Spot price: this week (7.4-7.8)), the spot price of domestic polyester staple fiber showed a unilateral downward trend. According to the price monitoring of the business agency, the average price of domestic polyester staple fiber was about 8526 yuan / ton on July 8, down 2.10% from the beginning of the week and up 17.5% from the same period last year.

Futures market: this week, the main force of short fiber futures showed a volatile downward trend. The main contract of staple fiber pf futures closed at 7676 on Friday, down 1.41% from the closing price of last week. The settlement price is 7676 yuan. This week, the main force of PTA futures of domestic staple fiber upstream raw material fell 1.88% to close at 6168, and the main force of ethylene glycol futures rose 2.92% to close at 4474.

Influencing factors: 1 This week, the international crude oil price showed a trend of shock and sharp decline. Concerns that the global economic recession may curb fuel demand exceeded fears of supply disruptions, and international oil prices extended their decline this week. This week, USOC fell nearly 6% and closed near $102 a barrel on Friday (as of 17:30 Beijing time). 2. PTA spot tightness eased this week, downstream demand was weak, and both upstream PX and crude oil fell, dragging down PTA prices. 3. Ethylene glycol price rebounded weakly after continuous decline this week. Recently, the supply of ethylene glycol has contracted under the continuous loss, and many units have announced maintenance or production conversion plans, and the supply and demand pattern has eased periodically. 4. This week, polyester staple fiber continued to break down after briefly stabilizing in the early stage. In addition to the decline of upstream crude oil and PTA prices and the weakening of cost support, the supply is expected to increase this month, and the demand for the traditional off-season start-up of downstream mills and weaving mills is also weakening.

Future forecast: under the expectation of global economic recession, the short-term oil price may continue to fall, and the cost side support of polyester staple fiber will weaken. The United States is discussing the abolition of tariffs on China, and downstream demand may be expected to pick up. It is expected that polyester staple fiber will be weak and stable after continuous decline. Pay attention to the changes in raw material prices, the adjustment of U.S. tariff policies, the situation in Russia and Ukraine, and the epidemic situation.