On September 19th, international crude oil prices declined. By the end of the trading day, the price of light crude oil traded on the New York Mercantile Exchange fell by $0.99 to close at $74.43 per barrel for September delivery. Meanwhile, Brent crude oil, traded in London, dropped by $1.17 in October contracts, settling at $75.30 per barrel. This decline in oil prices has started to impact the upstream polyester sector, which had been experiencing a strong upward trend recently. As a result, the market sentiment has begun to shift, with inventory levels among polyester yarn manufacturers rising sharply and downstream buyers adopting a more cautious approach.
In response, polyester yarn prices in the Jiangsu and Zhejiang regions have continued to fall. In the Jiangsu market, prices for FDY, a key product from major producers in Shengze, dropped by RMB 300–600 per ton. POY and DTY prices also saw declines of RMB 100–200 per ton. The current market cash offer for FDY50D/48F is around 17,300 yuan per ton, while the FDY50D/72F is also quoted at 17,300 yuan per ton. The market acceptance price for POY75D/72F stands at 14,100 yuan per ton, and POY150D/144F is being accepted at 12,100 yuan per ton. While one major manufacturer’s quote remained unchanged, local slicing and spinning manufacturers have kept their offers stable, though actual transactions are seeing larger discounts. In the Taicang area, polyester lines are also trending downward. A local mainstream factory's FDY prices have dropped by 200–300 yuan per ton, with FDY50D/24F now reported at 16,900 yuan per ton. POY prices have also fallen by 100–200 yuan per ton, with POY75D/72F currently accepted at 14,000 yuan per ton and POY100D/36F at 11,700 yuan per ton.
In the Zhejiang market, polyester prices continue to decline. Local major manufacturers in Xiaoshan have generally reduced POY offers by 300 yuan per ton, while others remain stable. The current market acceptance for POY75D/36F is around 12,600 yuan per ton, and DTY150D/48F low elasticity is offered at 12,800 yuan per ton. FDY66D/24F is being accepted at 15,800 yuan per ton. Another major producer has maintained its pricing, with POY75/36 currently reported at 12,650 yuan per ton. In Tongxiang, the price of polyester filament has also been falling, with one local mainstream manufacturer reducing its quotes by as much as 100 yuan per ton. The current market acceptance for POY150D/288F is 11,800 yuan per ton. Overall, the polyester market remains under pressure due to weakening demand and increasing inventory levels, signaling a period of adjustment for the sector.
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