Spot price: In the past week (1.11-1.18), the spot price of domestic polyester staple fiber has fluctuated within a narrow range. According to the price monitoring of SunSirs, the average price of domestic polyester staple fiber on January 18 was around 7,360 yuan/ton, an increase of 1.49% from the same period last week, a monthly increase of 4.74%, and an increase of 15.33% from the same period last year.
Futures market: On January 18, the main short fiber futures contract closed at 7534, an increase of 260 or 3.57% from the closing price of the same period last week. Since the beginning of December last year, it has shown a slight rebound trend. The settlement price is 7,454 yuan, and the basis difference is -174. Last week, domestic short fiber upstream raw material futures prices rose, with PTA rising by 3.10% and ethylene glycol falling by 4.12%.
Influencing factors: 1. International crude oil prices rose after fluctuating over the past week. Geopolitical tensions have resurfaced, global supply is tight, the impact of the Omicron variant on demand has weakened, Brent oil has reached an 8-year high, and WTI New York crude oil CFD is now closing at around US$84.7/barrel; 2. PTA costs have been affected by international pressure in the past week The impact of the rebound in oil prices has shifted upward. Both futures and spot prices have rebounded with oil prices. Recently, the operating rate of equipment has declined slightly. However, restarts and new production equipment are expected to increase. The demand side is also weak, and the upward pressure on PTA is not small; 3. Oil prices in the past week The rising cost of ethylene glycol has also provided some support for ethylene glycol costs. Recently, several sets of ethylene glycol units have been shut down for some reason, and the operating rate has declined. Inventories at the main port in East China have declined. In the short term, ethylene glycol may be relatively volatile; 4. Pure polyester yarn in the past week The market situation generally reflects a wait-and-see attitude, and the stocking mentality is decreasing, but the price center of gravity remains stable and firm. The transaction volume in the polyester and cotton yarn market is not large, and the prices of individual varieties continue to rise; 5. In the past week, affected by the rebound in raw material prices, polyester short Fiber prices have rebounded, and the production and sales atmosphere has also strengthened. Recently, logistics and labor have been affected by the epidemic control, and the start-up of polyester staple fiber equipment has declined.
Market outlook: In the short term, international crude oil prices continue to rise, close to the high point in October last year, and polyester staple fiber cost-end support has increased. The continuous emergence of local cases of the new coronavirus epidemic in some domestic provinces has affected the start-up, production and sales of the upstream and downstream polyester industry chain. The Double Festival is approaching, and many textile companies have taken holidays in advance. It is expected that polyester staple fiber will show a strong trend in the short term. Pay attention to cost-side price fluctuations, changes in the epidemic situation, and work stoppages and holidays.
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