According to the monitoring of the business community, the domestic polyester filament market situation remained weak at the end of November. At present, the mainstream polyester filament factories in Jiangsu and Zhejiang Province have polyester POY (150D/48F) prices at 6700-7100 yuan/ton, polyester DTY (150D/48F low elasticity) prices at 7750-8300 yuan/ton, and polyester FDY (150D/96F) prices at 7550-8000 yuan/ton.

On November 29, international crude oil futures closed higher. The settlement price of the main contract of WTI crude oil futures in the United States was US $78.20/barrel, up by US $0.96 or 1.2%. The settlement price of the main contract of Brent crude oil futures was 84.25 dollars/barrel, up 0.36 dollars or 0.4%. The news of output reduction of the Organization of Petroleum Exporting Countries and its allies (OPEC+) is still fermenting. In addition, the expected pressure on the demand of the number one oil importer has eased, and the oil price has been boosted.

Driven by crude oil, the average price of domestic PTA spot market was 5553 yuan/ton on November 30, up 1.68% from November 28. However, at the PTA supply end, the unit load remains around 70%. In terms of new capacity, the 2.5 million ton unit of Jiatong Energy and the 2.5 million ton unit of Dongying William are gradually released, and the pressure on new capacity is gradually coming. In addition, terminal orders are weak, demand is weak and PTA is gradually accumulating.

With the departure of the traditional peak season of “Jin Jiuyin Shi” and the arrival of the off-season of demand, the domestic sales data of domestic textiles and clothing continued to decline, and the window for the replenishment stage of foreign textile industry has been closed. While domestic sales are weak and export sales are poor, the overall downstream terminal demand support is still weak. With the sharp decline of weaving machine rate in the market, the weaving operation rate in Jiangsu and Zhejiang fell below 55%. It is extremely difficult for textile enterprises to effectively improve their orders at the end of the year.

Analysts from the business community believe that with the launch of PTA’s new capacity, the accumulated inventory is expected to rise, and the cost side support will be loosened. The demand side will face the Double Twelfth and Christmas Day next month, only sporadic small orders will be issued, and the terminal market improvement is not expected to be high. It is expected that polyester prices will continue to operate in a weak position in the short term.