Recently, with the red of raw materials, the market price of polyester filament has ushered in a wave of rebound. According to the price monitoring of the business club, as of July 27, the prices of various products have increased to varying degrees compared with July 22. Among them, polyester DTY and polyester POY have increased by 1.39% and 1.19% respectively, and polyester FDY has increased by 0.98%.
| PVA |
Rise and fall of average market price of polyester filament unit: yuan / ton
Products, 2022-07-22, 2022-07-27, rise and fall, year-on-year rise and fall
Polyester POY (150d/48f), 7922, 8016, 1.19%, 2.12%
Polyester FDY (150d/96f), 8478, 8561, 0.98%, 6.02%
Polyester DTY (150d/48f low elasticity), 9171, 9298, 1.39%, -2.19%
In terms of raw materials, near the end of the month, due to concerns about supply tightening, crude oil prices have slightly warmed up. As of July 26, the settlement price of the main contract of WTI crude oil futures in the United States was $94.98 / barrel, and the settlement price of the main contract of Brent crude oil futures was $99.46 / barrel. The operating rate of PTA industry remained low near 73%. The price of crude oil followed the rise. As of July 27, the average market price was 6062 yuan / ton, up 4.81% from July 19 and 12.59% year-on-year.
Stimulated by the low price, the terminal textile enterprises began to have a strong atmosphere of bottom reading, and the raw material preparation was concentrated until the end of the month, with a slight improvement in the order atmosphere. However, at present, the industry is in the off-season, and the high-temperature power consumption in the south is at a peak. Some downstream enterprises in Zhejiang Province have received the notice of power restriction. At present, the startup rate of most weaving factories is at a low level, and the comprehensive startup rate of looms in Jiangsu and Zhejiang regions remains around 50%.
Business analysts believe that the current price of polyester filament is still dominated by costs, and the wait-and-see sentiment in the oil market intensifies as the Federal Reserve raises interest rates. The spot of PTA supply side is still tight, and some PTA devices still have maintenance plans. Affected by the off-season, the demand side is expected to further reduce production, and after a round of stock replenishment in the early stage, the wait-and-see mood increases, and the confidence in the future market is insufficient, mainly just need to purchase. As a result, polyester filament inventory is still at a historically high level. According to statistics, the average total inventory of polyester filament is 35.5 days, an increase of 15.4 days compared with the same period last year. With no substantial improvement in demand, the polyester price rebound is expected to be unsustainable and will continue to be under pressure in August.
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