According to the price monitoring of SunSirs, the domestic polyester filament market recovered slightly this week (April 18-22). As of April 22, the quotation of polyester POY (150D / 48F) was 8050-8300 RMB/ton, polyester DTY (150D / 48F low elasticity) was 9200-9600 RMB/ton, and polyester FDY (150D / 96F) was 8550-8800 RMB/ton.

Rise and fall of average market price of polyester POY unit: RMB/ ton：

In the context of the Russian Ukrainian war, as the market is generally worried about the shortage of supply in the future, and the EU considers gradually stopping purchasing crude oil from Russia, this will further aggravate the expectation of supply tightening and still support the high-level operation of crude oil. As of April 21, the price of international crude oil futures rose, and the settlement price of the main contract of WTI crude oil futures in the United States was US $103.79/barrel; The settlement price of the main contract of Brent crude oil futures was US $108.33/barrel.

This week (April 18-22), the domestic PTA market fluctuated and rose slightly. As of April 22, the average market price was 6268 RMB/ton, up 0.31% from the beginning of the week and 37.77% year-on-year. PTA maintains a high inspection and repair rate, the shipment strength of mainstream suppliers is still relatively limited, the spot circulation in the market is tight, and the industrial commencement remains at a low level below 70%. In the later stage, there are still device maintenance plans, including Ningbo Yisheng new materials, Yisheng Dalian, Yisheng Hainan and other devices.

From the perspective of textile terminals, the weak demand for domestic and foreign sales and the superimposed epidemic affected the logistics, resulting in the operating rate of Jiangsu and Zhejiang looms falling to a low level of 54%. Demand performance is poor, polyester price rise is also difficult to drive the enthusiasm of downstream replenishment, factory shipment pressure is large, and inventory continues to accumulate.

Business analysts believe that the current PTA processing fee in the raw material market has rebounded compared with the low level in the early stage, but it is still at a low level. It is still possible to cash in the later unit maintenance, so the overall PTA unit load will remain at a low level. At the same time, the support of oil price still exists. In the short term, the cost is strong, and the shock adjustment is still good for the formation of polyester price. With the easing of the epidemic situation in many places in Jiangsu and Zhejiang and the gradual recovery of logistics and transportation, it is expected that the terminal demand will increase to a certain extent. However, even if the start-up of the terminal textile industry gradually increases, there is a lack of order support, and the market downside risk is still large.

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