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Polyester filament: the long and short game continues
Due to inventory pressure at the end of April, polyester filament manufacturers have offered profits to ship goods, and some have increased production and sales. Enterprises' inventory pressure has slowed down, and their willingness to support the market is obvious. In April as a whole, most models of polyester filament yarns suffered cash flow losses to varying degrees. Companies have a strong willingness to maintain capital, and the market may remain stable during the May Day holiday.
Most industry players recently stated that the number of people traveling during the May Day holiday is expected to increase significantly year-on-year. The peak tourism period will drive demand growth in textiles and other industries. Therefore, downstream users have certain expectations of replenishment after May Day. Therefore, taking a comprehensive look at the polyester filament market in early May The price fluctuated upward, but as the atmosphere heated up, polyester filament yarn gradually entered the traditional off-season for demand. As the inventory pressure of enterprises increased, the market will start a profit-sharing shipping mode. Therefore, the polyester filament market still has the risk of downward adjustment, and the market first rose and then suppress.
Weaving enterprises: urgent need to replenish inventory
In March and April this year, weaving companies' shipments were in good condition, but they focused on "small profits but quick turnover", and their profits were not even as good as in the past two years. Because profits are not good, weaving companies have higher requirements for cost control. As international oil prices fall, polyester raw material prices loosen, and weaving companies have a wait-and-see attitude. In addition, at the end of April, polyester factories started promotions due to inventory pressure, and some weaving companies also completed replenishment during the promotion period, and their purchasing intentions weakened.
After entering May, the traditional peak season has passed, and the market has gradually differentiated. In order to cope with the inventory pressure that may be formed in the future off-season, some companies will also choose to control the start of operations.
Crude Oil Market Outlook
Overall, the sharp drop in crude oil has created downward expectations for the polyester market and aggravated the wait-and-see mood of the market. In the future, fluctuations in crude oil will still be one of the most important factors affecting the development of the polyester industry.
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