Spot price: according to the price monitoring of business society, the quotation of domestic staple fiber on April 21 was 6993 yuan, down 0.36% from last week.
Futures market: on April 21, the futures price of the pf2107 contract closed at 6992, down 3.40% from the previous trading day, with a settlement price of 7028 yuan; the trading volume was 238205; the position was 93093, with a basis of 1. Domestic polyester industry chain futures closed down today, with glycol down 2.75% and PTA down 1.39%.
Analysis: international oil prices fell, polyester chain PTA, staple fiber rebounded slightly last week, ethylene glycol fell. PTA rebounded last week, this week a small callback. Ethylene glycol fell this week after a brief stabilization last week. After the price of staple fiber fell sharply in March, downstream mills and trade middlemen actively filled their positions at a low level. Coupled with the sharp rise of crude oil in early April, staple fiber rebounded slightly in early April. However, there is still no obvious improvement in downstream orders, with strong wait-and-see sentiment and weak buying. Today, the price of staple fiber is weak and fluctuated.
Forecast: in the future, the international oil price will be adjusted, the downstream demand will be insufficient, and the short-term accumulation pressure of polyester staple fiber will still be in, or will still be weak and volatile. However, in the medium term, downstream orders are expected to pick up. After the inventory is slowly consumed, the kinetic energy of polyester staple fiber decline will weaken, and there may be a possibility of stabilizing and rebounding under the condition of stable crude oil.
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