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SunSirs: The Price of Polyester Staple Fiber Fell This Week due to Sluggish Demand (August 15-19)

August 23 2022 09:42:16     SunSirs (John)

Price trend

Spot price: This week (8.15-8.19)) the spot price of domestic polyester staple fiber fluctuated and fell slightly. According to the price monitoring of SunSirs, the average price of domestic polyester staple fiber was quoted at around 7,785 RMB/ton on August 19, down 0.43% from Monday and up 8.02% from the same period last year.

Futures market: This week, staple fiber futures showed a volatile rebound trend. The main contract of staple fiber PF futures closed at 6,950 RMB/ton on Friday, down 5.98% from last week's closing price. The settlement price was 7,006 RMB/ton. This week, domestic staple fiber upstream raw material PTA futures fell 5.40% to close at 5,324 RMB/ton, while ethylene glycol futures fell 5.59% to close at 3,903 RMB/ton.

Analysis review

International crude oil futures prices fluctuated down slightly this week. The maintenance and production reduction of PTA equipment increased, the downstream construction increased slightly but the overall level remained low, PTA continued to go to the warehouse, cost dragged down, and PTA prices fell slightly. Several sets of ethylene glycol units were restarted, the load rebounded slightly, the downstream production and sales were still insufficient, the ethylene glycol port went out of storage slightly, and the price fell slightly.

The downstream demand for pure polyester yarn and polyester-cotton yarn continued to be sluggish, and the price was stable and weak. Consolidation and negotiation, some spinning mills start work for three days and stop for four days or have high temperature holidays. The short fiber pre-maintenance equipment was restored, and the Fujian Jingwei equipment was planned to be overhauled. The downstream spinning mills and weaving mills were still in the off-season, and the start-up was still at a low level, the demand had not improved significantly, and the stock of staple fibers had accumulated. Affected by the weakening of upstream raw materials, the trend of staple fiber market was weak this week.

Market outlook

Looking at the market outlook, staple fiber cost support is weak, downstream demand is sluggish, spot supply is expected to decline but overall sufficient, staple fiber prices may still show a weak oscillation trend in the short term, but there may be a rebound near the lows of the year.

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