For the Quarter Ending March 2025
North America
In Q1 2025, the North American Polyester Staple Fiber (PSF) market exhibited a bearish price trend, despite an initial upward movement in January and February. In January, PSF prices surged, driven by strong demand from key sectors like textiles and home furnishings, alongside rising import prices due to anticipated US port strikes and logistical challenges. This momentum continued into February, supported by rising production costs and tight supply conditions. However, concerns over trade tensions and tariff impacts led to cautious procurement behavior, limiting significant price increases.
In the late quarter, a notable downturn began as a result of ample inventory levels and weak consumption in the downstream textile sector. Prices fell sharply, influenced by reduced demand and falling prices in the textile industry. Despite stable supply and logistics conditions, including lower ocean freight rates, the lack of significant recovery in demand led to further price declines.
The month ended with a 5.5% drop in the US, bringing PSF prices down to USD 1200/MT CFR Texas. This marked a clear shift from the early-quarter upward trend, confirming the overall bearish sentiment for Q1 2025 in the North American market.
Europe
In Q1 2025, the overall Polyester Staple Fiber (PSF) market in Europe, exhibited a bearish price trajectory, despite initial gains in January and February. In early Q1, prices surged, buoyed by logistical disruptions due to holiday-related port congestion, labor shortages, and vessel delays, which constrained imports. Simultaneously, steady demand from the textile and automotive sectors, coupled with low feedstock costs, upheld market sentiment. In the late month, import constraints from Asian market, driven by rising feedstock prices and plant maintenance activities, supported a continued upward trend. Anticipation of shipping delays ahead of the Lunar New Year spurred restocking efforts, boosting prices. In February, the bullish momentum waned as post-holiday production recovery in China ensured ample supply, stabilizing prices. Despite steady demand, subdued polyester futures and cautious procurement behavior, owing to macro uncertainties, tempered price movement. The late part of Q1 marked a notable downturn, with bearish sentiment dominating. A combination of ample inventories, muted downstream demand, and lower freight costs weakened import prices. The imposition of US tariffs on Chinese goods curtailed Chinese exports, leading to inventory overhangs and intensified global oversupply. Additionally, port strikes in Hamburg and Bremerhaven disrupted logistics, compounding challenges. Thus, March concluded with a clear decline in PSF prices, confirming the overall bearish trend for Q1 2025. In the German market, prices ended the quarter at USD 1158/MT CFR Hamburg, marking a 3.3% decline compared to the end of the previous quarter.
APAC
During Q1 2025, the Polyester Staple Fiber (PSF) market in the Asia-Pacific region experienced a mixed yet overall bearish pricing trend. In early January, PSF prices climbed due to a surge in upstream PTA costs, triggered by supply tightness amid maintenance turnarounds. Concurrently, demand improved as overseas buyers advanced purchases ahead of the Lunar New Year, adding upward pressure. Inventory drawdowns also supported prices, despite weak loom operating rates. In February, PSF prices remained stable initially as the market gradually recovered after a post-holiday. However, as PSF plant operating rates improved, surpassing levels from the previous year—supply rebounded strongly. Meanwhile, downstream demand from textile mills stayed muted. Producers temporarily maintained stable prices as feedstock cost declined. By late February, the market turned bearish due to slow destocking, limited new orders, and subdued buying interest. In March, the downtrend persisted. Although manufacturing activity showed a slight post-holiday recovery, weak demand from the weaving sector and cautious procurement prevented any price rebound. Continued cost deflation in upstream materials further undermined pricing support. Additionally, market sentiment was weighed down by ongoing geopolitical tensions and uncertainty around proposed U.S. tariffs on Chinese imports, which dampened export enthusiasm. Overall, the Chinese market saw notable fluctuations, ending Q1 2025 with a 1.5% price decline from the end of previous quarter, settling at USD 950/MT FOB Shanghai.
For the Quarter Ending December 2024
North America
The North American Polyester Staple Fiber (PSF) market experienced a consistent decline throughout Q4 2024, influenced by weak demand, economic uncertainties, and external market dynamics.
In the early part of Q4, the market faced downward pressure as low-cost imports from Asia, particularly China, surged due to reduced feedstock prices like PTA. North American demand remained moderate, while robust supply from consistent imports and high inventory levels in Asia weighed on prices. Additionally, the ongoing ILA Port Strike disrupted supply chains, deterring buyers from stockpiling due to high freight charges and limited downstream activity.
Midway through the quarter, the PSF market exhibited marginal price fluctuations. While stable production levels and moderate feedstock costs provided some support, the influx of cheap imports and subdued demand from sectors like textiles and nonwoven applications kept the market under pressure.
By early December, the market's bearish trend deepened, driven by weak downstream demand, limited feedstock cost support, and geopolitical tensions impacting crude oil prices. Inflationary pressures and weak retail sales further strained the textile sector. Consequently, PSF prices in the U.S. market fell by 5.6%, reflecting the broader challenges facing the region.
Europe
The European Polyester Staple Fiber (PSF) market faced an overall declining trend throughout Q4 2024, influenced by weak demand, competitive imports from Asia, and economic uncertainties. In early Q4, a drop in PTA prices in China and high inventories in Europe exerted downward pressure on prices, despite a brief rebound fuelled by increased demand during India’s festive season. Oversupply from Asia, subdued domestic demand, and cautious consumer sentiment contributed to the bearish market sentiment. Marginal declines persisted in the mid-quarter as high inventories, reduced procurement, and weak consumer confidence outweighed stable feedstock prices and seasonal factors. By the final part of Q4, the downward trend deepened due to falling crude oil prices, limited feedstock cost support, and sluggish demand from the textile sector. Competitive Asian imports and elevated inventory levels in Europe further intensified market pressure. Consequently, PSF prices, particularly in the German market declined by 6.7% during the quarter, settling at USD 1,198/MT CFR Hamburg, reflecting the impact of oversupply and a challenging economic environment.
Asian Pacific
The Asian Pacific Polyester Staple Fiber (PSF) market witnessed an overall declining trend throughout Q4 2024, primarily driven by weak demand, high inventory levels, and fluctuating feedstock dynamics. In early Q4, the Chinese PSF market faced a 2% price drop as PTA prices rose slightly, while PX prices declined steadily. This imbalance, coupled with oversupply from increased production and weak domestic demand in the textile sector, created a bearish market sentiment. Overseas demand, particularly from India, offered limited support but was insufficient to offset the declining trend. Mid-quarter, the market continued its downward trajectory, as stable manufacturing activity was overshadowed by weak downstream demand and ample supply. Lower production costs, aided by declining PTA prices and stable MEG costs, encouraged cautious pricing strategies among manufacturers, but persistent oversupply and logistical disruptions kept prices under pressure. By the end of Q4, the seasonal demand lull exacerbated the bearish trend, with downstream textile industries scaling back operations. Limited foreign trade orders for home textiles failed to reverse the decline, leading to an overall price drop of 8.79% in the Chinese market during the quarter.
For the Quarter Ending September 2024
North America
Throughout Q3 2024, PSF prices in the North American market experienced a notable decline. This downward trend was primarily driven by low import costs, fluctuating raw material prices, and limited offtake from downstream sectors. The interplay of these factors created a challenging pricing environment for producers.
In the USA, where the most significant price changes occurred, PSF prices fell by 4% compared to the previous quarter. The market exhibited seasonal fluctuations and a clear correlation between price movements and demand dynamics. Specifically, there was a marked decrease in prices from the first to the second half of the quarter, reflecting persistent challenges within the market. In contrast, prices were up by 2% compared to the same quarter last year, indicating some resilience in the overall pricing structure.
As the quarter concluded, the price of Polyester Staple Fiber (PSF) in the USA reached USD 1,301/MT CFR Texas. This figure underscores the prevailing negative pricing environment and highlights the ongoing pressure on market values.
APAC
The third quarter of 2024 saw a notable decline in Polyester Staple Fibre (PSF) prices throughout the APAC region, marking a significant shift in market dynamics. The -1.6% year-on-year change underscores a persistent downward trend, further compounded by a quarter-on-quarter decrease of -1.5%. Additionally, a remarkable -5% drop between the first and second halves of the quarter illustrates a consistent negative trajectory that has raised concerns among industry. Several key factors have contributed to this downturn in prices. Chief among them is the subdued demand from critical end-user industries, particularly in textiles and construction. Coupled with challenging global shipping conditions, which have restricted trade flows and escalated logistics costs, these elements have created a perfect storm for pricing pressures. In China, the market experienced the most significant price fluctuations, reflecting broader regional trends and heightened volatility. The combination of weakened consumer demand and logistical disruptions has created a challenging environment for suppliers. By the end of the quarter, the price for PSF stood at USD 1058/MT (Spot) Ex-Zhejiang, highlighting the prevailing bearish sentiment in the market.
Europe
In Q3 2024, the Polyester Staple Fibre (PSF) market in Europe faced a period of declining prices due to several significant factors. A substantial influx of lower-cost imports from Asian markets led to oversupply and intense pricing pressure across the region. Compounding this situation was weakened demand resulting from sluggish downstream industries and elevated inventory levels, which further contributed to the downward trend in PSF prices. Germany, as a major market, experienced the most pronounced price fluctuations during this time. The quarter recorded a notable 3.7% decrease in PSF prices compared to the previous quarter, highlighting the challenging market conditions. Despite this decline, prices rose by 4.8% compared to the same month last year, indicating some resilience in the market. Additionally, the 5% difference between the first and second halves of the quarter reinforced the consistent downward pricing trajectory. By the end of the quarter, PSF prices in Germany stood at USD 1,285/MT CFR Hamburg, reflecting a persistently negative pricing environment. Overall, the quarter was characterized by a substantial decrease in PSF prices, underscoring a challenging and bearish market sentiment.
For the Quarter Ending June 2024
North America
In the second quarter of 2024, the North American Polyester Staple Fiber (PSF) market demonstrated stability in pricing, driven by balanced supply and demand dynamics and consistent feedstock costs. The market remained largely stable with minimal volatility, influenced by macroeconomic factors and logistical considerations. The harmonious equilibrium between production levels and market demand, coupled with steady crude oil prices that kept raw material costs (particularly PTA and MEG) stable, contributed to this stability.
Within the USA market, PSF prices showed some fluctuations but remained relatively stable overall. Compared to the same quarter last year, there was a modest 5% increase in PSF prices, reflecting gradual demand growth and inflationary pressures. However, the quarter-on-quarter change from Q1 2024 was only 2%, indicating a steady market trajectory.
Throughout these dynamics, consistent downstream demand from textile and automotive sectors supported the stable pricing environment. The quarter concluded with PSF priced at USD 1453/MT CFR Texas in the USA, underscoring the prevailing stability observed throughout Q2 2024.
Europe
In the Q2 2024, the Polyester Staple Fiber (PSF) market in Europe demonstrated a notably stable pricing environment, supported by well-balanced supply and demand dynamics. This stability was primarily influenced by steady feedstock prices, with Purified Terephthalic Acid (PTA) prices remaining unchanged and a decline observed in Mono Ethylene Glycol (MEG) prices. Despite volatility in the international crude oil market, which typically impacts costs, PSF prices showed limited movement. High ocean freight rates also contributed to buyer caution in stockpiling, thereby maintaining a steady procurement pace.
Germany, as a focal point within Europe, witnessed the most significant price fluctuations in the PSF market. Despite these variations, overall trends remained stable due to reduced downstream demand influenced by seasonal factors and broader economic conditions such as inflation affecting consumer spending. Comparing year-on-year, prices increased by 7%, indicative of inflationary pressures, while quarter-on-quarter changes showed a modest 2% uptick, indicating a slight upward trend. Within the quarter, prices remained stable without significant variance between the first and second halves, highlighting ongoing market stability.
The Q2 2024 pricing environment for PSF in Germany was characterized as stable, maintaining equilibrium amid external pressures. Closing at USD 1423/MT CFR Hamburg, prices reflected consistent market sentiment driven by balanced supply chains, cautious purchasing behavior, and stable feedstock costs. This stability ensured the PSF market navigated the quarter steadily, unaffected by broader economic uncertainties.
APAC
In the second quarter of 2024, the APAC region experienced a significant increase in Polyester Staple Fiber (PSF) prices, driven by several key factors shaping market dynamics. Firstly, international crude oil prices rose due to geopolitical tensions and OPEC+ production cuts, impacting feedstock costs such as Mono Ethylene Glycol (MEG) and Purified Terephthalic Acid (PTA), which fluctuated accordingly. Particularly, MEG prices surged due to supply constraints, exacerbated by logistical challenges including high marine freight charges and port congestion.
Demand dynamics also played a critical role, with increased procurement from downstream industries contributing to the upward price trend. The global economic recovery post-pandemic stimulated textile demand, further boosting PSF requirements. Seasonal factors like festive periods additionally fueled consumer spending, reinforcing market sentiment.
South Korea, experiencing the most significant price fluctuations, demonstrated a strong correlation between rising feedstock prices and PSF costs. Despite seasonal and logistical challenges, prices rose consistently. Compared to the same quarter last year, PSF prices increased by 6%, with a quarter-on-quarter rise of 2.5%.
As Q2 2024 concluded, the pricing environment for PSF in South Korea was notably bullish, closing at USD 1152/MT CFR Busan. This upward trajectory reflects a market influenced by heightened cost pressures and recovering demand, marking a period of distinct price escalation.
