According to the Commodity Market Analysis System of the Business Society, the domestic polyester staple fiber market showed a slight upward trend this week (August 7-11) driven by cost benefits. As of August 11, the average factory price of 1.4D * 38mm polyester staple fiber was 7651 yuan/ton, an increase of 0.44% compared to the beginning of the week.
The crude oil volatility is relatively strong, and concerns about supply tightening have driven the oil price to a nearly nine month high. As of August 10th, the settlement price of the main contract for WTI crude oil futures in the United States was at $82.82 per barrel, while the settlement price of the main contract for Brent crude oil futures was at $86.40 per barrel. Under low processing costs, there has been an unexpected increase in PTA device maintenance and a decrease in supply recently. This week, the domestic PTA market showed a slight recovery, with the average market price in East China as of August 11th at 5914 yuan/ton, an increase of 1.09% compared to the beginning of the week.
The downstream yarn market is still stable and wait-and-see, with a consolidation trend as the main trend. Most yarn factories and traders are calm and waiting for the peak season, and some yarn factories have taken low-priced restocking actions, resulting in a relatively slow increase in power. As of August 11th, the average price of pure polyester yarn in the Shandong region remained stable at 12775 yuan/ton, a year-on-year decrease of 10.66%. At present, yarn mills generally indicate that although inventory pressure is not high, they are somewhat cautious about the future market.
Analysts from Business Society believe that the strong prices of short-term raw materials will still provide favorable support for the polyester short market. Considering that the traditional peak season in September is approaching and downstream yarn orders are expected to improve, the polyester short staple market will continue to operate stronger in the short term.
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