In August, the price of domestic polyester staple fiber showed a volatile downward trend. According to the price detection of business agency, the average price of domestic polyester staple fiber spot market on August 31 was 7726 yuan / ton, down 2.93% from 7960 at the beginning of the month, up 8.93% year-on-year. In the futures market, at the end of the month, the main short fiber contract closed at 7468 (settlement price 7438), up 0.73% from the beginning of the month.
| PVA |
The main reason for the weak trend of polyester staple fiber in August is still the weak cost and weak demand: the expectation of important progress in the negotiation of Iran nuclear agreement and the market’s concern about economic recession put pressure on the prospect of crude oil demand. In August, the international crude oil price fluctuated and weakened, and WTI crude oil fell 9.4% to close at 89 US dollars per barrel (as of 17:35, August 31, Beijing time). The drop in oil price dragged down the price of PTA and ethylene glycol, the raw materials of the upstream of short fiber, and the PTA period and spot month fell by 5.18% and increased by 1.99% respectively. Ethylene glycol futures and spot fell by 7.93% and 8.30% respectively. There are many short fiber maintenance devices in this month, and the inventory pressure is small. However, the new production capacity of xinfengming at the end of this month and the subsequent supply pressure will gradually increase with the completion of maintenance. In this month, the temperature is still high, the industry is still in the off-season, the downstream operation rate is low, and the demand and foreign trade continue to be weak. However, with the decrease of temperature at the end of the month, some cities relax power restrictions, the downstream operation rate has increased, and the demand has improved slightly.
Business analysts believe that the global economic recession worries and the next short-term oil price may still be not optimistic, and the cost side support of polyester staple fiber is weakened. In September, the textile terminal may gradually turn to the peak season, and the startup rate is expected to pick up, and the demand may improve. With the restart of the unit after overhaul and the landing of new production capacity, the supply pressure of staple fiber may increase in September. With the arrival of the traditional peak season of the industry, it is expected that the polyester staple fiber will be stable and strong in September.
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