According to the Commodity Market Analysis System of Shengyi Society, the domestic price of polyester staple fiber slightly increased this week (October 20-24). As of October 24, the average market price of polyester staple fiber (1.4D * 38mm) was 6314 yuan/ton, an increase of 0.38% from the beginning of the week.
The decline in commercial crude oil inventories in the United States, coupled with the easing of market concerns about trade disputes, has led to an increase in international oil prices. On October 23rd, the settlement price of the December WTI crude oil futures contract in the United States was $61.79 per barrel, and the settlement price of the December Brent crude oil futures contract was $65.99 per barrel.
The strengthening of oil prices has boosted PTA prices. As of October 24th, the spot price of PTA in East China was 4468 yuan/ton, an increase of 2.41% from the beginning of the week. From the perspective of its own supply, the supply side of Yisheng Ningbo’s 2.2 million ton plant reduced its load to 80% on October 17th, and Yisheng New Materials resumed production of 3.6 million tons on October 14th. The overall operating rate of the industry is around 75%. The follow-up maintenance plans for Sichuan Energy Investment with 1 million yuan and INEOS with 1.1 million yuan in October, and Dushan Energy’s new device with 3 million yuan planned to be put into operation next week, will be closely monitored for actual implementation.
On the demand side, most textile companies have performed well in terms of orders, but there is a slight weakness in subsequent renewal orders. Therefore, yarn factories’ quotations remain stable for the time being, and actual transactions are mostly subject to market conditions. The terminal weaving orders have recently improved due to the cold weather, with a temporary improvement in sentiment. However, the product differentiation is significant, and the overall demand is lower than the same period in previous years. Most of them focus on preparing raw materials in the early stage of digestion, maintaining a strong demand for raw material procurement.
Business analysts believe that the strengthening of polyester staple fiber prices is mainly influenced by the recovery of the cost side. Looking at the future, short-term support on the cost side still exists, while downstream demand is expected to improve with the cooling weather and a structural rebound in domestic sales. Autumn and winter orders will also see some improvement. Therefore, there is a sustained expectation of a rebound in the short-term polyester staple fiber market.
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