February 7, 2022
On January 27, the polyester filament market was generally stable. Most of the factories in Jiangsu and Zhejiang maintained stable quotations, and some factories had a small increase in individual specifications. Mainstream polyester filament factories offer polyester POY (150D/48F) at 7800-8150 yuan/ton, polyester DTY (150D/48F low elastic) at 9300-9500 yuan/ton, polyester FDY (150D/96F) at 8000- 8350 yuan / ton.
Crude oil once again refreshed the high point since October 2014. On January 26, the settlement price of the main U.S. WTI crude oil futures contract was reported at $87.35 per barrel, an increase of $1.75 or 2.04%, and the settlement price of the main Brent crude oil futures contract was reported at $88.74 / barrel, up $1.66 or 1.90%. Brent crude for March rose above $90 for the first time since 2014. Mainly due to rising expectations of tight supply to boost oil prices, tensions between Russia and Ukraine escalated, and the Organization of the Petroleum Exporting Countries (OPEC) increased production less than expected.
The PTA market followed the rise. On January 27, the average spot market price in East China was 5,424 yuan/ton, up 1.92% from the previous trading day and 42.57% year-on-year. The main force of PTA futures 2205 closed at 5496, up 164, or 3.08%. In terms of supply, two sets of PTA units totaling 5.3 million tons in East China announced an overhaul plan at the end of February. In addition, the second phase of Yisheng New Materials’ 3.3 million-ton new capacity unit is scheduled to start commissioning on January 28. The overall supply has increased and inventory has been accumulated. The current operating rate of the PTA industry is around 86%.
As the Spring Festival is approaching, the demand side is unlikely to boost the market. Terminal textile enterprises have been shutting down work and holidays one after another, and the purchase of raw materials has become significantly weaker. Actual transactions are sparse, many factories have been shut down, and the comprehensive operating rate of looms in Jiangsu and Zhejiang has dropped to around 13%. .
Crude oil continues to push up the cost side, but due to the impact of the Spring Festival holiday, the demand is not good, and the price of polyester filament is expected to remain stable in the short term.
|Contact Person :||Mr. Karl Shen|
|Tel :||+86 15052152041|