Price Trend: The Spot Price Of Polyester Staple Fiber Period Bottomed Out In June And Rebounded Weakly

1、 Price trend

According to the price monitoring of business agency, the domestic spot price of polyester staple fiber rebounded in June and closed higher at the end of the month. As of June 30, the average price of domestic polyester staple fiber spot market was 7081 yuan / ton, 1.87% higher than the price of 6951 at the beginning of June, and 6.78% higher than that at the beginning of June. The prices of mainstream manufacturers generally increased by 100-150 yuan / ton.

In the futures market, the main staple fiber Futures (2109) closed at 7194 on June 30, up 222, or 3.18%, from 6972 in May. In June, the international oil price fluctuated all the way, almost showing a unilateral upward trend. By the end of the month, New York crude oil futures closed up 9.61%, staple fiber raw material PTA followed the rise of crude oil price, and the main futures of staple fiber raw material ethylene glycol futures closed down 1.58% this month.

Although June is the traditional off-season of polyester staple fiber, with the rising cost of raw materials, the continuous increase of short fiber unit maintenance in June led to the decline of production capacity. In addition, the epidemic affected the partial return of orders in Southeast Asia, the domestic production and sales of polyester staple fiber were better than expected, and the spot price rebounded in June.

2、 Factors affecting prices

1. PTA: the domestic spot market price of PTA rose along with the crude oil price in June. As of June 30, the average price of spot market was 5101 yuan / ton, which was 8.65% higher than that at the beginning of the month and 43.53% higher than that at the beginning of the month. In June, the focus of crude oil price continued to move upward, driving the downstream commodity prices to rise, and PTA cost support strengthened. The downstream polyester weaving market started in June due to the influence of order backflow, which was higher than expected. PTA plant maintenance was more in June, while it is expected to be more in summer. The short-term PTA market presents a trend of de stocking.

2. Ethylene glycol: in June, the domestic spot market price of ethylene glycol recovered from the bottom, and the price at the end of the month was almost the same as that at the beginning of the month. As of June 30, the average spot market price was 5016 yuan / ton, a slight increase of 0.52% compared with the beginning of the month, and a year-on-year increase of 36.19%. Although crude oil shocks stronger this month, ethylene prices and coal prices are weak. The ethylene glycol port inventory increased slightly this month, and the operation of domestic units changed a lot this month. The plant was overhauled and restarted, and new units were put into operation.

3. Polyester yarn: in June, the domestic polyester yarn market fluctuated narrowly and the price remained stable. As of June 30, the average market price of polyester yarn was 14100 yuan / ton, which was the same as that at the beginning of the month, with a year-on-year increase of 7.96%. With the advent of summer, the textile market ushered in the traditional off-season. At present, the overseas situation is not clear, backflow orders are difficult to sustain, and the release of domestic demand is slightly insufficient. In late June, the autumn fabric spot transaction increased month on month, and the fabric batch trial order in early winter increased slightly, and the overall market transaction will show a trend of concussion and small rise.

3、 Future forecast

Business agency analysts believe that the international oil price rose in June, PTA upstream, ethylene glycol with the rise. Short fiber plant maintenance and downstream affected by the epidemic situation in Southeast Asia, some orders returned, domestic staple fiber production and sales and prices rebounded. In the future, summer is still the traditional off-season of the industrial chain, and the reflux orders in Southeast Asia are also unstable. If the crude oil remains strong and the unit maintenance is balanced, the short-term polyester staple fiber may show a strong oscillation trend.