According to the commodity market analysis system of SunSirs, the domestic polyester staple fiber market began to weaken in mid-May. As of May 23, the average market price of domestic polyester staple fiber (1.4D*38mm) was 6,597 RMB/ton, down 1.94% from May 16.

Raw material support weakened, and international crude oil prices fell.

On May 22, the settlement price of the main contract of US WTI crude oil futures was US$61.20/barrel, and the settlement price of the main contract of Brent crude oil futures was US$64.44/barrel.

The PX market's previous faulty devices have been restored one after another, and the demand side is expected to weaken, and the PX market has fallen from a high level and performed weakly.

The PTA market has restarted many maintenance devices in the early stage, and domestic supply has increased slightly. Downstream polyester expectations are pessimistic, and the cost side is insufficiently supported. In the absence of favorable support, PTA prices fluctuate and decline. As of May 22, the average price of PTA in East China was 4,913 RMB/ton, down 1.88% from May 16.

Downstream textile enterprises have insufficient orders, and the risk of unstable cost support has also increased. Spinning mills are cautious in chasing high prices, maintaining on-demand purchases, and a wait-and-see mentality is dominant.

Analysts at SunSirs believe that there is an expectation of a decline in costs, and the physical inventory of major polyester staple fiber manufacturers is under pressure, their own production will also increase, and demand is stalemate. It is expected that the price of polyester staple fibers will remain weak.

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