SunSirs: Last Week, the Price of Polyester Filament Saw a Localized Upward Adjustment (November 10-14)

Price trend:

Last week, the price of polyester filament saw a localized upward adjustment. Strong cost support was offset by cautious demand, primarily driven by immediate needs, resulting in a generally wait-and-see attitude. According to data from SunSirs, as of November 14th, mainstream polyester filament factories in Jiangsu and Zhejiang quoted POY (150D/48F) at 6,500-6,700 RMB/ton, polyester DTY (150D/48F low elasticity) at 7,750-8,000 RMB/ton, and polyester FDY (150D/96F) at 6,750-6,900 RMB/ton.

Market Analysis

Cost side pushed: Costs fluctuated last week but provided strong overall support. Although Brent crude oil rose slightly by 0.48% mid-week, naphtha prices fell by 2.59% week-on-week, and PTA prices in the Jiangsu and Zhejiang regions fell from 4,592 RMB/ton on the 12th to 4,565 RMB/ton on the 13th, international oil prices continued to rise on the 14th. Furthermore, several PTA companies implemented plant maintenance or shutdowns for technical upgrades, resulting in relatively low supply pressure and a tight supply-demand balance, thus solidifying the cost floor for polyester filament prices.

Demand Dragging Down: Despite rising costs, downstream demand had not kept pace. Reduced end-user orders had led weaving and texturing mills to be very cautious in their raw material procurement, generally adopting a "just-in-time" strategy. This cautious approach had made it difficult for the market to experience a large-scale increase in both volume and price. The downstream weaving industry was operating at 76.5% capacity, pushing forward with the delivery of winter orders and taking on spring/summer orders for next year, with smooth sales of differentiated products. However, market demand did not continue to surge last week. On the 11th, the average production-to-sales ratio of sampled enterprises was 37.1%, and although it increased to 41.3% on the 13th, end-users remained cautious and focused on replenishing only essential needs, resulting in overall sluggish trading and limiting the potential for significant price increases.

Market Forecast:

According to SunSirs' forecast, if costs continue to strengthen, there is still room for a slight increase in polyester filament prices. However, as of November 14, the production and sales ratio was still low, and end-users were mostly replenishing their stocks for immediate needs, which will limit the extent of price increases. It is expected that the polyester filament market will continue to maintain a fluctuating and consolidating pattern in the short term.

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.