According to the Commodity Market Analysis System of Shengyi Society, the recent decline in the domestic polyester staple fiber market has slowed down. As of March 20th, the average market price of domestic polyester staple fiber (1.4D * 38mm) was 6776 yuan/ton, a decrease of 0.24% from March 6th. The average ex factory price of mainstream factories in Jiangsu and Zhejiang regions is 6968 yuan/ton, a decrease of 0.59%.
Crude oil fluctuated strongly and adjusted. On March 19th, the settlement price of the main contract of WTI crude oil futures in the United States was $66.91 per barrel, and the settlement price of the main contract of Brent crude oil futures was $70.78 per barrel. In addition, in the PX market, some South Korean PX facilities have delayed restart or extended maintenance time. At the same time, since mid March, some facilities in domestic PX factories have maintenance plans, and the PX operating rate has gradually decreased. The planned maintenance of PX units in April and May is still relatively concentrated, and the scale of maintenance is slightly lower than the same period last year. It is expected that the destocking of PX in the second quarter will exceed 500000 tons, and the spot liquidity of PX may be tight in the future.
Under the boost of costs, the recent decline in the domestic PTA market has improved slightly, showing a slight rebound. According to the Commodity Market Analysis System of Shengyi Society, as of March 20th, the average price of PTA market in East China was 4848 yuan/ton, an increase of 2.12% compared to March 13th. In addition, in March, PTA plant maintenance increased due to low processing costs and lower than expected terminal demand. The scale of maintenance in March has expanded again, and the current operating rate is around 76%. The expected PTA destocking in March is around 300000 tons, and the overall destocking in the second quarter is expected to be around 500000 tons.
Downstream maintenance of essential procurement, with most of the yarn factory’s raw material stocking up until around early April. The performance of “Gold Three Silver Four” did not meet expectations. The current operating rate of weaving machines in Jiangsu and Zhejiang is only about 67%. This year’s spring and summer orders are insufficient compared to the same period in previous years. At the same time, the release of US tariffs has further dragged down the textile market with orders placed in the export market, resulting in average demand support.
Business analysts believe that the cost side is relatively warm, which provides sufficient support for polyester short fibers. There is little change in the supply and demand side of short fibers, and the impact on prices is limited. Therefore, in the short term, the price of polyester staple fibers will narrow and consolidate.
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