According to the commodity market analysis system of Shengyi Society, the overall price of polyester filament has been weak due to the drag of long and short factors this month. At the end of the month, some companies alleviate inventory pressure and offer discounts on shipments through promotional offers. On March 31st, the mainstream polyester filament factories in Jiangsu and Zhejiang quoted POY (150D/48F) at 6800-7100 yuan/ton, polyester DTY (150D/48F low elasticity) at 8100-8350 yuan/ton, and polyester FDY (150D/96F) at 7100-7400 yuan/ton.
In terms of cost, international crude oil prices fluctuate due to the geopolitical situation and supply and demand expectations, with the settlement price of the main Brent crude oil futures contract fluctuating around $85 per barrel in March. The prices of upstream raw materials (PX, PTA, MEG) have all fallen across the board. At the end of March, the average price of PTA in the East China market was 4861 yuan/ton, a decrease of nearly 2% from the beginning of the month
In terms of demand, the traditional peak season of “gold, silver, and silver” did not perform as expected, with weak foreign trade orders and domestic sales mainly focused on replenishing inventory for essential needs. The release pace of spring and summer orders was slow, and the growth rate of polyester filament production capacity slowed down. However, the high operating rate (about 88%) led to inventory rising to a nearly three-year high, resulting in significant supply pressure in the industry.
Overall, the polyester filament market has been under triple pressure this month, including declining costs, weak demand, and high inventory levels. Prices have remained stable but slightly weak. In the future, it is important to focus on the trend of crude oil, the pace of terminal order recovery, and enterprise differentiation strategies. There is limited room for price rebound in the short term, and Business Society believes that the polyester filament market will continue to operate weakly in the short term.