Since February of this year, the price center of domestic polyester staple fiber has been moving downward, and the factory price has been mainly negotiated. According to the monitoring of the Business Society, the average ex-factory price was 7393 yuan/ton as of March 14, down 3.38% from February 1, down 9.49% year on year. At the supply side, the current Fujian Jinlun restart device discharge, with the improvement of the starting trend, the supply increased slightly.
Cost support weakened. The collapse of the Silicon Valley Bank in the United States caused the market to worry about financial risks. The decline of the stock market exacerbated the decline of crude oil prices. As of March 14, international crude oil futures fell sharply. The settlement price of the main contract of WTI crude oil futures in the United States was US $71.33/barrel, and that of Brent crude oil futures was US $77.45/barrel. PTA followed the decline of crude oil. On March 14, the domestic PTA spot market price was 5750 yuan/ton. In addition, the PTA unit load was slightly increased, and the current industrial commencement was increased to more than 74%, with a small increase in supply, which caused a certain drag on the price.
Downstream demand for maintaining rigidity is obvious, while speculative demand is still insufficient. New orders received by cotton mills and cloth mills may have seasonal improvement. The orders are mainly small and short orders. Some customers actively purchase, and the willingness to replenish has increased.
Analysts from the Business News Agency believe that the polyester staple fiber maintenance device has been gradually restarted, and the supply pressure in March remains. Affected by the weakening of crude oil, the lower reaches are cautious and have a strong wait-and-see attitude, but the market still has a positive attitude towards the terminal demand expectation. In general, the short term volatility of staple fiber prices is weak.
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