Raw Material Support Weak, Polyester Filament Price Pressure

According to the price monitoring of the business agency, the domestic polyester filament market is stable and weak this week, among which the most obvious decline is polyester POY. As of August 21, the average market price of polyester POY (150D / 48F) is 5304 yuan / ton, with a weekly decrease of 0.49% and a year-on-year decrease of 32.03%.

　　 Average price rise and fall of polyester filament Market from August 14 to 21, unit: yuan / ton

PTA price of raw materials continued to weaken, the purchasing enthusiasm of downstream textile enterprises was insufficient, and most of them were mainly to digest inventory. The transaction atmosphere of polyester market was not good, and the price center was stable and fell. At present, the main quoted price of POY 150D / 48F is 5050-5450 yuan / ton, that of FDY 150D / 96F is 5700-6050 yuan / ton, and that of DTY 150D / 48F (low elasticity) is 6650-6950 yuan / ton. In terms of inventory, the overall inventory of polyester market is concentrated in 33-41 days; in terms of specific products, POY inventory is up to 11-18 days, FDY inventory is around 22-32 days, and DTY inventory is about 30-41 days.

The PTA Market of upstream raw material maintained a small decline trend this week. As of August 21, the average market price was 3576 yuan / ton, down 1.47% on a weekly basis and 32.74% on a year-on-year basis. During the week, PTA shutdown and maintenance devices entered the restart stage one after another, with the operating rate increased to more than 87%, and a small increment appeared at the supply side. Although the terminal orders recovered, the market's expectation for foreign trade weakened and the support from the demand side was insufficient. At present, PTA is still in a high level due to the limited inventory of 4 million tons, which is still in the high level. As of August 14, the domestic PTA social inventory was 3.92 million tons, a decrease of 65000 tons compared with the previous week, but a significant increase of 2.45 million tons compared with the same period in 2019. In addition, the market still has some concerns about crude oil demand, so the price shows a weak downward trend.

The overall purchase of the terminal is not good, and the comprehensive starting rate of Jiangsu and Zhejiang looms has slightly increased around 64%, but it is still at a low level compared with the same period last year. In recent years, the transaction of thin fabrics in the traditional market of China Light and textile city has continued to decline in summer. There are many suppliers in the domestic market who continue to make a small increase in fabric proofing in autumn and winter. There are relatively more varieties of various knitted fabrics on the market, but the spot market volume is still relatively limited. Among them, small jacquard strips and small diamond lattice double sides with polyester bright FDY, semi light FDY, DTY and POY as the main raw materials are small jacquard strips and small diamond lattice double sides The number of sanitary cloths was increased. In addition, autumn T / C polyester cotton blended fabric subscription merchants increased in part, some large-scale business outlets hanging sample listing varieties new growth. T / C polyester / cotton fabrics are mainly made of polyester cotton yarn card, polyester cotton canvas for work clothes made by industrial and mining enterprises in autumn, and polyester and cotton poplin for making autumn long sleeve shirts, and there are still scattered transactions. Foreign trade market, especially the arrival of autumn and winter fabric orders, gradually opened up the situation, sales began to increase locally.

However, no matter the terminal orders of Xiashe are improved, the market still needs to be cautious. At the same time, there are still some worries about crude oil demand in the raw material market, and the oil price will consolidate at a high level. PTA plant restart heating, loose supply expectations, inventory remained high, with the restart of polyester plant, the demand side will improve, so the short-term PTA price will maintain a narrow downward trend. Overall, it is expected that the polyester filament market is likely to decline in a narrow range.