Spot price:
This week (9.10-9.17), the spot price of domestic polyester staple fiber increased slightly, and the transaction volume rebounded slightly. According to the price monitoring of SunSirs, the average price of polyester staple fiber in East China on September 17 was around 7,151 yuan/ton, an increase of 0.94% from last week and a year-on-year increase of 29.15%. Most manufacturers have raised their quotations by about 50-300 yuan/ton.
Futures market:
The futures price of the main short fiber futures PF2201 contract closed at 7032 on September 17, an increase of 214 from last week. An increase of 3.14%. Almost regained the ground lost last week. The settlement price is 7,050 yuan; the trading volume is 728,160 lots; the position is 127,526, and the basis difference is 119. Domestic polyester industry chain futures were mixed this week, with PTA rising by 3.90% and ethylene glycol rising by 3.45%.
Analysis:
1. International crude oil prices fluctuated higher this week. The storm hit Texas and Louisiana again, and crude oil production in Texas and Louisiana was slow to resume, and API crude oil and refined oil inventories fell;
2. PTA prices rose this week due to dual control production restrictions and equipment maintenance;
3. The price of ethylene glycol continued to rise this week due to the production cuts of some coal chemical companies;
4. The new orders received by pure polyester yarn companies this week were obviously lower than expected, and low-count yarns were overstocked. , the price fell slightly;
5. This week, the cost of polyester staple fiber raw materials increased, equipment maintenance increased, supply shrank, inventory fell, and current short fiber futures prices rebounded.
Forecast: The early trend of polyester staple fiber has continued to be sluggish, and the industry has entered a state of loss and has rebounded in the near future. The peak season for the textile and apparel industry may be approaching in the market outlook, and polyester staple fiber may still have upward momentum in the short term. Pay attention to the impact of crude oil PTA trends and demand on dual control policies.
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