Opening snapshot
China’s polyester filament market recorded a decisive upside move in the week ended July **, ****, breaking the softer pricing trend that had dominated since late June. TexPro data show Domestic China FDY (Fully Drawn Yarn) **D/**F, ***D/**F and ***D/**F prices increasing between *.** per cent and *.** per cent over the week. The rally was driven by a sudden surge in feedstock costs rather than an improvement in downstream demand. Iranian tanker attacks in the Strait of Hormuz on Tuesday triggered a sharp rise in crude oil prices, sending higher costs rapidly through the polyester value chain while downstream textile demand remained subdued.
Key price movement
The price surge began on Tuesday, July **. FDY **D/**F opened the week at *,*** CNY/mt (~$*,***/mt), climbed to *,*** CNY/mt (~$*,***/mt) on Tuesday and closed at *,*** CNY/mt (~$*,***/mt) on Friday, gaining *** CNY/mt (~$**/mt), or *.** per cent, over the week. FDY ***D/**F followed an almost identical pattern, rising from *,*** to *,*** CNY/mt (~$*,***/mt) on Tuesday before holding that level through Friday, up *.** per cent.
