester POY, FDY, and DTY all experienced varying degrees of decline. The price of polyester POY was 6750 yuan, with a daily increase and decrease of -2.61%. The price of polyester FDY was 6826.67 yuan, with a daily increase and decrease of -2.52%. The price of polyester DTY was 7931.25 yuan, with a daily increase and decrease of -1.86%.
Mid month stabilization and rebound: On October 23rd, due to the rise in international oil prices and the improvement of the textile market, some polyester factories reduced their discounts on polyester filament or raised their prices by 50-100 yuan/ton. On October 24th, Rongsheng Petrochemical partially increased DTY by 50-100, POY and FDY both increased by 50, and some FDY increased by 100.
Shock finishing in the last ten days: On October 30, the overall shock finishing of polyester filament was carried out, with scattered small batch transactions in the majority and stable price adjustment. The mainstream quotation of POY150D/48F was 6450-6500 yuan/ton of cash, and the mainstream quotation of DTY150D/48F was 7750-7850 yuan/ton of cash. The price of FDY was increased due to losses, mainly reflected in the fine wires.
market analysis
Cost factor: From October 22nd to 23rd, international oil prices significantly rebounded, leading to an increase in polymerization costs, which compressed the profit margins of polyester filament production enterprises and significantly increased their willingness to raise prices, providing support for polyester filament prices.
Supply and demand relationship: In terms of supply, the industry had high inventory in the early stage. As of October 17th, the weaving factory’s raw fabric inventory was significantly higher than the same period last year, making it difficult for the trading volume of polyester filament to continue to rise. In terms of demand, the recovery of demand during the peak season of “Golden September and Silver October” in the early stage was weak, and downstream weaving enterprises were cautious in procurement, mainly focusing on replenishing inventory for essential needs. But in late October, the arrival of cold air caused the demand for winter fabrics to begin to pick up. On October 21st, the average production and sales rate of polyester filament sample enterprises soared to 367.9%, and by the end of the 27th, the average production and sales rate of sample enterprises also reached 218%. The boost in demand has played a certain role in supporting prices.
Market mentality: With the improvement of the market situation, polyester manufacturers have adjusted their quotations in order to seize market share. The market mentality has improved, and some enterprises have increased their willingness to raise prices. However, due to the overall high inventory, there is still a cautious wait-and-see attitude downstream