According to the Commodity Market Analysis System of Shengyi Society, the price of polyester staple fiber slightly decreased in July. As of July 21, the average market price of domestic polyester staple fiber (1.4D * 38mm) was 6610 yuan/ton, a decrease of 1.85% from the beginning of the month.
The crude oil market is mainly volatile, with the settlement price of the September WTI crude oil futures contract in the United States at $66.05 per barrel as of the 18th, and the settlement price of the September Brent crude oil futures contract at $69.28 per barrel. The crude oil market is affected by both bullish and bearish factors. On the one hand, OPEC+has released its annual world oil outlook and lowered its energy demand expectations, putting pressure on oil prices. On the other hand, the geopolitical situation in the Middle East has led to increased sanctions against Russia by the United States, and the United States will impose a 30% tariff on most imported goods from the European Union and Mexico from August 1st, causing fluctuations in the crude oil market.
The PTA market went out of stock from March to June, and in July, maintenance facilities resumed production one after another, increasing the supply margin. The market lacks unplanned news guidance. In addition, with the start of trial production of 3.2 million tons of PTA new capacity in East China, the supply has increased, and the current operating rate of the PTA industry is around 80%.
July is currently in the off-season for textile production, with poor downstream purchasing enthusiasm and a sluggish yarn market. Some factories have reduced their order volume, resulting in insufficient order follow-up. Purchasing is cautious, with a focus on essential needs. Terminal demand continues to be sluggish, and fabric inventory continues to accumulate, forcing factories to alleviate capital turnover pressure by reducing production. Coupled with a decrease in foreign trade orders, most of them focus on digesting inventory.
Business analysts believe that some polyester staple fiber factories will reduce production and undergo more maintenance in July, and it is expected that industry supply will decline. However, the overall weak performance of raw materials and weak demand have dragged down market sentiment, which will further suppress the price of polyester staple fibers.
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