According to the monitoring of the Business Agency, this week (March 25-31) maintained a slight upward trend, with polyester FDY rising 3.07%, POY rising 2.12%, and polyester DTY rising 2.92%. Currently, for mainstream polyester filament factories in Jiangsu and Zhejiang, the quotation for polyester POY (150D/48F) is 7550-7750 yuan/ton, the quotation for polyester DTY (150D/48F low elasticity) is 8900-9500 yuan/ton, and the quotation for polyester FDY (150D/96F) is 8300-8500 yuan/ton.

Average price rise and fall of polyester filament market Unit: yuan/ton

Commodity/ March 25th/ March 31st/ Up and down/ Year-on-year increase and decrease

Polyester DTY/ 8898./ 9158./ 2.92%./ -4.25%

Polyester POY/ 7465./ 7623./ 2.12%./ -3.09%

Polyester FDY/ 8144./ 8394./ 3.07%./ -2.46%

In the crude oil market, the US commercial crude oil inventory unexpectedly decreased, and the export of crude oil from the Kurdistan region of Iraq was blocked. The oil market gained significant support. As of March 30, the settlement price of the main contract for WTI crude oil futures in the United States was $74.37/barrel, while the settlement price of the main contract for Brent crude oil futures was $78.60/barrel. There is not much circulation of goods and it is estimated to destock in April. PTA prices will continue to rise this week. Currently, the average market price in East China is 6404 yuan/ton, with a weekly increase of 3.85%.

Jiangsu and Zhejiang weaving starts have remained around 67%, with no significant decline yet. Currently, orders for out of season fabrics have been placed in succession, and domestic textile foreign trade orders have also been placed in small quantities. However, the overall market order volume is still lower than the level of the same period last year. And as the price of raw materials continues to rise, the pressure on losses increases, and confidence in the future market is generally insufficient. Most downstream factories stock up until around the Tomb Sweeping Festival, and some purchased raw materials are readily available.

Analysts from the Business Agency believe that the tight supply of raw material PX is expected to continue until late April and even May. PTA has a strong upward momentum, so there is still good support for polyester fiber costs. However, the downstream market is in a strong wait-and-see mood, mainly placing orders cautiously, which forms a certain degree of repression against the rising trend.