SunSirs: Insufficient Cost Support, Polyester Filament Manufacturers Concentrated on Offering Discounts for Shipments
August 30 2024 09:22:52 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the price of domestic polyester filament decreased at the end of the month. As of August 29th, the mainstream polyester filament factories in Jiangsu and Zhejiang offered POY (150D/48F) at a price of 7,300-,7600 RMB/ton, polyester DTY (150D/48F low elasticity) at a price of 8,900-9,100 RMB/ton, and polyester FDY (150D/96F) at a price of 7,900-8,100 RMB/ton.
Analysis review
Downstream and end customers had cautious expectations for the future, with a clear wait-and-see attitude. Polyester filament manufacturers were concentrating on offering discounts for shipments, while downstream users were buying at low prices. On August 29th, downstream enterprises had basically completed inventory replenishment.
In terms of raw materials, as entered August, demand and US economic data fell short of expectations, leading to global asset recession trading. The weak fundamentals of polyester raw materials were amplified by macroeconomic sentiment, with PX hitting a new low since its listing and PTA falling below the long-term support level of 5,500 RMB/ton.
Market outlook
Overall, the recent market trend of polyester filament has shown a downward adjustment in prices, and the future development of the market will be influenced by various factors, including raw material prices, market supply and demand, export situation, and policy environment.
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