According to the Commodity Market Analysis System of the Business Society, the domestic polyester staple fiber market prices have slightly rebounded recently. As of October 18th, the average price quoted by the 1.4D * 38mm polyester staple fiber factory was 7722 yuan/ton, an increase of 0.39% compared to October 15th.
Due to the macroeconomic and global geopolitical turmoil, the recent international crude oil prices have experienced significant fluctuations. As of October 17th, the settlement price of the main contract for WTI crude oil futures in the United States was $86.66 per barrel, while the settlement price of the main contract for Brent crude oil futures was $89.90 per barrel.
PTA fluctuates with crude oil prices, but the amplitude is not significant. As of October 18th, the PTA market price in East China was 5867 yuan/ton. There are maintenance and load reduction phenomena in the PTA factory, with Hengli Petrochemical’s 2.2 million ton unit undergoing maintenance for about two weeks on October 7th, and Ineos 1 # 1.1 million ton PTA unit undergoing maintenance from mid October to the end of November. The load of the 2 # 1250000 ton device is between 80-90%. The current PTA industry’s construction has decreased to around 74%.
Downstream yarn factories purchase according to demand, with a cautious purchasing mindset. The yarn factory’s shipments are average, and the operation is relatively stable. At present, the reference price for pure polyester yarn in the Shandong region is 12850 yuan/ton. The profit of the yarn factory is still in a loss state, and the trading atmosphere is average. The new season orders have been placed for production, but it has not yet reached the level of the same period in previous years.
Analysts from Business Society believe that the current polyester staple fiber market is mainly on a wait-and-see basis, with stable costs and no obvious driver of supply and demand. It is difficult for downstream actual demand to improve significantly and has been lukewarm. It is expected that the price of polyester staple fibers may decline in the short term.
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