Since September, the market price of polyester staple fibers has fluctuated and increased. According to the Commodity Market Analysis System of Business Society, as of September 13th, the average price quoted by 1.4D polyester staple fiber factories was 7912 yuan/ton, an increase of 2.62% compared to the beginning of September. Especially this week, the price of polyester staple fiber raw materials has significantly increased, while downstream and futures merchants have increased their search for opportunities to replenish, helping to increase the price of polyester staple fiber.

Recently, there has been strong cost support, and the crude oil market is concerned that OPEC’s reduction in production may lead to tight energy supply in the fourth quarter, pushing oil prices to a new 10 month high. As of September 12th, the settlement price of the main contract for WTI crude oil futures in the United States was $88.84 per barrel, while the settlement price of the main contract for Brent crude oil futures was $92.06 per barrel.

In the PTA market, the price of auxiliary acetic acid continues to rise. As of September 12th, the average price of acetic acid in the East China region was 4733 yuan/ton, an increase of 16.39% compared to the beginning of the month. Affected by the boost of crude oil and acetic acid prices, as well as the unexpected decrease in PTA unit load, the market supply stage has tightened, and the price volatility is relatively strong. The average spot market price in East China is 6329 yuan/ton, an increase of 2.08% compared to the beginning of the month.

Downstream yarn factories have improved their shipments, increased willingness to restock, and improved peak season orders. The overall inventory of the polyester staple fiber industry is at a medium to low level in recent years. However, overall it was not as expected and there is still a gap compared to previous years. The market has a strong wait-and-see sentiment and is relatively stagnant. As of September 8th, the average price of pure polyester yarn in the Shandong region was 12925 yuan/ton, an increase of 0.58% compared to the beginning of the month;

Analysts from Business Society believe that as the Asian Games approach, some polyester factories in Xiaoshan and Shaoxing regions of Zhejiang are expected to shut down for maintenance, so they maintain a high price mentality. In addition, crude oil and PTA prices remain strong, providing positive support for polyester staple fibers. However, from the perspective of textile terminals, there has been a normal seasonal increase in orders, but the increase is not enough. Some terminal textile enterprises are also relatively cautious, which may restrict the upward space of polyester staple fiber prices.