SunSirs: Cost and Demand Were under Downward Pressure, Polyester Staple Fiber Prices Weakened

https://www.chemnet.com   Aug 07,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic polyester staple fiber market fell on August 6th. The average price of 1.4D * 38mm in mainstream factories in Jiangsu and Zhejiang was 7,835 RMB/ton, a decrease of 0.97% from the previous trading day, with prices ranging from 7,600-7750 RMB/ton, a general decrease of 50-100 RMB/ton.

Analysis review

The overall trend of the commodity market continued to be weak, and pessimistic sentiment remains strong. The cost support was insufficient due to the significant decline in raw materials. Among them, the average price of PTA spot market in East China was 5,657 RMB/ton, down 1.01% from the previous trading day. Downstream was in the traditional off-season, with insufficient orders and cautious follow-up of buying orders, resulting in a sluggish market transaction volume.

Market outlook

Sunsirs’ analysts believe that polyester staple fiber production factories are still in a production reduction cycle, but under the downward pressure of costs and demand, it is expected that the polyester staple fiber market will continue to operate to be weaker.

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