After the Spring Festival, the domestic polyester filament market prices have adjusted strongly, and mainstream polyester filament factories in Jiangsu and Zhejiang have a strong sense of price increase. Among them, POY (150D/48F) is priced at 7700-8000 yuan/ton, polyester DTY (150D/48F low elasticity) is priced at 9000-9300 yuan/ton, and polyester FDY (150D/96F) is priced at 8450-8700 yuan/ton. The strengthening of crude oil on the cost side is supported by favorable factors, and downstream textile enterprises are gradually resuming work, with a focus on on-demand procurement.
| Gamma-PGA (gamma polyglutamic acid) |
On February 18th, the average price increase and decrease of domestic polyester filament market Unit: yuan/ton
Product/ February 6th/ February 18th/ Up and down/ Year-on-year rise and fall
Polyester DTY/ 9092./9137./0.49%/ 3.56%
Polyester FDY/ 8646./8684./0.44%/ 5.44%
Polyester POY/ 7840./7898/ 0.74%/ 3.86%
The geopolitical crisis continues to affect supply, and crude oil continues to strengthen. As of February 16th, the settlement price of the US WTI crude oil futures main contract was $78.46 per barrel, and the settlement price of Brent crude oil futures main contract was $83.47 per barrel.
During the Spring Festival holiday, the domestic PTA futures market remained silent, and CFR China’s trend followed the strength of crude oil. As of February 16th, CFR China rose to $778 per ton, up 2.10% before the holiday.
In the short term, international crude oil prices are temporarily strong, and the peak production of PX has passed. The future increase in production capacity is limited, and the supply situation remains tight. At the same time, the seasonal maintenance cycle of PX is approaching. In terms of PTA, with the expansion of the industry, there is still overcapacity. By the end of 2023, the total PTA production capacity reached 80.615 million tons, with a growth rate of 16.4%. The processing fee is showing a decreasing trend year by year, and some mainstream PTA suppliers have released maintenance plans for March and April, supporting the temporary healthy operation of processing fees. The downstream terminal textile demand will gradually recover with the resumption of work during the Spring Festival, and with the traditional peak season approaching in March, domestic and foreign trade orders will heat up.
Analysts from Business Society believe that under the expectation of a stronger upstream and downstream market, the price center of polyester filament may continue to shift upwards.
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