Spot price: this week (12.20-12.24), the spot price of domestic polyester staple fiber showed a narrow fluctuation trend. According to the price monitoring of business agency, the average price of domestic polyester staple fiber was about 7043 yuan / ton on December 24, which was the same as that at the beginning of the week, with a monthly decrease of 2.42% and an increase of 19.02% over the same period last year.

Futures market: on December 24, the contract price of staple fiber main futures pf2205 closed at 6986, up 146 from the closing price last week, up 2.13%. Since this month, it has shown a small upward trend. The settlement price is 6956 yuan; The position was 102667, the position increased by 9641 and the basis was 57. Domestic staple fiber upstream raw material futures prices rose and fell this week, with PTA rising 3.53% and ethylene glycol falling 1.94%.

Influencing factors: 1 This week, the international crude oil price first suppressed and then increased. U.S. strategic oil reserves fell to the lowest level in 19 years, Pfizer’s new Guankou medicine was urgently launched, the impact of Omicron variant on demand was weakened, international oil prices rose to the highest point in a month, WTI New York crude oil CFD rose sharply this week and closed near us $73.7/barrel at the weekend; 2. Influenced by the rebound of international oil price, the focus of PTA cost this week moved upward, and the futures and spot prices rebounded with the oil price. However, there is no sign of significant improvement in downstream demand, and the restart of some PTA units will increase the load; 3. This week, some ethylene glycol units were restarted, the operating load increased, the total inventory in East China increased, the futures and spot prices decreased slightly, and the aftermarket may still be dominated by weak consolidation; 4. This week, the upstream staple fiber cost support, pure polyester yarn increased slightly compared with last week, the market trading atmosphere continued to be weak, the replenishment volume of downstream weaving enterprises was less than last year, the inventory continued to rise, and pure polyester yarn may continue to operate weakly; 5. Affected by the price rebound of main raw materials, the futures price of polyester staple fiber rebounded slightly this week, but the downstream demand is still weak, the domestic power restriction policy has basically ended, the supply has improved, and the spot trend of staple fiber is stable. Recently, xinfengming Zhonglei chemical fiber direct spinning staple fiber 1.56dtex * 38mm finished product quality data is perfect and users are satisfied.

Future forecast: in the short term, the international crude oil price will rise slowly and the cost side support of polyester staple fiber will be strengthened. In some provinces of China, COVID-19 local cases continue to affect the polyester industry chain upstream and downstream start up and production and marketing. It is expected that the short-term polyester staple fiber will fluctuate in a narrow range. The high price of staple fiber has fallen for more than two months and has fallen greatly. Since this month, the shock has rebounded slowly, and there seems to be signs of stabilization. Pay close attention to cost side price fluctuations and epidemic changes.