According to the price monitoring of the business agency, the domestic polyester filament market fell slightly this week (August 1-5), of which polyester POY fell by 1.17%, polyester DTY and polyester FDY increased by 0.73% and 0.65% respectively. At present, the price of polyester POY (150D / 48F) is 7700-8200 yuan / ton, the price of polyester DTY (150D / 48F low elasticity) is 9100-9450 yuan / ton, and the price of polyester FDY (150D / 96F) is 8400-8700 yuan / ton in the mainstream polyester filament factories in Jiangsu and Zhejiang.

Rise and fall of average price of polyester filament Market unit: yuan / ton

Commodities, prices at the beginning of the week, prices at the weekend, weekly rise and fall, year-on-year rise and fall

Polyester FDY., 8570.00., 8514.17., – 0.65%, + 6.07%

Polyester DTY., 9348.64%, 9280.45, -0.73%, – 2.00%

Polyester POY., 8061.11., 7966.67., – 1.17%, + 1.34%

The downside risk of international oil prices has increased, and the cost side has shifted downward. The Bank of England announced an interest rate increase of 50 basis points to curb the economic recession that may be triggered by inflation, which continued to be negative for oil prices. This was compounded by the sharp increase in US commercial crude oil inventories last week and the increase in production targets of Oil Producing Countries OPEC. As of August 4, it fell to the lowest level since February. The settlement price of the main contract of WTI crude oil futures in the United States was US $88.54/barrel, and the settlement price of the main contract of Brent crude oil futures was US $94.12/barrel.

PTA followed the decline in crude oil. As of August 5, the average market price was 5825 yuan / ton, down 5.41% from the beginning of the week and up 10.86% year-on-year. However, in August, the maintenance of PTA units increased. In the parking of 2 million tons of Yisheng Ningbo, 1.5 million tons of Jiaxing petrochemical and 2.2 million tons of Hengli Dalian, the load of 700000 tons of Yadong petrochemical and 2.5 million tons of Baihong dropped to 80%, and the load of 2.25 million tons of Yisheng Dalian dropped to 60%. The load on the supply side decreased significantly, and the industrial operation dropped to around 66%.

July August is the traditional off-season of the textile and garment industry. Domestic terminal orders are still weak, and the market mentality is wait-and-see. Only a small amount of purchase is needed. In the off-season of the industry, the start-up of Jiangsu and Zhejiang weaving stopped around 50%. It is understood that the export foreign trade orders of terminal weaving and texturing enterprises are acceptable, and the number of orders received is generally 20-30 days.

Business analysts believe that the favorable news of PTA supply reduction has been digested due to the decline of international crude oil price, and the supply will be restored with the gradual restart of the overhaul unit, with the cost side dominated by bad news. In the downstream market, August is the traditional off-season of consumption, and the probability of continuous recovery of textile enterprises is relatively low. In the absence of effective improvement in demand, polyester prices will continue to follow the cost side fluctuations.