According to the Commodity Market Analysis System of Shengyi Society, in mid September, the filament market lacked strong positive momentum, resulting in weak market prices and a new low for the year. At present, the mainstream polyester filament factories in Jiangsu and Zhejiang offer POY (150D/48F) at a price of 6900-7200 yuan/ton, polyester DTY (150D/48F low elasticity) at a price of 8500-8900 yuan/ton, and polyester FDY (150D/96F) at a price of 7500-7800 yuan/ton.

In mid to late September, the domestic PTA spot price stopped falling and stabilized. As of September 20th, the average spot price of PTA in East China was 4811 yuan/ton, an increase of 0.39% from the beginning of the week. The international oil price trend is relatively strong, providing upward support for PTA costs. In addition, the macroeconomic sentiment has improved, and the general rise in commodity markets has triggered resonance. Due to the unplanned shutdown of multiple PTA plants, prices have stopped falling and rebounded slightly.

Entering the traditional peak season of “Golden September”, the market was not as enthusiastic as expected, and weak demand led to a setback in market confidence. As a result, the operating rate of the polyester industry was adjusted to around 85%. As the summer heat gradually subsides, the operating rate of downstream industries is steadily recovering, and fabric orders for autumn and winter seasons are slowly opening up, showing an overall slow recovery trend. However, downstream textile enterprises have generally reported a significant decrease in the actual number of orders received compared to previous years, coupled with unfavorable fluctuations in raw material costs, leading to increasingly fierce competition within the entire textile market. In this environment, the bargaining space for fabric orders has been significantly compressed, and textile enterprises are facing unprecedented cost pressures, with profit margins severely squeezed. Tight cash flow has become a norm, forcing companies to adopt a more cautious attitude when accepting new orders to avoid potential operational risks

Overall, analysts from Shengyi Society predict that the willingness of filament enterprises to ship still exists, and it is expected that the center of gravity of the filament market will continue to decline in the short term. However, due to the existence of rigid demand, prices will mainly fluctuate in a stable manner. In the future, we need to pay attention to the trend of the raw material market and the issuance of downstream orders.