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SunSirs: Demand Fell, China's Polyester Staple Fiber Fell Slightly

November 23 2020 09:39:49     SunSirs (Linda)

1. Price Trend

According to SunSirs price monitoring, the domestic spot price of polyester staple fiber dropped slightly last week. As of November 20, the average domestic spot market price of polyester staple fiber was 5,738 yuan/ton, down 0.34% from November 14 and down 17.05% year-on-year. In the futures market, the main staple fiber futures (2105) on November 20 closed up and closed at 6006. The rebound in crude oil and PTA led to a rebound in futures, and the decline in downstream demand led to weak spot trends.

2. Factors affecting prices

1) PTA: The domestic PTA spot market rebounded slightly last week. Last weekend, the average domestic PTA spot market price was 3273 yuan/ton, down 30.95% year-on-year. Crude oil prices will rise due to news that OPEC may postpone the current scale of production cuts to the first quarter of next year. PTA prices rose within a narrow range driven by rising crude oil.

2) Ethylene glycol: The domestic ethylene glycol spot market dropped slightly last week. Last weekend, the average ex-factory price of oil-based ethylene glycol in North China was 3634 yuan/ton, down 23.1% year-on-year. The supply rebounded due to the addition of domestic equipment and the restart of overhaul equipment. At the same time, the downstream chemical fiber market has gradually entered the off-season, and production and sales have fallen. Ethylene glycol has reappeared after a month of downsizing, and the price drop is expected to increase.

3) Polyester yarn: The domestic polyester yarn market operated smoothly last week. Last weekend, the average spot market price of 32S polyester yarn in Jiangsu, Zhejiang and Shanghai was around 13,375 yuan/ton, down 7.03% year-on-year. The yarn market in Hangzhou, Suzhou and Jiaxing is generally good. Some companies have lowered their quotations and lower profit margins. The downstream weaving market stocks for the New Year, but the demand in the later period is insufficient, and polyester yarn runs weakly.

3. Outlook

SunSirs analysts believe that under the dual influence of the end of the "Double Eleven" market and the aggravation of the overseas epidemic, the downstream spinning and weaving markets have reduced domestic and foreign orders. In the short term, it is difficult for the polyester staple fiber spot market to have a good market. Continue to fall weakly. It is expected that before the Spring Festival, the polyester industry chain as a whole will continue to decline. However, the current crude oil and PTA rebounded on the positive news, and short-term short-term fiber futures may show a strong oscillation trend.

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