1、 Price trend
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According to the price monitoring of the business agency, the domestic spot price of polyester staple fiber has been stable this week. As of November 27, the average price of domestic polyester staple fiber spot market was 5738 yuan / ton, which was the same as last Friday’s price, with a year-on-year decrease of 16.30%. A few manufacturers have slightly increased their prices. In the futures market, on November 27, the staple short fiber Futures (2105) closed higher at 6096, up 90% or 1.5% from last Friday. The rise of crude oil and PTA rebound led to the rebound of polyester staple fiber futures, and the rebound of futures led to a sharp recovery of spot production and sales. However, affected by demand constraints, the spot polyester staple fiber is difficult to continue to strengthen.
2、 Factors affecting prices
1. PTA: domestic PTA spot market rebounded slightly this week. At the end of this week, the average price of domestic PTA spot market was 3341 yuan / ton, which was 1.35% higher than last Friday and 30.37% lower than that of last Friday. Crude oil prices rose due to the positive effects of new crown vaccine and OPEC + is expected to further maintain the current over scale production reduction news. High crude oil cost support enhanced, boosting PTA price rebound.
The domestic spot market of ethylene glycol rose this week. At the end of this week, the average ex factory price of oil to ethylene glycol in North China was 3805 yuan / ton, up 4.75% from last Friday and down 20.73% year on year. Inner Mongolia Rongxin and Taiwan’s two units have been short of maintenance supply, crude oil is high, the cost is rising, and the price of ethylene glycol rebounds. However, downstream chemical fiber market gradually into the off-season, production and sales fall, glycol or re-appear accumulation, market downward pressure increased.
3. Polyester yarn: the domestic polyester yarn market is running smoothly this week. At the end of this week, the average price of 32S polyester yarn spot market in Jiangsu, Zhejiang and Shanghai was about 13375 yuan / ton, which was the same as last week, with a year-on-year decrease of 7.03%. The downstream market prepared goods for the new year, but the orders for the shopping festival were gradually completed, the follow-up orders were weak, the loom started to decline, and the inventory of polyester yarn enterprises increased month on month.
3、 Future forecast
Business agency analysts believe that the recent continuous rise in crude oil, good market production and sales, upstream raw material prices to form a strong support for costs. However, the downstream market “double 11″ and “double 12″ orders gradually entered the traditional off-season, the new orders were not good, the polyester yarn mill inventory was high, and the weaving start-up rate decreased. After the hot spot production and sales of staple fiber, the inventory level rose, and the short-term follow-up purchasing enthusiasm may weaken, and the wait-and-see mood increases. It is expected that the future staple fiber spot market will enter the accumulation stage, and if the spot price is not driven by futures, there may be a downward trend. However, the current crude oil continued to rebound, short-term fiber futures or continue to show a strong oscillation trend.
| EDTA |