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According to the business community commodity market analysis system, this week (June 12-16) domestic polyester filament prices fell slightly, as of June 16 in Jiangsu and Zhejiang mainstream polyester filament factory, polyester POY(150D/48F) quote in 7500-7800 yuan/ton, Polyester DTY(150D/48F low elastic) quote at 8850-9350 yuan/ton, polyester FDY(150D/96F) quote at 8050-8350 yuan/ton.
U.S. retail sales unexpectedly rose in May, supported by positive jobs data. In addition, China's refinery processing volume has increased significantly, and the oil market has fluctuated upward. As of June 15, international crude oil futures rose. The main contract for U.S. WTI crude oil futures settled at $70.62 per barrel, while the main contract for Brent crude oil futures settled at $75.67 per barrel.
In terms of PX, the unplanned decline made the monthly supply and demand balance tight, and the price strengthened. The spot processing fee of squeezed PTA is below 200 yuan, so the enthusiasm of PTA plant construction is reduced, and the current industry construction is near 73%. Affected by the PTA rebound, as of June 16, the domestic PTA market price in East China was 5737 yuan/ton, up 2.52% from the beginning of the week (June 12).
With the improvement of the atmosphere at the cost end, the replenishment action of downstream enterprises has increased. However, under the traditional off-season of high temperature and high humidity, terminal demand is poor, cash flow is weak, inventory accumulation, and the start of weaving factories in Jiangsu and Zhejiang fell below 60%. And from the recently announced textile and clothing export data is also relatively weak, the US dollar in May textile and clothing exports of 25.32 billion US dollars, down 13.1%, down 1.3%, of which textile exports of 12.02 billion US dollars, down 14.2%, down 5.6%, clothing exports of 13.3 billion US dollars, down 12.2%, an increase of 3%.
Business analysts believe that the recent crude oil prices are still expected to move up, a number of domestic PX plants unplanned production cuts are still fermented, and cost support is strong. Downstream demand improved in stages, but the recovery of demand under the off-season is limited, and the price of polyester filament is expected to remain weak.