According to the Commodity Market Analysis System of Shengyi Society, the domestic price of polyester filament has decreased this month. Under the influence of PTA prices and insufficient terminal demand, the price of polyester filament continues to decline. Currently, the mainstream polyester filament factories in Jiangsu and Zhejiang offer POY (150D/48F) at a price of 7300-7600 yuan/ton, polyester DTY (150D/48F low elasticity) at a price of 8900-9100 yuan/ton, and polyester FDY (150D/96F) at a price of 7900-8100 yuan/ton.

In terms of PTA this month, prices have declined, and as we enter August, demand and US economic data have fallen short of expectations. Global assets have started recession trading, and the weak fundamentals of polyester raw materials have been amplified by macroeconomic sentiment. In 2024, PTA production capacity continues to show an increasing trend, with existing PTA enterprises expanding significantly and some downstream enterprises expanding their raw material facilities. PTA has fallen below the long-term support level of 5500 yuan/ton. As of August 29th, the average price of PTA in China was 5383 yuan/ton, a decrease of more than 7% from the average price of 5830 yuan/ton in the East China market on August 1st, failing to provide effective cost support for the PET market.

Downstream and end customers have cautious expectations for the future, with a clear wait-and-see attitude. Polyester filament manufacturers are concentrating on offering discounts for shipments, with relatively loose supply of goods and sporadic buying. The spot basis still weakens. Insufficient cost support, coupled with the unwillingness of weaving enterprises to pay, has made polyester filament manufacturers unable to increase prices. As the traditional peak season for textiles approaches, sales of autumn and winter clothing will also increase, which will also drive up the entire fabric market. Raw material prices may be boosted to some extent by market demand.

Overall, analysts from Shengyi Society predict that the traditional peak season is approaching, and for the future market of polyester filament, prices will remain stable with moderate fluctuations and strong operations.