According to monitoring by the Business Society, the price of polyester staple fibers has maintained an upward trend since April, with an average ex factory price of 7876 yuan/ton on April 3rd, an increase of 4.65% compared to the previous day.
| Gamma-PGA (gamma polyglutamic acid) |
On April 2, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) suddenly announced a significant production reduction, which is estimated to exceed 1 million barrels per day. Affected by this news, the Asian session of national crude oil saw a significant increase. As of 9:00 am Beijing time on the 3rd, Brent crude oil futures prices reached a maximum of $86.44 per barrel, while WTI crude oil futures prices rose as high as $81.69 per barrel. Meanwhile, as the domestic PX maintenance season approaches, supply is expected to be tight, and PTA continues to show a strong trend. Driven by cost benefits, the price of polyester staple fibers has increased significantly.
Under the influence of the mentality of buying up rather than buying down, it has triggered downstream speculative stocking, leading to a slight decline in short fiber finished product inventory. At present, the operating rate of pure polyester yarn enterprises is at a high level, but the lack of orders is relatively light. Manufacturers mainly produce domestic orders, and there has been no substantial improvement in the foreign market. The inventory of finished products in yarn factories continues to accumulate, and most of them maintain a cautious and on-demand procurement model for raw materials and short fibers.
Analysts from Business Society expect to continue to be supported by costs in the short term, and the price of polyester staple fibers will remain relatively high.
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