According to the Commodity Market Analysis System of the Business Society, the prices of domestic polyester filament have slightly rebounded recently. As of May 25th, mainstream polyester filament factories in Jiangsu and Zhejiang regions have quoted prices of 7350-7750 yuan/ton for polyester POY (150D/48F), 8700-9200 yuan/ton for polyester DTY (150D/48F low elasticity), and 8050-8400 yuan/ton for polyester FDY (150D/96F).
Recent average price fluctuations in the polyester filament market Unit: yuan/ton
Product/ May 19th/ May 25th/ Up and down/ Year-on-year increase and decrease
Polyester DTY/ 8883./ 8898./ 0.17%./ -9.43%
Polyester FDY/ 8154./ 8176./ 0.27%./ -10.53%
Polyester POY/ 7431./ 7465./ 0.45%./ -13.87%
The unexpected significant decline in US crude oil inventories, coupled with a public speech by the Saudi Energy Minister, has raised concerns about further production cuts by OPEC+, an oil producing country. On May 24th, international crude oil futures rose. The settlement price of the main contract for WTI crude oil futures in the United States was $74.34 per barrel, an increase of $1.43 or 2.0%. The settlement price of the Brent crude oil futures main contract was $78.36 per barrel, an increase of $1.52 or 2.0%.
|Gamma-PGA (gamma polyglutamic acid)|
In May, the PTA maintenance equipment in China remained concentrated, and the industry’s operating rate has been lowered to below 75%. Supply is expected to shrink, with short-term supply reduction and demand increase, and the accumulation of inventory decreasing. On May 25, the price of domestic PTA spot market rose slightly, and the average price in East China was 5599 yuan/ton, up 1.27% from May 16.
Driven by the warming atmosphere at the raw material end, there are replenishment actions downstream, and the weaving enterprise’s start-up rate has slightly increased to over 60%. However, the current textile market orders are still dominated by rigid orders, and new foreign trade orders are also relatively weak, resulting in a relatively small overall order volume.
Analysts from Business Society believe that the crude oil market is relatively strong, with more short-term PTA maintenance. However, processing fees have gradually been fixed with the decline of PX, and it is expected that the enthusiasm for subsequent construction will increase. With the restoration of profits, the construction of polyester factories has rebounded, but its sustainability is difficult to maintain, and the downstream terminal market is weak and showing signs of fatigue. It is expected that in the short term, the cost side atmosphere will improve and the price of polyester filament will stabilize and rise, but there is still some pressure on the demand side.