Market Trend

WTI/Brent ( July 15th - July 31^ST, 2024 )

PX  ( July 15th - July 31^ST, 2024 )

PTA ( July 15th - July 31^ST, 2024 ) 

MEG  ( July 15th - July 31^ST, 2024 )

1. Polyester Filament

After the initial fluctuating decline in Curde oil, there was a significant rebound yesterday. This was due to the market’s sudden heightened concerns about geopolitical conflict following the death of a Hamas leader in an attack. The cost of polyester raw material followed to increase.

On production side, factories’ short-term inventory pressure has released to some extent because of the downstream raw material stockpiling. However, if the high-temperature conditions continue, leading to no resumption of downstream operations, the consumption rate of polyester filament will reamin slow. The contradiction between upstream production cut and downstream low operation& low demand still exist. The market keeps watch-and-see attitude and transaction is based on rigid-demand.

It’s recommended that monitor the demand changes in the downstream market, predict order trends, and arrange procurement plans reasonably.

2. PSF

The recent PSF market shows a fluctuating consolidation with acceptable transactions. Yesterday’s deal has improved a lot and factories’ inventory released. The night session Crude oil prices rebounded, then the PSF spot price increased 50-100cny/ton this morning. The overall market transaction is based on negotiation.

3.VSF

The VSF market remains steady. At present, the market is mostly in a wait-and-see state. It’s recommended tha maintain a regular inventory of raw materials and replenish the monthly requirement during the promotional period.

4. Spandex   

The spandex sellers were actively shipping goods at the end of the month. In the short term, spandex may experience minor adjustments in the lower range. It is recommended that buyers follow up based on their orders and demand.                                                                                                                                                                                    

5. Nylon  

The price of pure benzene went up, the sellers kept the CPL price. Conventional spinning chips are slightly weak, and the price of high-speed spinning spot decreased. It is recommended to replenish stocks when prices are low and to be cautious about chasing high prices.