Market Trend

WTI/Brent ( June 24th - July 12th, 2024 )

PX  ( June 24th - July 12th, 2024 )

PTA ( June 24th - July 12th, 2024 ) 

MEG  ( June 24th - July 12th, 2024 )

1. Polyester Filament

The international crude oil prices fluctuated strongly in a high level. The IEA monthly report is released, and it is expected that the growth rate of oil demand in 2024 will reach 970,000 barrels per day, the growth rate of oil demand in 2025 is expected to reach 980,000 barrels per day. If voluntary production reduction measures continue to be implemented ,OPEC+ supply will decreased by 740,000 barrels per day in 2024. Then the crude oil rebounded slightly. The overall cost of polyester raw material is relatively stable for the time being.

On production side, under the pattern of both supply and demand decreasing, the cost side has some support due to the short-term pricing strategy of mainstream factories remains unchanged. Overall, the price of filament is expected to maintain a stable to slightly upward trend. For the long term, attention should be paid to the load adjustments of leading enterprises and international situation.

2. PSF

Recent PSF behaved general. Polyester raw materials and PSF showed shocked consolidation. In the morning session, spot prices mostly remained stable, with transactions being negotiated on an order-by-order basis. It’s recommended that you can maintain a flexible pricing strategy and purchase according to demand.

3.VSF

The VSF market kept relatively clam, and the supply side still in a preference situation. Although the signing of orders is not as good as in the early stage, there is not much pressure on normal shipment and the overall inventory is still low. It’s recommended that maintain normal raw material inventory levels and replenish monthly usage as usual during the promotional period.

4. Spandex  

The Spandex market is general and deal is based on negotiation. It’s recommended that uyers follow up based on their orders and demand.  

5. Nylon  

The decline in pure benzene has slowed down and turned into a volatile trend. CPL prices are temporarily stable, but the spot prices of conventional and high-speed spinning chips have fallen rapidly and will still face certain pressure. It is recommended to purchase in moderate amounts when prices are relatively low.