Spot price: This week (11.14-11.18), the spot price of domestic polyester staple fiber fell in shock. According to the price monitoring of the business community, the average price of domestic polyester staple fiber was about 7572 yuan/ton on November 18, down 1.69% from Monday and up 3.84% from the same period last year.
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Futures market: the main force of short fiber futures ended lower in shock this week. On Friday, the main contract of short fiber PF futures closed at 6976, down 3.33% from the closing price last week. The settlement price is 6920 yuan. This week, the main domestic staple fiber upstream raw material PTA futures fell 0.52% to close at 5388, and the main ethylene glycol futures fell 1.50% to close at 3877.
Influenced by the pressure of global economic growth, the hawkish remarks made by the Federal Reserve and the OPEC announcement to reduce the global crude oil demand forecast in 2022, the international crude oil futures prices fell in a volatile manner this week. The main force of US oil futures fell 8.22% for the whole week and closed near US $81.55 per barrel (as of 16:36 on the 18th Beijing time). The fall in crude oil price has weakened the support for PTA cost. The high inventory of polyester plants in the downstream will not be changed. Large factories will carry out a new round of joint production reduction, which will significantly drag down the demand for PTA. The accumulation of PTA may increase significantly. With the expected production in the later period, PTA will have a weak trend this week. Recently, the new capacity of ethylene glycol has been released, the downstream demand remains sluggish, and the market trend of ethylene glycol is under pressure. In the near future, the supply of staple fiber has increased slowly, the factory has accumulated stock, and the demand of downstream yarn mills is weak. Buying is cautious. This week, staple fiber is shipped at a discount, and the price has fallen back. The trading of pure polyester yarn and polyester cotton yarn market did not improve significantly this week, the price continued to adjust in a weak trend, and the trading center continued to decline. The merchants negotiated to sell the goods, and the overall stock removal was slow.
In the future, the support of raw material cost has weakened recently, the supply of staple fiber has increased slowly, and the downstream demand is weak, so the short-term staple fiber price may show a weak oscillation trend. Pay attention to raw material price trend, plant dynamics and downstream orders.
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