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color polyester fiber price trend on October
Crude oil led the decline, while color polyester fiber industry chain products followed suit
From early October, crude oil led the decline, while color polyester fiber raw materials followed suit. Entering October, we first experienced an 8-day double holiday, with very light trading in the domestic market and little change in prices. However, the prices of American oil and canvas oil saw a deep decline, mainly due to increased concerns among market participants about US interest rate hikes, dragging down international oil prices and setting the largest weekly decline since March, with American oil falling 9.73% and canvas oil falling 11.32%; At the same time, the price of PX followed the decline in oil prices. On the first day after the holiday, the price of CFR China PX was at $1050/ton on October 6th, a decrease of $73 or 6.5% compared to the price of $1123/ton on September 28th before the holiday; With the decline in crude oil and PX prices, PTA and ethylene glycol prices have both made up for the decline. On the first day of the holiday on October 6th, PTA prices were at 5950 yuan/ton, a decrease of 4.77% compared to 6248 yuan/ton on September 28th before the holiday; On October 6th, the price of ethylene glycol was 3957.5 yuan/ton, a decrease of 2.28% compared to 4050 yuan/ton on September 28th before the holiday.
With the decline in PTA and ethylene glycol prices after the Double Festival holiday, downstream color polyester fiber products such as polyester filament, polyester staple, polyester chips, and polyester bottle chips have all experienced a decline, with polyester bottle chips experiencing the largest decline, polyester filament experiencing the smallest decline, and polyester staple fibers experiencing a mid range decline of 1.81%. From the price changes in the polyester industry chain where polyester staple fibers are located before and after the National Day holiday, the decline gradually narrowed from top to bottom, reflecting the different supply and demand structures of downstream products that support prices.
Silver Ten's poor performance at the beginning, weak prices and low gross profit
Looking back at the price changes of polyester staple fibers, Silver Ten had a poor start and prices weakened. Let's take a look at the graph below, which shows the price trend of polyester staple fibers in 2023. From the graph, it can be seen that the prices of polyester staple fibers continued to decline in October 2023. As of October 19th, the average was 7471 yuan/ton, a decrease of 2.88% month on month and 4.05% year-on-year.
