According to this week’s polyester filament market has gone out of the trend of “first restraining and then rising”, showing a steady adjustment trend as a whole, the market supply and demand situation has improved, and it is expected that the price will maintain a strong trend of volatility in the short term. As of October 17th, the mainstream polyester filament factories in Jiangsu and Zhejiang have quoted POY (150D/48F) at 6400-6700 yuan/ton, polyester DTY (150D/48F low elasticity) at 7750-8000 yuan/ton, and polyester FDY (150D/96F) at 6500-6800 yuan/ton.
At the beginning of the week, the polyester filament market as a whole showed a weak downward trend, with a slight shift in price focus. On October 20th, the prices of polyester POY, FDY, and DTY all experienced varying degrees of decline. The price of polyester POY was 6750 yuan, with a daily increase and decrease of -2.61%. The price of polyester FDY was 6826.67 yuan, with a daily increase and decrease of -2.52%. The price of polyester DTY was 7931.25 yuan, with a daily increase and decrease of -1.86%. This is mainly due to the weak operation of the upstream polyester raw material market at that time, insufficient cost support, and cautious downstream procurement, resulting in an average market transaction atmosphere.
Starting from Wednesday, the market situation has changed, and the price of polyester filament has stabilized and partially rebounded. On October 23rd, due to the rise in international oil prices and the improvement of the fabric market, some polyester factories reduced their discounts on polyester filament or raised their prices by 50-100 yuan/ton. On October 24th, Rongsheng Petrochemical’s semi transparent DTY was partially increased by 50-100, POY and FDY were both increased by 50, some FDY was increased by 100, and the slice buyout price was increased by 50.
The turning point is mainly reflected in two aspects:
Cost support strengthens: International oil prices significantly rebounded on October 22-23. The cost of aggregation has increased accordingly, compressing the profit margin of polyester filament production enterprises, resulting in a significant increase in their willingness to raise prices, and a decrease in some low-end negotiated prices.
Boosting demand: According to news on October 23rd, the arrival of cold air has led to a rebound in demand for winter fabrics, with demand for essential goods driving increased production and sales. For example, on October 21st, the average production and sales rate of polyester filament sample enterprises soared to 367.9%. The rebound in production and sales means that the pressure on factory inventory has been eased, further supporting prices.
Based on the above factors, on October 24th, polyester filament factories in Jiangsu Province raised their prices or reduced their discounts, ranging from 50-100 yuan/ton.
At present, the inventory of polyester filament in polyester factories is still high, and the inventory of greige fabric is significantly higher than the same period last year. Weaving factories are basically based on production quantity and cautious in procurement. But with the improvement of the market situation, polyester manufacturers have adjusted their quotations to seize market share, and the market mentality has improved. Some companies have increased their willingness to raise prices. Overall, it is expected that the price of polyester filament will maintain a strong and volatile trend in the short term.
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