On December 13th, the domestic polyester filament market saw a weak adjustment in prices. Mainstream polyester filament factories in Jiangsu and Zhejiang regions showed positive shipping intentions and offered discounts on actual transactions. Among them, the price for polyester POY (150D/48F) ranged from 7350 to 7550 yuan/ton, the price for polyester DTY (150D/48F low elasticity) ranged from 8650 to 9000 yuan/ton, and the price for polyester FDY (150D/96F) ranged from 8100 to 8300 yuan/ton. The trend of raw materials has significantly declined, and downstream companies have a strong cautious attitude. The market transaction atmosphere is exceptionally light, with only sporadic demand as the main focus.
On December 13th, the average price increase and decrease of domestic polyester filament market Unit: yuan/ton
Product/ December 12th/ December 13th/ Up and down/ Year-on-year rise and fall
Polyester DTY/ 8975./8975./0.00%./8.57%
Polyester FDY/ 8274./8254./-0.24%./5.53%
Polyester POY/ 7615./7606./-0.11%./6.44%
On December 12th, international crude oil futures plummeted. The settlement price of the main WTI crude oil futures contract in the United States was $68.61 per barrel, a decrease of $2.71 or 3.8%. The settlement price of Brent crude oil futures main contract was 73.24 yuan/barrel, a decrease of 2.79 US dollars or 3.7%. Oil prices have reached their lowest point in the past six months, mainly due to an unexpected increase in US inflation data, which has lowered market expectations for the Federal Reserve’s interest rate cut early next year, coupled with concerns about oversupply.
PTA followed the decline in crude oil, coupled with the production of Yisheng Hainan’s new unit, Shandong Weilian restarted, and Fuhai Chuang increased its burden. PTA load increased to over 80%. Supply and cost drag, PTA fluctuates weakly. As of December 13th, the spot price of PTA in the East China region was 5657 yuan/ton, a decrease of 1.24% from the previous day.
Entering December, terminal demand has significantly weakened, orders have decreased, and the winter replenishment market is coming to an end. Recently, the shipment speed of autumn and winter fabrics has slowed down compared to the previous period, and downstream factories have relatively poor enthusiasm for stocking raw materials, which has dragged down the price of polyester filament. The downstream has a bearish attitude and the raw materials have not been digested, so the procurement of polyester filament is mainly based on rigid demand.
Analysts from Business Society believe that the increase in PTA for raw materials will lead to new investment and restart pressures in the future. The shortage of spot goods may ease, and the cost side will once again be under pressure. The downstream off-season has obvious characteristics, making it difficult to maintain the demand for polyester filament. The upstream and downstream are bearish, and it is expected that the price of polyester filament will continue to be weak.
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