According to the Commodity Market Analysis System of Shengyi Society, the price of domestic polyester filament decreased significantly in early September. The price of raw materials has collapsed, and the price of polyester filament continues to decline. Currently, the mainstream polyester filament factories in Jiangsu and Zhejiang offer POY (150D/48F) at a price of 7000-7300 yuan/ton, polyester DTY (150D/48F low elasticity) at a price of 8500-8900 yuan/ton, and polyester FDY (150D/96F) at a price of 7500-7800 yuan/ton.

In early September, OPEC lowered its forecast for global crude oil demand growth in its monthly report, offsetting potential supply risks from hurricanes in the Gulf region, and international oil prices fell to their lowest point in 33 months. On the 13th, NYMEX crude oil futures 10 contract 68.65 fell 0.32 US dollars per barrel or 0.46%; ICE Brent Oil Futures 11 contract fell $0.36 per barrel or 0.50% to 71.61.

In terms of PTA, prices have declined significantly. As of September 13th, the average spot price of PTA in East China was 4792 yuan/ton, a decrease of nearly 600 yuan/ton from the beginning of the month. International crude oil prices have experienced a wide decline, and PTA cost support has collapsed. In addition, the company’s operating rate remains high, but downstream demand is insufficient, and PTA still faces pressure to accumulate inventory. Under the combination of multiple negative factors, the PTA market continues to weaken.

The traditional peak season has arrived, and for the future market of polyester filament, basic demand and essential needs still exist. Downstream and end customers have cautious expectations for the future, and bearish sentiment has eased, but the wait-and-see attitude is obvious. Polyester manufacturers trade price for quantity, while downstream procurement of raw materials maintains essential demand operations.

Overall, analysts from Shengyi Society predict that it will be difficult to replicate the hot situation in the first half of the year in the future, but the existence of rigid demand will lead to stable and fluctuating prices.