According to the Commodity Market Analysis System of Shengyi Society, the price of domestic polyester staple fiber fluctuated downward in August. As of August 18th, the average market price of domestic polyester staple fiber (1.4D * 38mm) was 6472 yuan/ton, a decrease of 1.58% from the beginning of the month.
The support for raw materials is weakening, and the peak season for traditional fuel consumption in the United States is coming to an end. Supply side risks have not been eliminated, and international oil prices are mainly experiencing weak fluctuations in the short term. As of August 15th, the settlement price of the September WTI crude oil futures contract in the United States was $62.80 per barrel, and the settlement price of the October Brent crude oil futures contract was $65.85 per barrel.
Since August, the domestic PTA spot market has maintained a downward trend. As of August 18th, the average price of PTA in the East China region was 4720 yuan/ton, a decrease of 2.09% from the beginning of the month. In terms of PTA equipment, Taihua and Hainan have shut down, while Weilian and Jiaxing have restarted. The shutdown of the equipment has been reduced for continued maintenance, and the overall supply has rebounded. The 3.2 million ton unit of Hailun Petrochemical was tested and discharged at the end of July, gradually increasing its load, and the overall operating rate of the industry remained around 76%.
Under the constraint of high inventory in downstream weaving, yarn factories find it difficult to achieve continuous replenishment and maintain a wait-and-see atmosphere, with a focus on essential procurement. In August, the market experienced a slow season for traditional demand, coupled with no signs of improvement in terminal market demand, resulting in low enthusiasm for short fiber procurement.
Business analysts believe that the sluggish performance of international oil prices, coupled with the commissioning of new PTA facilities, has led to a slight increase in supply side. The cost center of gravity continues to decline. There is no expectation of significant improvement in demand, and it is expected that the price of polyester staple fiber will continue to fluctuate downward.
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