The domestic polyester staple fiber market has relatively loose supply of goods, and downstream on-demand procurement transactions are sluggish. Recently (February 12-20), prices have shown a slight weakening. According to the Commodity Market Analysis System of Business Society, as of February 20, the average market price of domestic polyester staple fiber (1.4D * 38mm) was 6985 yuan/ton, a decrease of 1.06%. The average ex factory price of mainstream factories in Jiangsu and Zhejiang regions was 7276 yuan/ton, a decrease of 0.68%.
| Gamma-PGA (gamma polyglutamic acid) |
Looking at the future, in the international crude oil market, the CPC oil pipeline in Russia has been attacked, resulting in a reduction of about 30% in oil transportation volume and supply, which will continue to drive up oil prices. As of February 19th, the settlement price of the main contract for WTI crude oil futures in the United States was $72.25 per barrel, and the settlement price of the main contract for Brent crude oil futures was $76.04 per barrel.
The international crude oil market is relatively strong, and under the news game of PTA cost support, sufficient spot supply, and less than expected demand recovery, there has been an overall strong oscillation in recent times. As of February 20th, the average market price in East China was 5122 yuan/ton, an increase of 0.89% compared to February 13th. Under the low processing error of PTA, maintenance plans for PTA units have been gradually launched, and the extent of destocking has expanded compared to expectations. However, downstream polyester factories have limited raw material procurement, only maintaining essential needs or digesting early stock, resulting in increased resistance to inventory transfer at present.
The recovery of terminal textile demand is not smooth, the enthusiasm for buying is average, and the follow-up of essential procurement is maintained, resulting in a weak trading atmosphere. Insufficient follow-up on weaving orders, slow resumption of work in Jiangsu and Zhejiang provinces, and overall shortage of fabric orders. The operating rate has slightly increased to 56%, but the progress is lower than expected.
Business analysts believe that the current cost support is still acceptable, and with the arrival of the traditional consumption peak season of “gold, silver, and four”, the demand side will also improve. It is expected that the price of polyester staple fiber may rise slightly.
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