According to the price monitoring of the business agency, on June 22, the domestic polyester filament market showed a slight decline in various products, of which the decline of polyester FDY on that day was 1.69%, the most obvious. The price of polyester FDY (150D / 96F) of mainstream factories in Jiangsu and Zhejiang was 6150-6450 yuan / ton. The textile industry has gradually entered the traditional off-season, with low enthusiasm for raw material procurement and general transaction atmosphere, which has hindered the price.

Average market price of polyester filament, unit: yuan / ton

Product 2020-6-21, 2020-6-22 up and down year on year

Polyester FDY (150D / 96F) 6423 6315 – 1.69% – 24.37%

Polyester POY (150D / 48F) 5694 5674 – 0.35% – 29.46%

Polyester DTY (150D / 48F low elastic) 7357 7320 -0.51% – 23.11%

In PTA market, the average market price on the 22nd was 3685 yuan / ton, down 0.29% compared with the previous day, down 38.30% year on year. At present, PTA social inventory is close to 4 million tons, still at a high level. As the 2.2 million ton plant of Hanbang Petrochemical started to heat up and restart on 18th, the 400000 ton plant of Shanghai Jinshan Petrochemical Co., Ltd. was put into operation again on 21st. At the same time, the 2.5 million ton new plant of Hengli at the end of the month is expected to be put into operation, and PTA market supply will increase in stages, which is not conducive to inventory digestion. In addition, PTA processing fee is still close to 700 yuan / ton, and the manufacturer is still in a good profit state, which does not exclude the possibility of postponement of factory maintenance plan.

In the middle and last ten days of June, the off-season atmosphere of the textile and weaving market gradually deepened, especially in the off-season of a special year. Most of the weaving enterprises began to significantly reduce the start-up rate, and the comprehensive start-up rate of Jiangsu and Zhejiang looms was reduced to around 62%. It seems that the factories that guaranteed the start-up rate in the early stage have unified the previous holidays in the near future, and the whole market is full of holidays and production stops. The phenomenon of postponement and extension of payment for goods has increased, especially for foreign trade orders. One month’s extension is not a postponement, and foreign trade enterprises are under great pressure.

According to the latest statistics of the General Administration of Customs of China, China’s textile and garment exports in May 2020 reached US $29.554 billion, an increase of 38.36% on a month on month basis, including US $8.905.7 billion for clothing (including clothing and accessories), a decrease of 26.93% on a year-on-year basis. From January to may 2020, China’s cumulative exports of textiles and clothing amounted to US $97.965 billion, a year-on-year decrease of 0.80%, of which the cumulative exports of clothing amounted to US $38.213 billion, a year-on-year decrease of 22.80%.

Xia Ting, an analyst with business club, believes that PTA supply has improved recently. In the context of high inventory, in the traditional off-season of terminal, there is insufficient motivation for continuous rebound, and there is doubt about the cost support. In addition, at the demand level, the demand for domestic sales is reduced, and it is difficult to make a breakthrough in export sales. The factory inventory is increased, and there is no further improvement momentum in the follow-up. Therefore, polyester filament prices continue to weaken more likely.