According to the Commodity Market Analysis System of Shengyi Society, the domestic price of polyester staple fiber first fell and then rose this week (September 22-26). As of September 26, the average market price of polyester staple fiber (1.4D * 38mm) was 6441 yuan/ton, a decrease of 0.01% from the beginning of the week.
The continuation of the Russia-Ukraine conflict in the international crude oil market triggered potential supply risks, which superimposed the decline of the US commercial crude oil inventory and the rise of international oil prices. As of September 25th, the settlement price of the November WTI crude oil futures contract in the United States was $64.98 per barrel, and the settlement price of the December Brent crude oil futures contract was $68.58 per barrel.
As of September 26th, the average market price of PTA in East China was 4639 yuan/ton, an increase of 0.28% from the beginning of the week. At the beginning of the week, due to the restart of some facilities and the weakening of crude oil prices, the center of gravity of PTA prices shifted downwards. During the week, with the rebound of oil prices, the recovery of commodity sentiment, and the increase in downstream pre holiday stocking demand, the trend of PTA has rebounded.
The purchasing enthusiasm of downstream yarn factories has rebounded, and the upcoming double holiday is approaching. The factories have a certain demand for stocking up, and the market transaction atmosphere has improved. New orders have slightly improved, and finished product inventory has declined. The traditional market has seen some improvement in peak season orders, with some support from short-term demand. However, the speed of destocking is relatively slow, and the sustainability needs to be observed. The expectation of new orders and load recovery in the future is limited.
Business analysts believe that the current peak season for traditional fuel consumption in the United States is coming to an end, and supply side risks have not been eliminated, with international oil prices mainly fluctuating and adjusting in the short term. Moreover, the expected increase in supply and inventory of PX and PTA is insufficient in terms of cost support. The demand side is improving in stages, but we still need to pay attention to the sustainability of the improvement in terminal order acceptance. Overall, it is expected that the price of polyester staple fibers will maintain a volatile pattern.
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