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Home - News - Costs are Loosened, Price of Staple Fiber Futures in the Chinese Market has Fallen from a High Level (February 9)

Costs are Loosened, Price of Staple Fiber Futures in the Chinese Market has Fallen from a High Level (February 9)

February 10, 2022

Futures market: On February 9, the main contract of PF futures closed at 7750, down 2.74% from yesterday's settlement price, and the settlement price was 7798; the trading volume was 138525 lots; Domestic polyester staple fiber raw material futures all closed down today, PTA fell 2.27%, and ethylene glycol fell 4.77%.

Spot price: On February 9, the average price of domestic polyester staple fiber spot market quotation was 7822 yuan/ton, up 4.04% from last week and 15.06% year-on-year.

Analysis: In terms of cost, the United States expressed its willingness to reach a relevant agreement with Iran. Iran will supply more than 1 million barrels of oil to the market per day, and oil supply is expected to increase. Overnight, WTI New York crude oil CFD fell 2.04% to close below 90. Several units of ethylene glycol restarted during the Spring Festival, and Zhenhai Refinery was put into operation at the end of January, and the supply increased significantly. In addition, many installations are planned to be put into production, and the long-term market supply pressure is relatively large. In addition, the port arrival at the port during the Spring Festival of ethylene glycol was smooth, and the port inventory also increased. PTA's accumulative inventory increased in February, but its raw material PX spot is tight, and the cost support is strong. The increase in the staple fiber industry chain after the link is too high, but the downstream follow-up is slow, and the spot price of staple fiber is relatively stable.

Prediction: In the short term, in terms of raw materials, the international crude oil price is easily affected by factors such as the geopolitical situation in Russia and Ukraine, energy tension in Europe and other factors, and the cost of staple fiber has strong support. In the future, staple fiber may still follow cost price fluctuations.