According to the Commodity Market Analysis System of Shengyi Society, the domestic polyester staple fiber market has maintained a fluctuating downward trend since August, with a 3.23% decline as of August 25th. Today (August 26th), there was a slight rebound, with the average price of mainstream factories in Jiangsu and Zhejiang at 7535 yuan/ton, up 0.44% from the previous trading day. The rise in raw material prices and increased cost support have led to a surge in prices for short fiber producers and traders, but the trading atmosphere remains weak.
The expectation of the Federal Reserve cutting interest rates has increased, which is positive for the commodity market atmosphere. International oil prices have risen, and on August 23rd, the settlement price of the main contract for WTI crude oil futures in the United States was $74.83 per barrel, an increase of $1.82 or 2.5%. The settlement price of the main Brent crude oil futures contract was $79.02 per barrel, an increase of $1.80 or 2.3%. PTA continued to rise, with an average market price of 5388 yuan/ton in the East China region, up 0.98% from the previous trading day. However, the later announced PTA plant maintenance plan is limited, and there is a strong expectation of accumulated inventory in the market.
The peak season for traditional terminal demand is approaching. If demand rebounds as expected, it can boost confidence in the textile market and drive procurement enthusiasm. At present, most of them maintain a small amount of procurement for essential needs, with only a few downstream feedback showing signs of improvement in order volume. The operating rate of weaving machines in Jiangsu and Zhejiang is currently around 64%. In the future, attention can be paid to the operating situation of “Golden Nine” terminal textile enterprises, or there may be a phenomenon of periodic bargain hunting procurement.
Business analysts believe that the peak season has not yet started, and the demand side is not yet driven by favorable factors. The market is waiting for a turning point between the peak and off peak seasons. But with the strengthening and consolidation of crude oil, cost support is still present, and it is expected that the price of polyester staple fiber will rise narrowly in the short term.
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