SunSirs: Cost Support Increased, and the Price of Polyester Staple Fiber Was Consolidated in a Narrow Range

Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic polyester staple fiber market has been consolidating in a narrow range recently. As of March 25th, the average market price of domestic polyester staple fiber (1.4D * 38mm) was 6,773 RMB/ton, a decrease of 0.28% from March 6th.

Analysis review

Crude oil prices fluctuated upwards. On March 24th, the settlement price of the main contract for WTI crude oil futures in the United States was 69.11 US dollars per barrel, and the settlement price of the main contract for Brent crude oil futures was 72.37 US dollars per barrel. The PX market has recently begun to pay attention to the benefits brought by routine maintenance in the second quarter.

The rise in crude oil and PX prices has provided certain price support for PTA, and the spot market was showing a rebound trend. On March 25th, the average market price in East China was 4,889 RMB/ton, an increase of 2.98% compared to March 12th. As of March 24th, PTA plant maintenance and restart were carried out in parallel, maintaining a tight supply and demand pattern and maintaining a destocking state.

The downstream yarn factories had stable shipments, with varying shipment situations for different categories, and market prices were adjusted based on the shipment situation. At the same time, the raw material inventory of the terminal factory was basically maintained, and the delivery was slow, so there were few new orders added, and the actual orders can be negotiated. The overall market mentality was cautious, with many small orders requiring replenishment.

Market outlook

SunSirs’ analysts believe that downstream demand was slowly increasing, and the rise in raw material prices was supporting the cost of polyester staple fibers. It is expected that the price of polyester staple fibers may rise slightly.

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