According to SunSirs Commodity Market Analysis System, domestic market prices for polyester staple fiber have exhibited a slight downward trend since the beginning of May. As of May 17, the average domestic market price for polyester staple fiber (1.4D*38mm) stood at 8,136 RMB/ton, representing a decline of 2.48% compared to the start of the month.

Cost-side support has weakened, while crude oil and PX prices continue to fluctuate at elevated levels. Crude oil prices have undergone a volatile correction; as of May 14, the settlement price for the June contract of U.S. WTI crude oil futures stood at $101.17 per barrel, while the settlement price for the July contract of Brent crude oil futures was $105.72 per barrel. In the Asian market, simultaneous maintenance shutdowns for PX facilities have resulted in tight supply and a solid cost floor; however, the momentum for transmitting these costs downstream remains insufficient.

Since the beginning of May, the domestic PTA market has generally exhibited a weak trend. As of May 17, the average spot price for PTA in the East China region stood at 6,573 RMB/ton—a decline of 4.29% compared to the start of the month. Early in the month, supported by PX feedstock costs and the bullish impact of large-scale PTA plant maintenance shutdowns, prices saw a modest uptick, briefly rising to the vicinity of 6,700 RMB/ton. However, as demand from downstream polyester and end-use textile sectors remained persistently sluggish—compounded by easing geopolitical tensions that led to a decline in crude oil risk premiums—prices subsequently retreated amidst volatile trading.

Demand remains persistently weak; however, supported by elevated production costs, market sentiment regarding downstream pure polyester yarn quotations is generally subdued, with actual transactions predominantly driven by negotiated pricing. Some yarn mills have implemented production cuts and are limiting procurement to immediate necessities; market participants generally hold bearish expectations for the near future and remain reluctant to accept yarn produced from high-priced raw materials, resulting in a continued prevalence of a wait-and-see atmosphere. At the terminal end, although orders for the autumn/winter season and export markets began to pick up gradually in late May, a significant improvement in the short term remains unlikely.

Analysts at SunSirs believe that, in the short term, while the scale of production cuts for staple fiber itself is expanding, demand-side expectations remain modest; given that the current period is a traditional off-season, demand is unlikely to recover rapidly, which will exert downward pressure on prices.

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