On November 27, the domestic polyester filament market was stable and weak. Among them, the average market price of polyester POY (150D/48F) was 7,044 yuan/ton, which was higher than the previous price. It fell 0.14% on one day and fell 19.98% year-on-year.
In terms of raw material PTA, Shanghai Yadong Petrochemical and Yisheng Hainan PTA units have restarted and the operating rate has been raised to around 95%. In addition, Dushan Energy’s 1.1 million ton line is scheduled to be put into operation at the end of November. In the raw material PTA market, as suppliers continue to repurchase spot goods to support prices, and due to the periodic recovery of downstream polyester production and sales, the number of short stops on the PTA supply side has increased.
From a downstream perspective, it is difficult to concentrate on liberalizing procurement volume, and procurement for rigid needs is still the main focus. Terminal factories are currently rushing to process overseas Christmas orders, and the order shipments are basically coming to an end.
Manufacturers try their best to keep raw material inventories as low as possible, and are cautious in purchasing goods. They still insist on buying as they are used. At present, the overall orders of most weaving companies are dominated by “small batches and multiple batches”. Most of them maintain stable startup, and the current comprehensive startup rate of Jiangsu and Zhejiang looms remains around 74%.
As orders will gradually decrease starting from December, it is expected that the load of looms in Jiangsu and Zhejiang is expected to decrease. There are still some orders placed for next spring and summer, but the order volume is not large and the product delivery speed is average.
The number of polyester overhauls has increased this week, especially from late December to January. There are large-scale maintenance plans for polyester devices. Therefore, the demand side of PTA will be affected and the market will continue to trend. Weakness is more likely. As can be seen from the figure above, the price trends of polyester filament and PTA in November are basically the same, so the weakening of PTA will have a certain impact on the polyester filament market.
Taken together, there is a risk of weakening both upstream and downstream, and there is insufficient support. In the short term, the polyester filament market will fluctuate and move downward. </p
