After The Spring Festival, The Spot Price Of Polyester Staple Fiber Increased By More Than 16%

According to price monitoring, after the Spring Festival (2.11-2.26), the spot price of domestic polyester staple fiber rose sharply. As of February 26, the average price of domestic polyester staple fiber spot market was 7931 yuan / ton, 16.67% higher than that before the Spring Festival, and 14.43% higher than that before the spring Festival. All manufacturers' quotations have been greatly increased by 1000-1200 yuan / ton. In the futures market, the main short fiber Futures (2105) closed at 8362 in the morning on February 26, up 1218, or 17.05%, from 7144 before the Spring Festival. During the Spring Festival, the international oil price fluctuated and soared, which led to a sharp rise in the prices of staple fiber raw materials PTA and glycol. The cost rose sharply, the plant was shut down for maintenance, the downstream stock was prepared after the festival, and the polyester staple fiber period spot showed a significant increase. However, due to the lack of full-scale operation after the festival, although the production and sales continued to be in large volume, most of them were arbitrage by the current merchants. The downstream factories had sufficient stock, and the enthusiasm of high price purchasing was not high. Polyester staple fiber may have short-term adjustment demand.

2、 Factors affecting prices

1. PTA: after the Spring Festival, the domestic spot market of PTA period showed a sharp rise trend. On February 26, the average price of domestic PTA spot market was 4730 yuan / ton, which was 17.30% higher than before the Spring Festival and 7.96% higher than that before the Spring Festival. During the Spring Festival, affected by the cold wave, US crude oil production decreased, institutions raised oil price expectations, and crude oil rebounded strongly, breaking a new high in nearly 13 months, which enhanced support for PTA costs. Downstream polyester, weaving enterprises have resumed work, demand recovery is more optimistic. In the later stage, we need to pay attention to the situation of OPEC + meeting, and it is expected that the short-term PTA price oscillation will be strong.

2. Ethylene glycol: after the Spring Festival, the domestic ethylene glycol futures spot market has increased significantly. On February 26, the average ex factory price of oil to ethylene glycol in North China was 6050 yuan / ton, which was 25.61% higher than before the Spring Festival and 34.44% higher than that before the Spring Festival. During the Spring Festival, the United States suffered from extreme weather, many units were accidentally shut down, resulting in the supply side tightening, international oil prices, ethylene glycol prices continued to rise. Domestic market after the festival downstream demand situation is also more optimistic, ethylene glycol spot price soared, coal glycol profits highlight, manufacturers increase production load. At present, the market sentiment is positive, still bullish in the short term.

3. Polyester yarn: after the Spring Festival, many pure polyester yarn enterprises raise their prices, and "rise" sound. At the end of this week, the average spot price of 32S polyester yarn in Jiangsu, Zhejiang and Shanghai was about 14933 yuan / ton, up 5.41% compared with before the Spring Festival and 2.81% higher than that before the Spring Festival. As of February 25, the price of Weifang runfengda textile pure polyester yarn rose sharply, with the price of 32S pure polyester yarn of 15000 yuan / ton, increased by 1000 yuan / ton compared with that before the Spring Festival; the quotation of Weifang Guanjie textile pure polyester yarn rose sharply, with 32S pure polyester yarn quotation of 15000 yuan / ton, increased by 1000 yuan / ton compared with that before the Spring Festival; the quotation of Weifang Honghua textile pure polyester yarn rose slightly, with 32S pure polyester yarn quoted at 14800 yuan / ton, compared with the price before the Spring Festival The price of Suzhou Textile Co., Ltd. in Nantong increased by 300 yuan / ton in February. As of the 25th, the price of 32S pure polyester yarn reached 15000 yuan / ton, 1200 yuan / ton higher than that in January; the price of Delida textile in Gaoyi County was also increased by 1100 yuan / ton compared with that before the Spring Festival.

3、 Future forecast

In the future, analysts believe that crude oil and PTA continue to rise since the Spring Festival in 2021, which has obvious support for the cost of polyester staple fiber. However, the short-term increase has increased the risk of market adjustment. The downstream weaving enterprises are cautious in placing orders, making more inquiries, and the orders have not improved significantly. For short-term crude oil in the future market, the situation of OPEC + meeting on March 4 should be paid attention to, and PTA should pay attention to the maintenance and commissioning of new units. Short term polyester staple fiber may be slightly adjusted. Caution is recommended.