Spot price: 12.20-12.24 The spot price of domestic polyester staple fiber fluctuated within a narrow range. According to the price monitoring of the business agency, the average price of domestic polyester staple fiber was about 7043 yuan/ton on December 24, which was the same as the beginning of the week, down 2.42% month-on-month and up 19.02% year-on-year.
Futures market: On December 24, the main staple fiber futures PF2205 contract futures price closed at 6986, an increase of 146 or 2.13% from the closing price of last week. Since the beginning of this month, there has been a trend of volatility and small gains. The settlement price was 6956 yuan; the open interest was 102,667, and the open interest increased by 9641, with a basis of 57. Last week, domestic staple fiber upstream raw material futures prices were mixed, with PTA main force rising 3.53% and ethylene glycol main force falling 1.94%.
Influencing factors: 1. International crude oil prices first fell and then rose. The U.S. Strategic Petroleum Reserve fell to its lowest level in 19 years, Pfizer’s new crown oral drug made an emergency debut, the Omi Keron variant weakened the impact on demand, international oil prices rose to the highest point in a month, WTI New York crude oil CFD surged last week and closed at 73.7 over the weekend Near the US dollar/barrel; 2. Last week, the PTA cost was affected by the rebound in international oil prices and the center of gravity shifted upward, and the futures and spot prices rebounded with the oil price. However, there are no signs of significant improvement in downstream demand. The restart of some PTA devices will increase the load; 3. Part of the ethylene glycol plant restarted last week, the start-up load increased, the total inventory in East China increased, and the futures and spot prices fell slightly, and the market outlook may still be weak. 4. Last week, the upstream staple fiber cost supported pure polyester yarn compared with last week. Slightly rising, the market trading atmosphere continued to be weak, downstream weaving companies' replenishment volume was lower than last year, inventory continued to climb, pure polyester yarn may continue to run weakly; 5. Last week, polyester staple fiber futures prices rebounded slightly due to the rebound of main raw material prices , But the downstream demand is still weak, the domestic electricity curtailment policy has basically ended, and the supply has improved, and the short fiber spot trend has been stable. Recently, Xinfengming Zhonglei chemical fiber direct-spun staple fiber 1.56dtex*38mm finished product quality data is perfect, and users are satisfied.Outlook forecast: In the short term, international crude oil prices slowly rebound, and polyester staple fiber cost support will increase. The continuous emergence of local cases of the new crown epidemic in some provinces in China has affected the start-up and production and sales of the upstream and downstream of the polyester industry chain. The short-term polyester staple fiber is expected to fluctuate in a narrow range. Staple fiber prices have fallen from their highs for more than 2 months and have fallen sharply. Since the beginning of this month, the price of staple fiber has slowly recovered, and there seems to be signs of stabilization. Pay close attention to price fluctuations on the cost side and changes in the epidemic situation.Related listed companies: Hengyi Petrochemical (000703), Sinopec (600028), Sanfangxiang (600370), West China (000936), Xinfengming (603225), Jiangnan Gaoxian (600527), etc.
