According to the commodity market analysis system of Shengyi Society, the price of polyester filament showed a stable to slightly upward trend today. From May 9th to 12th, driven by the rise in international oil prices and polyester raw material costs, on May 10th, chemical fiber giants such as Rongsheng Petrochemical continued to raise the prices of some products. DTY and POY increased by 50 yuan/ton, and semi transparent FDY increased by 50-100 yuan/ton. On May 12th, the mainstream polyester filament factories in Jiangsu and Zhejiang quoted POY (150D/48F) at 6550-6750 yuan/ton, polyester DTY (150D/48F low elasticity) at 7800-8200 yuan/ton, and polyester FDY (150D/96F) at 6700-6900 yuan/ton.
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In terms of cost, international crude oil futures rose on May 9th. The settlement price of the main contract for WTI crude oil futures in the United States was $61.02 per barrel, an increase of $1.11 or 1.9%. The settlement price of the main Brent crude oil futures contract was $63.91 per barrel, an increase of $1.07 or 1.7%. Driven by the rise in crude oil prices, the prices of polymer raw materials such as PTA and MEG have risen. As of May 9th, the average market price in East China was 4750 yuan/ton, an increase of 3.63% from the beginning of the month. Directly increase the production cost of polyester filament.
In terms of supply and demand, the production and sales rate of polyester factories remained at 70-90% in early May, with some companies achieving a daily sales rate of 300% -1000% due to promotional orders. However, downstream hoarding willingness is relatively low, with a focus on essential purchases. May is a traditional seasonal off-season, and the demand growth of downstream weaving enterprises may be limited. In addition, due to low-priced replenishment in the early stage, the downstream may enter the stage of digesting inventory in the short term, and the purchasing enthusiasm for polyester filament may decrease. However, industry leaders such as Zhejiang Petrochemical and Shenghong Refining have recently experienced equipment maintenance and capacity reduction, which will to some extent reduce market supply and support prices.
Macroscopically, starting from May 15th, the central bank lowered the reserve requirement ratio for financial institutions, policy interest rates also decreased, and market liquidity increased, theoretically boosting the price of polyester filament.
Business Society predicts that in the short term, under the background of cost support and tight supply, the price of polyester filament is expected to maintain a narrow range of fluctuations, or remain stable and slightly strong. But if the textile and clothing industry fails to significantly increase orders, the market may still face upward resistance.
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