According to the monitoring by the Business News Agency, the domestic polyester filament market has been volatile and strong since March 20th, with polyester FDY up 2.62%, POY up 1.68%, and polyester DTY up 1.58%. Currently, for mainstream polyester filament factories in Jiangsu and Zhejiang, the quotation for polyester POY (150D/48F) is 7500-7700 yuan/ton, the quotation for polyester DTY (150D/48F low elasticity) is 8800-9300 yuan/ton, and the quotation for polyester FDY (150D/96F) is 8200-8400 yuan/ton.

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

Commodity/ March 20th/ March 28th/ Up and down/ Year-on-year increase and decrease

Polyester DTY/ 8868./ 9008./ 1.58%./ -7.19%

Polyester POY/ 7423./ 7548./ 1.68%./ -6.68%

Polyester FDY/ 8104./ 8316./ 2.62%./ -4.00%

The price increase this time is mainly driven by the favorable cost side. Crude oil recovery, PX spring maintenance continued, supply side decreases, and PTA spot circulation is tight. The expected increase in plant and plant production cuts and shutdowns will result in a decrease in operating load of less than 75%, but downstream polyester load remains at a high level of more than 83%, and PTA continues to destock. In terms of price, as of March 28, the average domestic PTA market price was 6294 yuan/ton, up 5.14% from March 20.

Due to the rebound in domestic demand, the terminal weaving industry has been guided by a combination of buying up and not buying down sentiment, resulting in an increase in overall orders and an improvement in active replenishment. The starting load of the weaving industry has significantly increased, and production and sales have been scaled up in the early stage. However, after the previous replenishment cycle, the recent demand follow-up appears weak, and the operating rate of Jiangsu and Zhejiang looms has been reduced to below 70%. The downstream market will resume its downturn again, which will form a drag on the polyester market.

Analysts from the Business Agency believe that there is still good support on the cost side, but there is still uncertainty on the demand side. The pattern of weak foreign demand remains unchanged, and the recovery of domestic demand is also dominated by rigid replenishment. It is also questionable whether the subsequent demand for terminal weaving can continue to follow up. Therefore, in the short term, the price of polyester filament is mainly cautious and bullish.