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Polyester DTY News
SunSirs: Upstream and Downstream Negative Overlays, Polyester Market Remains Weak
March 24 2020 09:45:07SunSirs(Linda)

According to business agency price monitoring, the domestic polyester filament market has fallen sharply this week. Among them, polyester POY (150D / 48F) in mainstream factories in Jiangsu and Zhejiang reported 5900-6200 yuan / ton, and polyester DTY (150D / 48F low-elastic) reported 7750-8200. Yuan / ton, polyester FDY (150D / 96F) reported 6400-6850 yuan / ton. The start-up load was increased to around 70%. With the increase in supply pressure, companies have started to promote sales models. The pressure on inventory has eased slightly. Some companies have greater incentives and significant destocking effects.

The average price change of polyester market in the past 7 days, unit: yuan / ton

In the raw material market, the domestic PTA spot market price has plummeted. As of March 20, the average market price was 3510 yuan / ton, down 6.54% from the beginning of the week, and down 46.23% year-on-year, a record low in nearly 10 years. PTA plant equipment inspection and maintenance have been intensified. Pengwei Petrochemical's annual output of 900,000 tons of PTA plant will be shut down at night on March 9th. It is expected to be overhauled for one month. Hengli Petrochemical's 2.2 million-ton PTA unit began maintenance on March 12th, with planned maintenance of about 15 days. Dushan Energy's 2.2 million-ton PTA unit entered parking maintenance on March 15th, and is expected to be repaired for 15 days. Luoyang Petrochemical, Tianjin Petrochemical, Shanghai Petrochemical and Hanbang Petrochemical have not yet run at full capacity. The downstream polyester gradually recovered, but the PTA destocking speed was slow, and the contradiction between supply and demand in the market was still prominent.

The downstream demand has not improved significantly, and it is mainly based on the consumption of previous years' inventory. The recent international crude oil has fluctuated greatly. The market mentality is cautious to wait and see. The downstream grey fabrics have a more dignified atmosphere. Yes, but the general trading atmosphere is average. Many companies stated that large orders were missing after the start of construction, and the number of orders was significantly reduced, and their willingness to purchase remained weak.

According to analysts at SunSirs, it is difficult to improve the current demand, polyester companies are facing pressure on stocks, the market outlook is pessimistic, and the cost of oil prices has plummeted, dragging down commodity markets, and raw material prices have fallen sharply. Therefore, on the whole, the upstream and downstream bearish superposition, the price of polyester filament will remain weak in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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