According to the Commodity Market Analysis System of Shengyi Society, the price center of polyester filament increased by 50-100 on July 24th. The production and sales rate of the sample enterprises was 107.1%, an increase of 54.8% compared to the 23rd. The orders waiting for inquiries in the early stage were placed in a concentrated manner, and the sales volume increased significantly compared to the previous days. The mainstream polyester filament factories in Jiangsu and Zhejiang offer POY (150D/48F) prices ranging from 6600-6800 yuan/ton, polyester DTY (150D/48F low elasticity) prices ranging from 7700-8050 yuan/ton, and polyester FDY (150D/96F) prices ranging from 6800-7100 yuan/ton.
With the recovery of commodity sentiment, the cost side support is relatively strong. Due to the tight circulation of local sources, the market price of polyester filament has risen. However, considering the continuous maintenance of essential procurement downstream and the overnight decline in crude oil prices, as of the early morning of July 24th, the electronic price of WTI August crude oil futures in the United States fell by $0.53, a decrease of 0.81%, to $64.78 per barrel. The London Brent crude oil futures price for September delivery fell by $0.69, or 1.00%, to $68.03 per barrel, with limited cost support and cautious market sentiment in pursuit of gains, resulting in limited intraday gains.
Today, polyester filament yarn rebounded and stopped falling under the drive of reduced production and price increases, as well as phased replenishment of inventory. However, weak demand and high inventory have constrained the overall upward potential. Business Society believes that the sustainability of the short-term rebound depends on the recovery of downstream operating rates and the intensity of production cuts. The price decline space in the short term is relatively small, and it is expected to remain stable or moderately strong.
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