Crude Oil Rises For Five Consecutive Days

According to price monitoring, the domestic spot price of polyester staple fiber has been strong this week (1.29-2.5). As of February 5, the average price of domestic polyester staple fiber spot market was 6590 yuan / ton, which was 3.67% higher than last Friday's price of 6357, down 7.5% year-on-year. Most manufacturers have raised their prices by 200-400 yuan / ton. In the futures market, on February 5, the staple short fiber Futures (2105) closed higher at 6776, up 158, or 2.39%, from 6618 on Friday. This week, the international oil price rose for five consecutive days, driving the prices of staple fiber raw materials PTA and glycol to rise significantly. The cost has been raised, the number of plant shutdown and maintenance increased, the downstream stock, polyester staple fiber period spot show a significant increase. However, affected by the Spring Festival holiday, the actual market transactions decreased, polyester staple fiber before the festival or showed a stable trend.

Since the new year of 2021, crude oil and PTA continue to rise, significantly supporting the cost of polyester staple fiber. With the end of the downstream stock up, polyester market gradually entered the vacation stage, the actual market transactions were lack, the market before the festival or the trend was stable, industry insiders were more optimistic about the supply and demand of the market after the festival. Before the Spring Festival, affected by the increasing risk aversion sentiment in the market, the price rise space of polyester staple fiber is afraid to be limited. However, at present, the crude oil market is still in a strong trend, and the recovery of demand in peak season after the Spring Festival can still be expected, and the short-term polyester staple fiber may continue to show a strong oscillation trend.