Cost Boost, Polyester Staple Fiber High Open Up!
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According to the price monitoring agency, on May 5, the average quoted price of domestic polyester staple fiber spot market was 8322 yuan/ton, up 3.70% compared with the previous trading day, up 19.86% year-on-year. May 5th main domestic short fiber futures contract closed at 8104 in the morning, up 2.50% from the previous day's settlement price, today's settlement price was 8092. Staple fiber raw material futures closed up today, PTA main up 2.27%, ethylene glycol main up 2.83%.
The news that the European Union plans to impose a strict ban on Russian oil imports, the May Day holiday international oil prices recorded the biggest increase in three weeks, PTA, glycol following the rebound. PTA plant is stable in holiday, expected plant restart is less than maintenance. Due to logistics factors, some ethylene glycol factories are expected to undergo maintenance, but the inventory is still high and the pressure of destocking is great.
Due to the impact of epidemic prevention and control during the holiday, staple fiber shipments in some areas of Jiangsu are tight. Recently, some staple fiber devices are ready to restart, and the overall supply is expected to increase. Recently, the domestic epidemic has been gradually controlled, the state to ensure the smooth flow of logistics actively promote the resumption of production and a series of policies, polyester chain logistics has been slowly restored, terminal weaving is also gradually recovering, some enterprises began to fill a small number of warehouses, the overall transaction slightly improved, staple fiber rose today.
Business analysts believe that in the short term, in the oil price is firm, demand is expected to pick up polyester staple fiber is expected to shock strong trend. We need pay close attention to the situation in Russia and Ukraine, the control of the epidemic and changes in raw material prices.
Source: Business Society
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