According to the price monitoring of the business agency, the domestic polyester filament market showed a weak trend last week (November 22-26), and it stopped falling and rebounded late in the trading session. Up to now, mainstream factories in Jiangsu and Zhejiang regions offer polyester POY (150D/48F) at 7450-7650 yuan/ton, polyester DTY (150D/48F low-elasticity) at 8900-9300 yuan/ton, and polyester FDY (150D/96F) at 7650. -7850 yuan/ton.
It is reported that on November 25th, a number of domestic mainstream polyester factories discussed and reached a consensus to implement a 20% production reduction plan on the basis of the current output. The plan has been implemented in the past two days. The industry operating rate is around 83%.
Crude oil fell off the cliff, South Africa’s new variant virus triggered a huge market wave, and U.S. oil plunged 13%, the biggest drop since April last year. As of the close of last Friday, the New York Mercantile Exchange West Texas Intermediate Crude Oil (WTI) futures price closed down 10.24 US dollars, a decrease of 13.1%, to 68.15 US dollars / barrel. London Intercontinental Exchange Brent crude oil (ICE) futures prices closed down 9.5 US dollars, a decline of 11.6%, to 72.72 US dollars / barrel.
Last week, the domestic PTA market rose first and then fell, with a weekly decline of 0.25%, an increase of 43.02% year-on-year, and a 7-week consecutive decline. Yisheng Petrochemical and Yisheng New Materials announced the November PTA (tentative) settlement price of 4,920 yuan/ton; Hengli Petrochemical’s November PTA settlement price of 4,959.95 yuan/ton. The restart and overhaul of PTA devices coexist, and the current operating rate of the PTA industry is around 82%. The current market supply is sufficient. As downstream polyester plants reduce production, demand is expected to decline.
With the weakening of the raw material market, downstream end customers are not interested in getting the goods, so they buy on demand, and the overall market trading atmosphere is thin. Textile enterprises mainly consume inventory, and the wait-and-see atmosphere increases. Orders in the domestic market continued to decline, new orders for foreign trade were not issued smoothly, factory shipments were slow, and the mentality tended to be cautious. The operating rate of looms in Jiangsu and Zhejiang was around 67%.
Business agency analysts believe that, at present, major polyester manufacturers plan to reduce production, overhaul, and supply reduction, which will ease the inventory pressure of polyester filament factories, so prices are favorably supported. However, production reduction efforts still need to be implemented, and terminal demand has not substantially improved, and the cost of the superimposed decline in crude oil has collapsed. On the whole, it is expected that the price of polyester filament will show a narrow and weak trend in the near future.
The domestic polyester filamen
