According to the price monitoring of the business agency, on June 2, the average price of domestic polyester staple fiber spot market was 8588 yuan / ton, down 0.05% from the previous trading day and up 23.69% year-on-year. The main contract of domestic staple fiber futures closed at 8246 in the morning, down 1.46% from the settlement price of the previous trading day, and the settlement price today was 8250. Short fiber raw material futures closed down today, with PTA main force down 0.53% and ethylene glycol main force down 0.24%.
The international oil price corrected overnight and continued its decline today. US oil fell nearly 2%, hitting a four-day low of US $113 / barrel. As the sixth round of EU sanctions against Russia failed to pass as scheduled, and the Biden government expressed that it still hopes to contact Saudi Arabia, the market will take this as a concrete measure for the government to actively reduce energy costs. Pay special attention to the results of the OPEC ministerial meeting this evening. The decline of oil price dragged down the polyester industry chain, and PTA, ethylene glycol and staple fiber all fell today. PTA unit load decreased and continued to be removed from the warehouse. Recently, the price continued to be adjusted at a high level and the downstream was cautious. The supply and demand of ethylene glycol have improved recently, but the surplus expectation is difficult to change. Short fiber supply is expected to increase in the near future. The startup rate of pure polyester yarn in Jiangsu and Zhejiang markets declined, and the downstream maintained the focus on just needed procurement. The enterprise’s shipping psychology was dominant, and the transaction was negotiated on a preferential basis. Affected by the epidemic blockade and economic downturn, the demand recovery of terminal fabric garment industry is difficult in the short term.
It is expected that the short-term polyester staple fiber will show a strong trend of shock under the support of strong cost.
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