According to the Commodity Market Analysis System of Shengyi Society, the price of polyester staple fiber has risen significantly recently. As of June 19th, the average market price of domestic polyester staple fiber (1.4D * 38mm) was 6803 yuan/ton, an increase of 4.51% compared to June 11th.
| Gamma-PGA (gamma polyglutamic acid) |
Affected by geopolitical events, international oil prices have risen. On June 18th, the settlement price of the August WTI crude oil futures contract in the United States was $73.50 per barrel, and the settlement price of the August Brent crude oil futures contract was $76.70 per barrel. Combined with the continuation of the traditional fuel consumption peak season in the United States, crude oil inventories have maintained a trend of destocking, providing favorable support for oil prices.
The domestic PTA spot market followed the rise of crude oil, with the average PTA market price in East China at 5246 yuan/ton as of June 19th, an increase of 7.69% from June 11th. In terms of supply, the PTA operating rate rose to 83.6% in June, and the peak of PTA plant maintenance has passed. The new production capacity has been put into trial operation, and the fundamentals have suppressed its increase. The 2.5 million ton annual production facility of Honggang Petrochemical has been successfully put into operation, but with the addition of new production capacity, the pressure of overcapacity has intensified.
After entering June, the seasonal off-season for terminals has arrived, with weak demand and gradually weakening terminals without sustained support. Currently, there is a shortage of domestic and foreign trade orders, with a small number of autumn and winter orders being the main focus. The future orders are uncertain, and the recovery is not as expected.
Business analysts believe that the cost side support is stable, and crude oil prices are firm, but there is an expectation of weakened supply and demand, and it is expected that there is a risk of a surge and a fall in the price of polyester staple fibers.
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