Spot price: this week (7.9-7.15)), 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 8276 yuan / ton on July 15, down 2.93% from last week and up 14.71% from the same period last year.
| PVA |
Futures market: this week, the main force of short fiber futures showed a downward trend. The main contract of staple fiber pf futures closed at 6754 on Friday, down 12.01% from the closing price of last week. The settlement price is 6808 yuan. This week, the main domestic staple fiber upstream raw material PTA futures fell 15.30% to close at 5224, and the main ethylene glycol futures fell 6.64% to close at 4177.
Influencing factors: 1 Worries that the global economic recession may curb fuel demand and the rebound of the epidemic, coupled with the impact of the strengthening of the US dollar exchange rate, extended the decline in international crude oil prices this week. This week, USOC fell by more than 8% and closed above $96 a barrel on Friday (as of 17:05 Beijing time). 2. PTA prices fell sharply this week, dragged down by the sharp decline in upstream crude oil and PX, as well as the decline in downstream polyester production and pessimistic demand. 3. Under the continuous loss of ethylene glycol this week, the maintenance plan increased, the commencement fell, and the supply and demand pattern is expected to ease. Although the price of ethylene glycol is lower driven by the cost, the disk surface is stronger than PTA and staple fiber. 4. Dragged down by the sluggish demand and the sharp decline in costs, the main force of short fiber futures continued to fluctuate and fall from the highest level of 9168 on June 10. This week, it broke down again, and short fiber spot also significantly retook its previous increase. However, at present, spot delivery is still tight, and the trend of spot is stronger than that of futures.
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. There may be replenishment demand in the downstream after the continuous decline of prices. Polyester staple fiber is expected to be weak and stable in the short term. Pay attention to the price of raw materials, downstream demand, epidemic situation, etc.
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