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SunSirs: Demand Was Expected to Improve, Boosting the Price of Polyester Filament

January 29 2023 10:44:09     SunSirs (John)

Price trend

After the Spring Festival, the price of domestic polyester filament rose slightly. According to the monitoring of SunSirs, the polyester POY rose by 0.29%, the polyester FDY rose by 0.61% and the polyester DTY rose by 0.68% on January 28. As of January 28, the quotation for polyester POY (150D/48F) of mainstream polyester filament factories in Jiangsu and Zhejiang was 7,400-7,950 RMB/ton, the quotation for polyester DTY (150D/48F low elasticity) was 8,700-9,460 RMB/ton, and the quotation for polyester FDY (150D/96F) was 8,200-8,650 RMB/ton.

Analysis review

During the Spring Festival, crude oil was mainly volatile. As of the 27th, the settlement price of the main contract of WTI crude oil futures in the United States was 79.68 US dollars/barrel, and the settlement price of the main contract of Brent crude oil futures was 86.40 US dollars/barrel. On the one hand, the US crude oil supply had declined, supporting the international oil price. On the other hand, the economic recovery in the Asian region had supported the rise of international oil prices. However, the inflation level of western developed economies is high, and the tightening monetary policy may be difficult to withdraw in the short term, which will harm the global economy and undermine the international crude oil price.

In terms of PTA, as of the 28th, the futures market was closed, the spot market was in a flat wait-and-see mood, and the market sentiment remained to be restored. The atmosphere in the downstream terminal market gradually warmed after the Spring Festival.

Market outlook

Analysts from SunSirs believe that the cost-side support is acceptable, and attention should be paid to the commissioning of new PTA devices and the resumption of downstream work after the holiday. There is an improvement expectation on the demand side, which may boost the market price of polyester filament.

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

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