SunSirs: This Week, the Price of Polyester Filament Remained Stable with Small Fluctuations (September 23-27)

https://www.chemnet.com   Sep 29,2024 SunSirs

Price trend                               

According to the Commodity Market Analysis System of SunSirs, on September 27th, the mainstream polyester filament factories in Jiangsu and Zhejiang Province quoted POY (150D/48F) at 6,900-7,200 RMB/ton, polyester DTY (150D/48F low elasticity) at 8,400-8,800 RMB/ton, and polyester FDY (150D/96F) at 7,400-7,700 RMB/ton.

Analysis review

In mid to late September, the domestic PTA spot price stopped falling and stabilized. As of September 27th, the average spot price of PTA in East China was 4,878 RMB/ton, an increase of 2.11% from September 23rd. The tense situation in the Middle East and the possibility of a resurgence in crude oil prices, coupled with a strong trend in international oil prices, had raised support for PTA costs. In addition, macroeconomic sentiment had improved, and the general rise in commodity markets had triggered resonance. Due to the unplanned shutdown of multiple PTA plants, prices have stopped falling and rebounded slightly.

In terms of demand, the market had improved significantly, but the cautious atmosphere continued. After the Mid Autumn Festival, there had been an improvement, and the order volume had increased significantly. Starting from September 26th, a strong cold air departed from Xinjiang and affected most parts of China from west to east. The maximum cooling range in northern regions can reach 10-12 ℃. After the cooling, the national temperature will hit a new low after the beginning of autumn on a large scale. Cooling weather can effectively stimulate the sales of seasonal clothing. In addition, the central bank's monetary policy has expanded its measures, lowering the reserve requirement ratio by 0.5 percentage points and lowering the interest rate on existing housing loans, which was also conducive to unleashing consumption potential.

Market outlook

Overall, analysts from SunSirs predict that the willingness of filament enterprises to ship still exists, and it is expected that the filament market prices will remain stable and fluctuate in the short term, with rigid demand. In the future, attention needs to be paid to the trend of the raw material market and the issuance of downstream orders.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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