Spot price: On December 23, the average price of domestic polyester staple fiber spot market quotations was 7051 yuan/ton, a small increase of 0.36% from the same period last week and a year-on-year increase of 19.97%. The actual transaction in East China was around RMB 6,900/ton.
Futures market: On December 23, the PF2205 contract futures price closed at 6868, a 0.82% increase from yesterday’s settlement price, and the settlement price was 6840; the trading volume was 103,891 lots; Domestic polyester staple fiber raw material futures closed mixed today. PTA main force rose 1.43%, and ethylene glycol main force fell 0.21%.
Analysis: The U.S. Strategic Petroleum Reserve fell to its lowest level in 19 years, and Pfizer's new crown oral drug made an emergency debut. The overnight oil price closed up. WTI New York crude oil CFD rose by 2.46%. Oil prices rebounded overnight, and the PTA cost center moved upward to follow the rebound. However, there are no signs of significant improvement in downstream demand. Ethylene glycol is expected to restart more equipment or gradually accumulate the warehouse, the market is still under pressure, and the weak is mainly consolidated. Recently, the trading atmosphere in the pure polyester yarn market has continued to be weak, and the replenishment volume of downstream weaving companies is not as good as last year, the inventory continues to rise, and the cotton yarn continues to run weakly. The domestic electricity curtailment policy has basically ended, and the supply of polyester staple fiber has improved in the near future. Recently, Xinfengming Zhonglei chemical fiber direct-spun staple fiber 1.56dtex*38mm finished product quality data is perfect, and users are satisfied.
Forecast: Looking at the market outlook, the price of polyester staple fiber may fluctuate strongly in the short term due to the rebound in the price of upstream raw materials. Pay close attention to price fluctuations on the cost side and changes in the epidemic situation.
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