According to the Commodity Market Analysis System of Shengyi Society, the domestic polyester staple fiber market stabilized after a decline in September. As of September 27th, the average price of 1.4D * 38mm in mainstream factories in Jiangsu and Zhejiang was 7351 yuan/ton, a decrease of 2.65% from the beginning of the month.

On the supply side, the mainstream polyester staple fiber factories in the middle of the month experienced short shutdowns due to weather conditions, which tightened the liquidity of some brand sources and provided some support for prices. But currently, the maintenance and short stop devices for polyester staple fibers have been restarted, and the industry’s production has increased, leading to an increase in supply.

On the cost side, as of September 26th, the settlement price of the main contract for WTI crude oil futures in the United States was $67.67 per barrel, and the settlement price of the main contract for Brent crude oil futures was $71.09 per barrel. The crude oil market is more concerned about the fundamental situation, and factors such as the continued disturbance of the Middle East situation and strong expectations of inventory accumulation in the US consumer off-season market will have a narrow fluctuation in oil prices.

PTA followed the fluctuations of crude oil and was boosted by favorable factors such as macro reserve requirement ratio cuts and interest rate cuts, which boosted the commodity market. The recovery of macro atmosphere caused resonance in the general rise of the commodity market, and PTA prices began to rebound slightly in mid month. The processing profit in September has been compressed, and multiple PTA units in China have been repaired and reduced in load. However, PTA maintenance units have been restarted one after another, which has increased the expectation of loose supply. The domestic industry operating rate is around 81%, and it is not ruled out that there will be an increase in unplanned unit maintenance in October.

On the demand side, downstream has entered the traditional peak season cycle, but due to the lack of significant increase in terminal orders, the main focus is on essential procurement. Some downstream enterprises believe that the price of polyester staple fibers has temporarily bottomed out, so their restocking sentiment has improved and they are actively inquiring and purchasing. However, overall, there has been no significant improvement in demand.

Business analysts believe that the warm cost adjustment has a strong driving force on the price of polyester staple fiber, and there is no sign of improvement in terminal orders. Downstream demand may maintain rigid procurement, and the demand side is still exhausted, which is not enough to support the continuous rise of polyester staple fiber prices.