According to the Commodity Market Analysis System of Shengyi Society, the domestic polyester staple fiber market has fluctuated slightly downward since August. As of August 19th, the average price of 1.4D * 38mm in mainstream factories in Jiangsu and Zhejiang was 7618 yuan/ton, a decrease of 1.72% from the beginning of the month. Polyester staple fiber factories have reduced production to maintain prices, but cost adjustments have weakened, coupled with insufficient demand support, which has dragged down the prices of polyester staple fibers.
| Gamma-PGA (gamma polyglutamic acid) |
In the future, the trend of US oil destocking in the crude oil market is not as expected, and the support for the oil market is limited. We still need to be vigilant about changes in the geopolitical situation, and oil prices may remain stable. As of August 16th, the settlement price of the main contract for WTI crude oil futures in the United States was $76.65 per barrel, and the settlement price of the main contract for Brent crude oil futures was $79.68 per barrel. Recently, the overall supply capacity of PX in Asia has been at a high level, coupled with the continued shutdown plans of some PTA plants in China, resulting in a consolidation of PX prices at a low level.
The domestic PTA market has fluctuated and adjusted weakly, with the average spot price of PTA in East China at 5446 yuan/ton, a decrease of 6.58% from the beginning of the month. In terms of supply, the current operating rate of the PTA industry in China is around 86%, maintaining a high level, and the overall supply of goods is still abundant.
Terminal demand is still in the off-season, and finished product inventory is still mainly accumulated. Downstream enterprises are cautious about raw material procurement, mainly focusing on sporadic and essential purchases. The improvement in autumn and winter orders is limited, and the overall performance is poor. Currently, the operating rate in Jiangsu and Zhejiang remains around 63%. With the gradual reduction of high temperature weather and the increase in downstream production, the demand for polyester staple fibers may increase slightly.
Business analysts believe that although polyester staple fiber factories continue to reduce production, there is a lack of highlights in the fundamentals, with cost declines and weak demand. It is expected that polyester staple fiber prices will continue to decline.
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