[168TEX News] As international oil prices have plummeted, hitting a seven-year low, the overall bearish atmosphere in the polyester market has continued to spread in recent times; under cost pressure, most polyester products on the market have recently hit record lows. . The polyester filament market cannot escape the fate of decline, and the prices of various products are mostly unable to move forward.
First of all, judging from the price trend of the polyester filament market, the polyester filament market has continued to be weak recently, and its price center has fluctuated and fallen. In late November, supported by the strong fluctuations in international oil prices, the cost of upstream polyester raw materials was firm, which also had a certain supporting effect on the polyester yarn market. The quotations of mainstream products in the polyester yarn market were acceptable; however, in December, As the international oil price fell below 40 US dollars per barrel, and then continued to plummet to a seven-year low, affected by this, the raw material PTA and MEG market prices also showed weakness, which suppressed the polyester market from the cost side, coupled with demand constraints , Polyester yarn manufacturers have lowered their quotations one after another. In terms of price, as of December 17, the market quotations of polyester filament semi-gloss FDY150D were mostly concentrated around 6,500 yuan/ton, which was a decrease of nearly 300 yuan/ton, or 4.41%, compared with the price in the same period last month; in addition, POY 150D The average market price is around 5,950 yuan/ton. Compared with the same period last month, the price dropped sharply by 490 yuan/ton, a decrease of 7.61%. In addition, the average market price of DTY 150D is concentrated at around 7,600 yuan/ton, which is consistent with the price in the same period last month. Compared with the same period last month, the price dropped by 425 yuan/ton.
We know that the weakening polyester market is partly due to cost constraints, and more importantly, it is also difficult to follow up on demand. In terms of market production and sales, in mid-to-late November, boosted by good news, the polyester filament market did usher in a purchasing boom. Most downstream weaving manufacturers made large-scale purchases. The overall production and sales of polyester manufacturers rebounded, and the production and sales of most manufacturers Both exceeded 100; however, after a short period of improvement, production and sales weakened again. It was not until the end of the month that many downstream weaving manufacturers replenished goods, and production and sales were slightly boosted by this. Entering December, under the pressure of the market, downstream weaving manufacturers gradually became cautious in purchasing, mostly purchasing on demand. The overall production and sales of the polyester market were mostly concentrated around 60%-80%, and it was generally difficult to exceed 100%.
As the demand for polyester yarn market is weak, production and sales are difficult to continue to improve, which naturally provides little motivation for improvement in the overall inventory level of polyester yarn manufacturers. From the perspective of inventory, in the past month, the overall inventory level of the polyester filament market has been in a state of first falling and then rising. In the early stage, driven by the rebound in demand and the improvement in production and sales, the inventory level of polyester filament products was alleviated, and the overall inventory declined to a certain extent. Later, as the market demand fell, production and sales decreased, resulting in an increase in the inventory of mainstream products. In terms of specific products, the current overall polyester market inventory is concentrated around 14-17 days; POY inventory is around 12-15 days, FDY inventory is around 13-16 days, and DTY inventory is around 18-28 days About days.
Taken together, the international oil price is running at a low level. Under this restriction, the market situation of the upstream polyester raw material PTA is difficult to improve. The upstream raw material cost of the polyester market has a certain drag on it; in addition, the downstream weaving manufacturers are affected by the off-season factors, and the demand It may continue to weaken, and the demand for raw materials is unlikely to increase. The difficulty in boosting production and sales is the key factor affecting the trend of polyester yarn. It is expected that the polyester market will still be dominated by weak operation in the future, and we need to continue to pay attention to the polyester operating rate and the reduction of production shutdowns in the downstream weaving market.