WTI/Brent (August 21st - September 5th, 2023)

PX (August 21st - September 5th, 2023)

PTA (August 21st - September 5th, 2023)

MEG (August 21st - September 5th, 2023)

Crude Oil price continues to be supported by the favorable macro atmosphere. Furthermore, boosted by the unexpected extension of production reduction deadlines by Russia and Saudi Arabia, the international Crude oil surged to a new year high, reaching 90usd/barrel.

There will be two major events in China from September to October in Zhejiang, the 19^th Asian Games and the 4^th Asian Paralympic Games. In the meanwhile, there are typhoons from time to time, which affects the production and shipment to a large extent.

1. Polyester Filament
Crude oil soared, the cost of polyester raw materials had a sharp increase accordingly. Factories’ prices increased by 50-150cny/ton on weekend and went up further on Monday and Tuesday. During this hot season, the downstream market is increasing their demand for polyester products and reducing their grey fabric inventory. Factories have a strong support from the cost side and it’s easy for the price to go up but difficult for it to go down in the short run. It’s important to make a purchasing plan in advance. In the long term, it’s necessary to pay attention to fluctuations in raw material prices, polyester load, and the situation of production and sales.

2. PSF

Oil prices soared. The PSF market has a strong support from the cost side. Last weekend, factories increased the prices by 50-100yuan/ton on average. In the morning session on Monday, most factories increased the prices by 50-100yuan/ton again. The overall market remains a strong performance. It’s important to keep an eye on the trend of polyester raw materials and make a plan in advance.

3. VSF

On weekends, factories introduced promotion policies and the trading volume was good. The VSF market shows an increasing trend. At the moment in downstream, the vortex price is going up smoothly while the ring price is rising slowly. It’s expected that the market will have a strong performance in September. It’s recommended that you stock up properly within your risk tolerance range.

4. Spandex

At the beginning of September, prices of spandex products increased by 1000yuan/ton on average. It’s suggested that you purchase as per your firm order and demand.

5. Nylon

The nylon market continues to show a strong performance. It’s expected that the price of pure benzene will rise. The price of CPL spot goods will follow the trend and increase as well. The trading of conventional spinning chips improved and the price went up. The semi-dull market was stable and has increased the supply of spot goods. It’s suggested that you stock up appropriately when prices are low.