According to the Commodity Market Analysis System of Shengyi Society, the domestic price of polyester staple fiber fluctuated slightly and declined in July. As of July 30th, the average market price of domestic polyester staple fiber (1.4D * 38mm) was 6613 yuan/ton, a decrease of 1.81% from the beginning of the month.
Recently, due to the combined impact of long and short factors, the traditional fuel consumption peak season in the United States is still ongoing, and supply side risks have not been eliminated. International oil prices are expected to remain volatile in the short term. As of July 29th, the settlement price of the September WTI crude oil futures contract in the United States was $69.21 per barrel, and the settlement price of the September Brent crude oil futures contract was $72.51 per barrel.
The domestic PTA spot market in July showed a V-shaped trend, with an average price of 4889 yuan/ton in the East China PTA market as of July 30th, a decrease of 3.79% from the beginning of the month. In the first half of the month, the cost support for crude oil fluctuations was limited, and the PTA industry’s capacity expansion expectations were combined with polyester production reduction expectations. Under the weak supply-demand situation, PTA showed a weak pattern. But with the recovery of macro sentiment and the firm trend of commodities, the PTA market rebounded weakly due to this impact.
Due to multiple factors such as high temperature weather and traditional off-season, the improvement of demand is weak. Downstream yarn factories have insufficient orders, and losses have begun to expand, hindering procurement enthusiasm and maintaining essential procurement. Under the atmosphere of macroeconomic sentiment warming at the end of the month, it stimulated buying sentiment and led to a slight increase in demand.
Business analysts believe that the macro sentiment has rebounded and costs have rebounded weakly. There has been some replenishment of inventory at the low end, and inventory pressure in polyester short fiber factories has eased. However, the subsequent supply and demand expectations are still weak, and the upward drive is limited. It is expected that the price of polyester staple fiber in August will still mainly follow the fluctuations of cost and demand.
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