According to the Commodity Market Analysis System of Shengyi Society, the domestic price of polyester staple fiber showed a weak trend this week (July 14-18). As of July 18, the average market price of domestic polyester staple fiber (1.4D * 38mm) was 6643 yuan/ton, a decrease of 0.36% from the beginning of the week.
The international crude oil market is currently characterized by loose supply and poor demand, coupled with the overall easing of the geopolitical situation compared to the previous period, which has limited support for oil prices and mainly led to fluctuating adjustments. As of July 17th, the settlement price of the August WTI crude oil futures contract in the United States was $67.54 per barrel, and the settlement price of the September Brent crude oil futures contract was $69.52 per barrel.
The PTA market as a whole maintained a weak trend. As of July 19th, the average price of PTA in the East China region was 4776 yuan/ton, a decrease of 0.28% from the beginning of the week. In the second half of the week, prices rose slightly due to the boost of crude oil. The supply remains stable, there are no new changes in the equipment, and the overall operating rate of the industry is around 80%. Among them, the 2 million ton plant of Yisheng Hainan reduced its load on July 1st due to some reasons, and increased its load on July 6th. In June, the 4.5 million ton plant of Fuhai Chuang and the 2.5 million ton plant of Dongying Weilian were still shut down.
The terminal has entered the seasonal off-season, and the downstream yarn market remains weak, resulting in a lack of enthusiasm for raw material procurement. The high inventory, shortage of orders, and losses in the weaving industry have led to a continued decline in load to below 56%. Textile export orders continue to decline, dragged down by sluggish demand.
Business analysts believe that the traditional off-season terminal negative feedback continues, and the market buying and selling atmosphere is flat. Insufficient cost support and weak demand have resulted in poor performance, and it is expected that the price of polyester staple fibers will continue to remain weak.
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