SunSirs: On the 24th, the Price of Polyester Filament Decreased Slightly

Price trend

On the 24th, the price of polyester filament was reduced compared to before, and the overall quotation for polyester filament was lowered by 100-300 RMB/ton. Since mid July, the inventory pressure of polyester factories has increased. Following the price reduction promotion of polyester filament in small factories last week, large factories have also joined the pace of price reduction this week. A large number of polyester factories, including several major manufacturers, collectively lowered the price of polyester filament.

Analysis review

Supply side: The production capacity growth of polyester filament has slowed down in recent times, but some polyester factories still faced inventory pressure. In order to alleviate inventory pressure, polyester factories have adopted a strategy of price reduction and promotion, including multiple polyester factories collectively lowering the price of polyester filament. On the demand side: The textile market was in a traditional off-season, with lower operating rates of downstream weaving enterprises and relatively reduced demand for raw materials. In addition, downstream enterprises' resistance to price increases has also affected their enthusiasm for purchasing raw materials.

According to data from the General Administration of Customs of the People's Republic of China, the export volume of polyester filament from China decreased by 7.34% year-on-year in the first half of 2024. The year-on-year decline in exports to major trading partners such as India and Türkiye was particularly significant. This was mainly due to the failure of domestic polyester factories to pass the BIS certification in India, the increase in shipping costs caused by the Red Sea incident, and the production of polyester and polyester facilities locally by some trading partners. However, some trading partners such as Vietnam, Pakistan, and Indonesia have also achieved positive growth in export volume.

Market outlook

The recent market trend of polyester filament has shown characteristics of price reduction, supply-demand imbalance, and year-on-year decline in exports. The future development of the market will be influenced by various factors, including market supply and demand, export situation, and policy environment.

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