According to the Commodity Market Analysis System of Business Society, the domestic polyester staple fiber market has declined this week (April 15-19). As of April 19, the domestic polyester staple fiber market price was 7672 yuan/ton, a decrease of 0.26% compared to the beginning of the week.
At present, the environment in which crude oil operates is relatively complex, and the performance of oil prices is also relatively stagnant and anxious. As of April 18th, the settlement price of the main contract for WTI crude oil futures in the United States was reported at $82.10 per barrel, and the settlement price of the main contract for Brent crude oil futures was reported at $87.11 per barrel. Macro and demand are suppressing oil prices in the short term, and the space for further upward movement of oil prices is being suppressed. In addition, given that the current geopolitical tensions have not escalated, crude oil has the potential to mitigate risk premiums and reshape valuation expectations. But the risk has not been lifted, coupled with the start of the North American driving season, gasoline demand is expected to rise, which will provide support for oil prices. Overall, the supply and demand game in the oil market will intensify in the short term, and there is a greater possibility of oil prices maintaining high volatility.
There are still some maintenance plans for PX devices in Asia, but Zhejiang Petrochemical and Hengli Petrochemical, with a total of 4.5 million tons of devices, will resume operation. Therefore, the overall supply of PX is gradually recovering, and the demand side is performing well due to the expected restart and load increase of PTA factories. It is necessary to be cautious of the announcement of subsequent maintenance arrangements for some PTA factories. The high inventory situation of domestic PX continues, and prices are expected to fall and consolidate.
This week, the domestic PTA spot market showed a trend of first rising and then falling. As of April 19th, the average market price in East China was 5948 yuan/ton, a decrease of 0.18% from the beginning of the week. Looking ahead to the future, our own supply will also increase. Jiatong Energy may restart a 2.5 million ton PTA unit on April 23, while Yisheng Dalian’s 2.25 million ton PTA unit is currently operating at around 80%, with plans to increase its load starting next week. In addition, there are currently no other planned large-scale PTA device maintenance or restarts, and attention still needs to be paid to unplanned maintenance.
Downstream yarn prices have been weakly adjusted. Currently, the reference price for the 32S pure polyester yarn market in Shandong is 12325 yuan/ton, a decrease of 75 yuan/ton or 0.60% compared to last week’s price of 12400 yuan/ton. Recently, there has been a decrease in orders and overall shipments have slightly weakened. Terminal purchases are based on demand, and some specifications of the yarn factory have been moderately discounted, with actual order negotiations being the main focus. Considering the gradual shift towards the off-season, as well as the May Day holiday, downstream production reduction and holiday expectations, as well as poor new orders, demand expectations will be weak.
Analysts from Business Society believe that the cost and demand side of the market are shifting downwards, and it is expected that the price of polyester staple fiber will still be weakly adjusted.
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