1、 Price trend
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According to the price monitoring of the business agency, the domestic spot price of polyester staple fiber showed a stable trend this week (12.4-12.11). As of December 11, the average price of domestic polyester staple fiber spot market was 5728 yuan / ton, which was the same as last Friday, with a year-on-year decrease of 17.44%. A few manufacturers have slightly increased their prices. In the futures market, the staple short fiber Futures (2105) closed higher at 6228 on December 11, up 136, or 2.3%, from 6092 on Friday. Crude oil shock higher and PTA shock rebound driven polyester staple fiber futures rebound, raw materials and futures rebound led to spot production and sales rebound, but affected by demand constraints, polyester staple fiber spot is difficult to continue to strengthen.
2、 Factors affecting prices
1. PTA: domestic PTA spot market rebounded slightly this week. At the end of this week, the average price of domestic PTA spot market was 3498 yuan / ton, up 2.07% compared with last Friday, and decreased by 28.26% year on year. Crude oil prices rose on the back of oil production cuts announced by oil producing countries, the positive news of the new crown vaccine and the bomb attack on oil wells in Kirkuk Province, Iraq. Crude oil rose, cost support enhanced, boosting PTA price rebound.
2. Ethylene glycol: the domestic ethylene glycol spot market rose this week. At the end of this week, the average ex factory price of oil to ethylene glycol in North China was 3883 yuan / ton, up 1.76% from last Friday and down 22.85% year on year. Due to the planned overhaul of Fude energy plant, port inventory in the main port area of East China decreased, crude oil went up, costs rose and glycol prices rebounded. However, downstream chemical fiber weaving market gradually into the off-season, production and sales fall, glycol or re-appear accumulation, market downward pressure increases.
3. Polyester yarn: the domestic polyester yarn market is running smoothly this week. At the end of this week, the average spot price of 32S polyester yarn in Jiangsu, Zhejiang and Shanghai was about 13375 yuan / ton, which was the same as last week, with a year-on-year decrease of 7.25%. The downstream market prepared goods for the new year, but the orders for the shopping festival were gradually completed, the follow-up orders were weak, the start-up of looms declined, the polyester yarn market was stable and weak, the quotation of vortex spinning was stable, the spot sales without orders was also gradually weakened, and the inventory of polyester yarn enterprises was higher than before.
3、 Future forecast
Business agency analysts believe that the recent shock rise in crude oil, good market production and sales, upstream raw material prices strong support for costs. However, the downstream market “double 11″ and “double 12″ orders gradually entered the traditional off-season, the new orders were not good, the polyester yarn mill inventory was high, and the weaving start-up rate decreased. After the hot spot production and sales of staple fiber, the inventory level rose, and the short-term follow-up purchasing enthusiasm may weaken, and the wait-and-see mood increases. It is expected that the future staple fiber spot market will enter the accumulation stage, and if the spot price is not driven by futures, there may be a downward trend. However, the current trend of crude oil is strong, short-term fiber futures or continue to show a strong oscillation trend.
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