SunSirs: July 24: Polyester Filament Price Focus Rises

According to the commodity market analysis system of SunSirs, the center of gravity of polyester filament prices rose by 50-100 on July 24. The production and sales rate of sample enterprises was 107.1%, an increase of 54.8% from the 23rd. The orders waiting for inquiry in the early stage were concentrated, and the sales volume increased significantly compared with the previous few days. The mainstream polyester filament factory POY (150D/48F) in Jiangsu and Zhejiang quoted 6600-6800 RMB/ton, polyester DTY (150D/48F low elastic) quoted 7700-8050 RMB/ton, and polyester FDY (150D/96F) quoted 6800-7100 RMB/ton.

With the recovery of commodity sentiment, the cost side support is strong. Combined with the tight circulation of local supply, the market price of polyester filament has risen. However, considering that downstream purchases have always been just in demand and crude oil fell overnight, as of the early morning of July 24, the electronic price of US WTI August crude oil futures fell by $0.53, or 0.81%, to $64.78 per barrel. London Brent crude oil futures for September delivery fell by $0.69, or 1.00%, to $68.03 per barrel. The market sentiment of chasing up prices has become cautious with limited cost support, and the intraday increase is limited.

Today, polyester filament rebounded under the drive of production cuts and periodic inventory replenishment, but weak demand and high inventory restricted the general increase. SunSirs believes that the sustainability of the short-term rebound depends on the recovery of the downstream operating rate and the intensity of production cuts. In the short term, there is little room for price declines, and it is expected to remain stable or strong.

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