According to the monitoring of the Business News Agency, the domestic polyester filament market weakened in February, with POY down 2.82%, polyester FDY down 2.38% and polyester DTY down 1.33%. At present, the price of polyester POY (150D/48F) is 7300-7650 yuan/ton, the price of polyester DTY (150D/48F low elasticity) is 8600-9100 yuan/ton, and the price of polyester FDY (150D/96F) is 8100-8450 yuan/ton.

Average price rise and fall of polyester filament market in February Unit: yuan/ton

Commodity/ February 1/ February 28/ Up and down/ Year-on-year rise and fall

Polyester DTY/ 8998./ 8878./ -1.33%./ -7.09%

Polyester POY/ 7734./ 7516./ -2.82%./ -6.70%

Polyester FDY/ 8406./ 8206 ./-2.38%./ -1.79%

In February, the international crude oil price fluctuated and adjusted. As of the 27th, the settlement price of the main contract of WTI crude oil futures in the United States was US $75.68/barrel, and the settlement price of the main contract of Brent crude oil futures was US $82.04/barrel. At present, Russia claims that the production reduction decision is only for March, and the later production decision will depend on the situation. It is expected that Russia’s crude oil production will recover. In terms of demand, it is still the game between domestic demand repair and overseas economic recession, and the weakness of overseas economy suppresses the demand increment.

The overall performance of PTA in February was weak. As of February 28, the average market price in East China was 5597 yuan/ton, down 2.89% from the beginning of the month and 1.05% year-on-year. At the beginning of the month, due to insufficient follow-up of terminal orders, the new PTA devices were put into production, and the price fell slightly. After that, PTA increased its maintenance due to low processing difference, and the downstream polyester was seasonally negative, the supply and demand pattern improved, and the price stopped falling and rebounded. In terms of PTA supply, plant maintenance devices have been restarted more frequently, and the supply range has increased, and the industry is currently operating at more than 72%.

It is understood that most of the current terminal factories still focus on digesting the stock orders before the Spring Festival, and the domestic sales orders have only slightly increased. Foreign trade is subject to the impact of high inventory, and the issuance of new orders is still not smooth. The orders of textile enterprises have not shown the explosive growth expected by the market, and the issuance of new orders is limited, which restricts the enthusiasm of some manufacturers in production. The overall situation is still weak compared with the same period last year. As of February 27, the comprehensive operating rate of weaving in Jiangsu and Zhejiang was more than 67%.

According to the analysts of Business Agency, the production reduction and restart of PTA plant at the raw material end will be parallel, and the supply pressure will be difficult to reduce due to the expected production of new devices. At present, the recovery of terminal demand is slow, especially the scarcity of domestic and foreign trade orders will restrict the enthusiasm of the market and suppress the polyester market. However, with the arrival of the traditional consumption season, the demand side will improve, and the polyester filament market is expected to warm up.