The traditional textile market’s “Indian Summer” in March is coming to an end, but the polyester market has not improved as expected; instead, “down, down, down” has become the dominant direction of the polyester market. Compared with polyester filament and other products, polyester staple fiber is not a mainstream product, but it is difficult to escape the fate of decline. In just over a month, the mainstream quotation of 1.4D direct-spun polyester staple fiber market not only fell below 8 The important mark of 1,000 yuan has even dropped to the level of 7,500-7,700 yuan/ton, which is a significant drop of nearly 1,000 yuan/ton from the price in early March.
If the price of a product can rise, it must have “the right time, the right location, and the right people”, and the upper and lower parts of the industrial chain will work together to boost each other. On the contrary, polyester staple fiber prices have continued to fall recently, which is not only restricted by poor performance on the supply and demand sides; it is also weighed down by costs and the inseparable cotton market. What kind of difficulties is the polyester staple fiber market facing today?
Being the first to bear the brunt, the weakening price of polyester staple fiber is inevitably inseparable from the constraints of supply and demand.
The performance of the downstream yarn market has been unsatisfactory in the recent period. Among them, the pure polyester yarn market price center has been weak. It is reported that the current mainstream quotation in the 32S market has dropped to around 11,900-12,100 yuan/ton, and the overall transaction volume is not large. Affected by this, downstream yarn manufacturers are not very enthusiastic about purchasing polyester staple fiber, and most of them mainly replenish goods for urgent needs; traders are also cautious and wait-and-see, and do not dare to easily stock up in bulk.
As for supply, according to statistics, the polyester staple production capacity in 2017 was 6.79 million tons. Among them, the devices that are included in the production capacity but are not currently in operation include Xiangsheng 200,000 tons, Far East 200,000 tons, Shanghai Hengyi 120,000 tons, and the rest are not in operation. Not included in production capacity for now. The supply remains unchanged and the demand is weak. The inventory pressure of polyester staple fiber manufacturers has naturally increased. It is reported that the inventory level of its mainstream manufacturers has risen to about 16-23 days, and some are slightly higher or lower.
This round of weakening polyester staple fiber market is also subject to the suppression of upstream raw material costs to a certain extent.
Since the Spring Festival, MEG has suffered the most drastic decline; especially in March, not only did MEG’s electronic trading fall by the daily limit for three consecutive days, but the price center of gravity of the spot market has also been losing ground. The current internal price has dropped to 6,200. -6,250 yuan/ton, which has dropped by nearly a thousand yuan in a month. Naturally, the upstream raw material PTA market cannot escape the weak downward trend. Although the decline is slightly slower than that of MEG, it is still in a slow decline. The current internal quotation has fallen to around 4940-4980 yuan/ton, and the transaction price has dropped to 4900-4980 yuan/ton. Around 4920 yuan/ton.
For the polyester staple fiber market, in addition to its own supply and demand factors and upstream cost factors, the weakening of the cotton market also has a closely related impact on it.
In fact, the cotton market has always been a major focus of the textile market. Since the official start of the national reserve cotton rotation on March 6, the entire cotton market was better that day, futures rose sharply, and the trading atmosphere was good; however, the subsequent market situation was a bit “cold water”, and Zheng cotton futures continued to fall. Under this influence, the spot price The average market transaction price and transaction volume both showed a downward trend. With the cotton market turbulent, there is naturally a certain downward pressure on polyester staple fiber, which is in a substitution relationship.
In summary, the polyester market is now in a state of contradiction, caution, and entanglement. The polyester staple fiber market is also difficult to be immune to. The “Little Indian Spring” market in March must have gone away. If, driven by international oil prices, upstream costs show signs of stabilization and recovery, coupled with improved demand, it may bring boost to the polyester staple fiber market, and we can look forward to the market in April.
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