According to the Commodity Market Analysis System of Shengyi Society, on December 20th, the mainstream polyester filament factories in Jiangsu and Zhejiang Province quoted POY (150D/48F) at 6850-7200 yuan/ton, polyester DTY (150D/48F low elasticity) at 8100-8500 yuan/ton, and polyester FDY (150D/96F) at 7300-7500 yuan/ton, with local price increases.
In terms of cost: Recently, the domestic PTA spot market has seen a slight upward trend. According to the Commodity Market Analysis System of Shengyi Society, as of December 19th, the average price of PTA in the East China region was 4809 yuan/ton, an increase of 2.85% compared to December 9th. The escalation of geopolitical tensions between Russia and Ukraine has prompted the United States to announce a new round of sanctions against Russia. In addition, OPEC+may extend its production reduction plan again at its December meeting and may postpone it until the second quarter of next year, which is positive news for international oil prices. However, the weak demand in the international crude oil market and investors’ concerns about the prospect of oversupply in the crude oil market still exist, which is bearish for the oil market. As of December 20th, the settlement price of the main contract for WTI crude oil futures in the United States was $69.91 per barrel, and the settlement price of the main contract for Brent crude oil futures was $72.88 per barrel.
In terms of supply and demand, the market price of polyester filament has shown a fluctuating downward trend since the third quarter, with a slight increase in the second week of December. Due to the approaching Spring Festival, manufacturers have started to offer discounts on shipments this month, resulting in an increase in the production and sales rate of polyester filament and a significant decrease in inventory. After a wave of promotions in mid December, the price of polyester filament has risen narrowly this week. On the other hand, low inventory has boosted the confidence of manufacturers and increased the enthusiasm of enterprises to raise prices. In addition, the improvement of the raw material supply environment and the narrow rise in prices have given a certain boost to the polyester filament market.
According to analysts from Shengyi Society, with the recent seasonal increase in foreign trade orders and increased purchasing efforts by end-users, the production and sales of polyester factories have significantly increased, greatly alleviating inventory pressure. Overall, it is expected that the polyester filament market will show a fluctuating trend, and may maintain a strong trend before the Spring Festival, with price fluctuations possibly between 50-100 yuan/ton.
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