Futures market: This week (2.20-2.24), the main force of staple fiber futures closed up in a narrow range of shocks. The main contract of short-fiber PF futures closed at 7278 on Friday, up 2.97% from last week’s closing price. The settlement price is 7258 yuan. This week, the main domestic staple fiber upstream raw material PTA futures rose 3.68% to 5638, and the main ethylene glycol futures rose 3.77% to 4354.
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Spot price: the spot price of domestic polyester staple fiber fell slightly this week. According to the price monitoring of the Business Agency, the average price of domestic polyester staple fiber was about 7372 yuan/ton on February 24, down 1.21% from Monday’s price and 5.61% from the same period last year.
Most central banks around the world have not completed tightening monetary policy, which may reduce the future demand for crude oil. However, the EIA reported on Thursday that (as of the week of February 17) the US gasoline inventory decreased by 1.9 million barrels, while the sharp decrease in gasoline inventory represented strong demand. The main force of American oil futures fell 0.3% and closed at US $76.32 per barrel this week. In the near future, PTA plant production reduction and maintenance increased slightly, the terminal resumed work actively, the commencement gradually increased, the PTA supply and demand margin improved, and the price rose slightly. In the near future, ethylene glycol society and port stocks are high, and the expected maintenance load of devices is increasing, and the downstream recovery drives the price of ethylene glycol to rebound slightly. In the near future, the start of staple fiber has rebounded slightly, and the start of downstream yarn mills and weaving mills has gradually recovered. The terminal orders have warmed up, and the staple fiber enterprises have gone to stock slightly, and the staple fiber futures prices have risen slightly along with the cost.
In the future, the cost support of staple fiber raw materials is acceptable, the downstream yarn mills and weaving mills are actively resuming work, and the staple fiber enterprises are cautiously optimistic about the recovery of future demand, but the sustainability of the follow-up needs to be observed. It is expected that the short-term staple fiber price will oscillate with the cost. In the future, we will focus on the price trend of raw materials and the recovery of terminal orders.
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