Price trend
Futures market: the main force of polyester staple fiber futures rose in shock this week (1.9-1.13). The main polyester staple fiber PF futures contract closed at 7,278 RMB/ton on Friday, up 4.66% from last week's closing price. The settlement price was 7,194 RMB/ton. PTA futures, the main domestic polyester staple fiber upstream raw material, rose 4.77% to 5,580 RMB/ton this week, while ethylene glycol futures rose 6.38% to 4,368 RMB/ton.
Spot price: The spot price of domestic polyester staple fiber fell slightly this week. According to the price monitoring of SunSirs, the average price of domestic polyester staple fiber was around 7,282 RMB/ton on January 13, down 0.41% from Monday and up 0.19% from the same period last year.
Analysis review
The CPI data released by the United States over the weekend showed that its core inflation fell in December and the dollar weakened. The United States may soon replenish its strategic crude oil reserves. The relaxation of global anti-epidemic measures and the expectation of economic re-opening and strong rebound in demand led to the continuous rise of international crude oil futures this week. US WTI crude oil futures closed the week up 8.3% and closed near 79.86 US dollars per barrel. The rise of oil price drove the price of the whole polyester industry chain up. Recently, the number of PTA devices restarted increased, and the supply of PTA increased. PTA prices continued to rise this week driven by the sharp rise in crude oil.
As the Spring Festival approached, a large number of cotton mills and weaving mills had been shut down for holidays recently, and the terminal construction continued to decline sharply. Enterprises were not willing to prepare goods before the festival, and orders were scarce. The support for polyester staple fiber was limited. The starting level of polyester staple fiber factory during the Spring Festival is relatively high, about 70%, and the enterprise inventory may gradually accumulate.
Market outlook
According to the analysts of SunSirs, the cost of staple fiber has risen recently, the downstream is on holiday, and the stock of staple fiber is not large. After the year, the start of centralized procurement may lead to a wave of small volume trading. It is expected that the price of staple fiber will fluctuate to be stronger after the year. In the future, pay attention to the price trend of crude oil and the commencement of the industrial chain.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com