SunSirs:Polyester Filament Demand to Weaken in the Near Term

Recent polyester filament production and sales have surged significantly. Texturing mills have conducted phased restocking, reducing market inventories and boosting industry confidence. Positive downstream trends continue to propagate upstream. Concurrently, maintenance schedules for multiple domestic and international facilities in Q1 and Q2, coupled with rising oil prices, have driven sustained increases in paraxylene (PX) prices. PTA prices have also continued to climb. Ethylene glycol prices saw a slight decline. For polyester filament yarn, major mills implemented additional production cuts during the week of December 26. Filament producers largely maintained previous promotional sales tactics, while downstream buyers showed strong purchasing sentiment. Bulk stockpiling increased, leading to noticeable inventory drawdowns and modest price gains. Short staple fiber and PET bottle flake prices also rose significantly, supported by cost pressures. In nylon, filament yarn prices remained stable during the week of December 26, with spreads narrowing slightly.

Though cost pressures are easing and downstream demand will continue weakening, polyester filament supply will gradually decrease. The market is currently in a wait-and-see consolidation phase. Influenced by the PTA market's rally followed by pullback, market sentiment today is heavily cautious. Although downstream demand remains in a seasonal slump and is expected to weaken further, leading manufacturers implemented production cuts last week, and most plants will proceed with scheduled maintenance next month. Consequently, most polyester filament producers maintained stable shipment intentions across most specifications, with only isolated price increases for certain DTY grades. The market price for 150D/48F polyester filament POY remained steady compared to the previous working day at 6,600 RMB/ton.

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