Since January, the polyester filament market has maintained a volatile recovery, boosted by the favorable cost side. According to the price monitoring of the business society, as of January 15, the price of polyester POY (150D/48F) in mainstream polyester filament factories in Jiangsu and Zhejiang was 7300-7700 yuan/ton, and the price of polyester DTY (150D/48F low elasticity) was 9100-9350 yuan. / ton, polyester FDY (150D/96F) quoted at 7700-8200 yuan / ton.
It is understood that the current overall polyester market inventory is concentrated in 16-26 days, of which POY inventory is 16-19 days, FDY inventory is around 16-17 days, and DTY inventory is around 17-25 days.
In the crude oil market, international oil prices hit a new high in nearly two months. As of January 13, the settlement price of the main U.S. WTI crude oil futures contract was $82.12 per barrel, and the settlement price of the main Brent crude oil futures contract was $84.47 per barrel. Market participants generally expect that the mutated virus Omicron will have a limited impact on the global economic recovery, but oil supply is still tight, and investors believe that the Federal Reserve is not as hawkish as expected, supporting a rebound in oil prices.
Since January, the domestic PTA price has maintained an upward trend. As of January 15, the average domestic PTA market price was 5,213 yuan/ton, an increase of 5.04% from the beginning of the month and a year-on-year increase of 33.68%. In January, the maintenance of domestic PTA plants has increased. As of now, the industry has started at around 77%, down about 3 percentage points from the beginning of the month. However, Yisheng Dalian and Hailun petrochemical plants are facing restart this weekend, and supply is expected to recover next week. In addition, in terms of new production capacity, Hengyi Petrochemical stated on the interactive platform on January 14 that the basic construction of the 3 million-ton PTA project of Yisheng New Materials Line 2# has been completed and has not been put into production yet.
At present, the Chinese New Year atmosphere of terminal textile enterprises is getting stronger, and factories in Jiangsu and Zhejiang continue to reduce their burdens. Many factories plan to suspend work and have holidays. The order situation is not good. New orders for domestic trade are rarely heard, and new orders for foreign trade are also significantly reduced. In addition, affected by the renovation of sewage stations in Wujiang, Jiangsu, the rate of water spraying in Shengze area has dropped significantly, and some weaving factories have been shut down for holidays in advance, and are expected to resume work after March.
Analysts of the business community believe that the recent trend of polyester filament market is dominated by cost. Under the boost of international oil prices, the cost support still exists, and the short-term polyester filament price will still maintain a slight fluctuation and rise. The market price of raw materials continues to rise, and it is expected that the weaving factories that have not been shut down for the holidays may carry out the last round of replenishment before the festival.