Price trend

According to the commodity market analysis system of SunSirs, the domestic price of polyester staple fiber fell first and then rose last week (November 10-14). As of November 14, the average market price of polyester staple fiber (1.4D*38mm) was 6,311 RMB/ton, a decrease of 0.31% compared with the beginning of the week.

Analysis review

In the international crude oil market, as of November 13th, the settlement price of the December contract for US WTI crude oil futures was $58.69 per barrel, and the settlement price of the January contract for Brent crude oil futures was $63.01 per barrel. Further monitoring of the extent of oversupply in the crude oil market was crucial, as this was the core factor driving oil price direction. As of November 14, global inventories were accumulating further. If there is continued unexpected inventory buildup, oil prices are expected to continue their downward trend amidst fluctuations.

Last week, the domestic PTA market experienced a decline followed by a rise. As of November 14th, the spot price of PTA in East China was 4,671 RMB/ton, up 0.55% from the beginning of the week. On the supply side, Sichuan Energy Investment Group underwent maintenance shutdowns, Fuhai Chuang adjusted its operating rate, and other plants remained largely unchanged, resulting in a slight decrease in overall domestic output, with the industry operating rate hovering around 76%. Next week, some plants in East China are scheduled for maintenance, while other plants will remain stable, leading to a slight decrease in output.

With costs remaining weak and follow-up orders sluggish, the market sentiment was bearish, and downstream yarn factories were mainly purchasing only to meet their immediate needs, lacking the motivation for sustained restocking. In the downstream weaving sector, while the cooling temperatures had somewhat eased the situation, overall orders had not yet shown any real recovery, and a wait-and-see attitude prevailed.

Market outlook

Analysts at SunSirs believe that crude oil prices faced a risk of declining, but short-term PTA supply will remain tight while demand remains stable, providing some cost support. However, declining end-user demand is dampening purchasing activity, and the polyester staple fiber market is expected to see mainly volatile price adjustments.

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.