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SunSirs: The Spot Price of Polyester Staple Fiber has Fluctuated Weakly in the Past Week

April 09 2021 09:01:06     SunSirs (Linda)

Spot price: According to SunSirs price monitoring, the domestic staple fiber price was 7018 yuan on April 8, down 1.47% from last week.

Futures market: On April 8, the PF2105 contract futures price closed at 6918, down 1.93% from the previous trading day, and the settlement price was 6,974 yuan; the trading volume was 116,465 hands; the open position was 82,068 hands, with a basis of -18. The domestic polyester industry chain futures closed down one after another. The upstream PTA of the industry chain fell 2.97%, and the ethylene glycol fell 2.19%.

Analysis and prediction: International oil prices fluctuate, and the industrial chain PTA, ethylene glycol, and staple fiber have rebounded slightly since last week. The accumulated rebound of the PTA in the previous period was relatively large, and the magnitude of today's callback was also relatively large. Ethylene glycol also lacks the momentum to continue its upward trend, and it pulled back today. The price of staple fiber has fallen sharply since March, downstream spinning mills and trade intermediaries have made up low positions, and staple fiber has rebounded recently. However, the downstream orders have not seen a significant improvement, the willingness to replenish goods has weakened, and the wait-and-see sentiment is strong. Today, the price of staple fiber fell after a weak rebound. Looking at the market outlook, short-term polyester staple fiber accumulation pressure is still, or still weak and fluctuating. However, in the medium term, after the inventory is slowly depleted, with the advent of a new round of downstream purchasing cycles, the downward momentum of polyester staple fiber will weaken, and crude oil is expected to usher in a rebound when stable.

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