Price trend

Spot price: This week (9.13-9.16) the spot price of domestic polyester staple fiber rose slightly. According to the price monitoring of SunSirs, on September 16, the average price of domestic polyester staple fiber was around 7,926 RMB/ton, an increase of 1.39% over last week and an increase of 10.84% over the same period last year.

Futures market: This week, staple fiber futures opened higher and fluctuated within a narrow range. The main contract of staple fiber PF futures closed at 7,508 on Friday, up 0.56% from last week's closing price. The settlement price was 7,470 RMB/ton. This week, the main force of domestic staple fiber upstream raw material PTA futures fell 0.25% to close at 5,668 RMB/ton, and the main force of ethylene glycol futures fell 0.78% to close at 4,430 RMB/ton.

Analysis review

This week, international crude oil futures prices fluctuated downward slightly due to news such as the Fed's continued aggressive interest rate hike policy expectations, and US oil prices fell 1.57% for the week (as of 17:05 Beijing time). Recently, the PTA unit continued to be repaired and stopped to reduce the load. The supply and demand of raw material PX was tight and the price was firm, the downstream construction was gradually increasing, PTA continued to destock, and the spot price was strong.

Due to the impact of the typhoon, the port inventory of ethylene glycol fell sharply. The traditional peak season in the downstream is coming, the operating rate has rebounded, the delivery of goods has increased, and the spot price of ethylene glycol has risen slightly.

The overall demand for pure polyester yarn and polyester-cotton yarn has improved slightly, and the spot transaction has improved compared with the previous period. The overall load of staple fiber factories has decreased recently, and the supply has decreased. The downstream spinning mills and weaving factories have shifted from the off-season to the peak season, and the demand has improved. The current and futures prices of staple fibers have risen slightly.

Market outlook

From the perspective of the future, the cost of staple fiber still has strong support, and the downstream demand is gradually improving. In terms of spot, Yizheng Chemical Fiber has a device to reduce production recently, but the new production capacity of Xinfengming and some large factories may restart after the completion of maintenance, supply is under pressure. The price of staple fiber may show a strong oscillating trend in the short term. Pay attention to the trend of raw materials and the recovery of downstream orders.

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