SunSirs: Textile Orders are Hard to Pick up, Polyester Filament Prices Fluctuate and Weaken

Recently, the domestic polyester filament market has maintained a slight downward trend. Among them, mainstream factories in Jiangsu and Zhejiang have preferential sales. Currently, the price of polyester POY (150D/48F) is 7250-7550 yuan/ton, and the price of polyester DTY (150D/48F low elasticity) is 8800-9200 yuan/ton, polyester FDY (150D/96F) is quoted at 7400-7750 yuan/ton.

Since mid-August, in the crude oil market, due to the epidemic situation intensifying market panic expectations, crude oil prices have fallen to lows in the past three months, leading to weakening of cost support. As of August 20, the settlement price of the main contract in the US WTI crude oil futures market was reported at 62.32. USD/barrel. The domestic PTA spot market showed a slight weakening trend. As of August 23, the average market price was 4,965 yuan/ton, down 6.86% from August 15 and up 38.82% year-on-year. In terms of equipment, Hailun Petrochemical 2# 1.2 million tons of PTA equipment and Ningbo Taihua's 1.2 million tons of PTA equipment restarted. The operating rate of the PTA industry has increased to over 78%, and the supply is relatively sufficient.

In terms of demand, the orders of warp knitting factories in Jiangsu and Zhejiang have been sluggish recently, and sales have been weak. The operating rate of local warp knitting factories will generally reach 70% to 80%, and some are lower than 50%. The operating rate of weaving factories mostly maintains the previous level, the current market mentality is not good, terminal demand is weak, and the order placement in autumn is slow. The traditional textile market is weak, with insufficient transaction activity and overcapacity, leading to fierce market competition and slow shipments.

It is expected that textile orders will hardly pick up at the end of August, and the market condition in the early stage of the "Golden Nine" may still be insufficient. Superimposed on the current raw material market has weakened, it is expected that the polyester filament market will continue to fluctuate and weaken.

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