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Polyester staple fiber News
SunSirs: Cost Was Down, Polyester Staple Fiber Was Sluggish (September 19-23)
September 27 2022 08:53:14SunSirs(John)

Price trend

Spot price: This week (9.19-9.23) the spot price of domestic polyester staple fiber rose slightly. According to the price monitoring of SunSirs, the average price of domestic polyester staple fiber on September 23 was about 7,985 RMB/ton, an increase of 0.63% from last week and an increase of 11.39% from the same period last year.

Futures market: staple fiber futures fell slightly this week. The main contract of staple fiber PF futures closed at 7,344 RMB/ton on Friday, down 2.18% from last week's closing price. The settlement price was 7,446 RMB/ton. This week, domestic staple fiber upstream raw material PTA futures fell 2.65% to close at 5,518 RMB/ton, while ethylene glycol futures fell 1.35% to close at 4,370 RMB/ton.

Analysis review

This week, international crude oil futures prices fell sharply mainly due to the continued aggressive interest rate hike policy by the Federal Reserve. The main US oil price fell 6.60% this week and closed at 79.38 US dollars per barrel. Recently, the operating rate of PTA was at a high level, and the inventory was at a high level. Although downstream demand improved, the overall demand was still weak. The sharp drop in oil prices on the cost side also dragged down PTA, and PTA futures prices fell. The operating rate of ethylene glycol rebounded this week, but the overall level remained low, downstream demand was tepid, dragged down by the sharp drop in oil prices, and ethylene glycol futures weakened. The staple fiber plant in Sanfangxiang is ready to be restarted after the overhaul, and the overall short fiber load is expected to increase. The operating rate of downstream spinning mills and weaving mills did not change much recently, and the demand for staple fibers remained low. Affected by the weakening of upstream raw materials, the trend of staple fiber futures was weak this week.

Market outlook

Looking at the market outlook, the cost of staple fiber has weakened recently, and downstream demand still shows no obvious signs of improvement. After the summer is over, large factories may be restarted after the overhaul, supply is under pressure, and the price of staple fiber may fluctuate weakly in the short term. Pay attention to the trend of raw materials and the recovery of downstream orders.

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