Market Pessimism Concentrated Polyester Filament Prices In March The Largest Decline Of Nearly 30%

According to the price monitoring of the business community, the polyester filament market is pessimistic. The domestic polyester filament prices are dropping this month. At present, the mainstream factories in Jiangsu and Zhejiang are reporting polyester POY150D/48F at 4850-5000 yuan / ton, and polyester DTY150D/48F at 6550-7300 yuan / ton, and polyester FDY150D/96F at 5100-5450 yuan / ton. Polyester filament products continue to expand, including FDY, POY decline is particularly close to 30%, profits have also plunged into a loss dilemma.

　　 The average price of polyester filament Market in March is up and down, the unit: yuan / ton.

International crude oil prices once again bottom, the domestic PTA spot market prices continued to plummet, and new low, as of March 30th, the spot market average price of 3188 yuan / ton, compared with the beginning of the month fell 24.89 yuan / ton, down 52.11% compared to the same period. On the device side, the current PTA load is around 76%, down 6% from the beginning of the month. In mid March, some PTA plants will be centralized overhauled for about two weeks, and the maintenance will be completed from the end of March to the beginning of April. At the same time, demand is blocked. The current PTA social inventory is still on the 3 million ton side. It is estimated that the PTA inventory will probably reach a new high in April.

　　 Recent changes in domestic PTA installations

Downstream textile market demand is worrying inside and outside the market, the domestic factory only a few years later, worries remain, purchasing enthusiasm is weak, manufacturers production and marketing is difficult to do flat, inventory continues to rise, at present, Jiangsu and Zhejiang area weaving enterprises grey fabric inventory has risen to 40-41 days near, part of the manufacturers to inventory is more difficult. On the export side, according to customs statistics, 1-2 months in 2020, China exported 13 billion 772 million 500 thousand US dollars in textile yarn, fabrics and products, down 19.9% compared with the same period last year, and clothing and accessories 16 billion 62 million 300 thousand US dollars, down 20% from the same period last year. At present, some foreign trade orders have been cancelled, and shipments have been suspended. The price pressure has also increased frequently, and profit margins have shrunk. The stock and capital pressure of the spinning enterprises climbed, and the comprehensive start up of Jiangsu and Zhejiang looms dropped to around 61%. The enthusiasm of the two quarter commencement is expected to decline, and the loom operating rate will continue to decline.

Xia Ting, a business analyst, believes that the upstream oil slump, the imbalance between PTA supply and demand, and insufficient cost continue to collapse. The downstream weaving market has been scarred, inventories have climbed steadily, orders have been reduced and inventories have increased. Many weaving enterprises have decided to implement holidays and reduce production operations in the peak season of "golden three silver four", and the market has entered the off-season ahead of schedule. Polyester filament price center of gravity all the way down, factory preferential sales promotion constantly, is expected to continue to weaken in April is more likely.