From January to July 2022, the polyester staple fiber spot market fluctuated frequently. The market experienced 5 complete rounds of rise and fall, but the overall situation continued to fluctuate and decline. However, it is worth noting that from late July to August 5, although the market demand for polyester staple fiber was weak and the supply pressure continued; however, boosted by the centralized maintenance of multiple sets of PTA equipment, the spot price of polyester staple fiber fell during this period compared with the previous period. Slightly narrower.
Since the beginning of 2022, the short fiber spot market has continued to fluctuate and decline. As of August 5, the average spot price of short fiber closed at 7,560 yuan/ton, and the average spot price so far this year is 7,968 yuan/ton, which is still a huge increase of 1,094 yuan/ton compared with the same period last year, an increase of 15.92%. Although the market price of polyester staple fiber continued to fall during the year, the average price still rose significantly compared with the same period. The most fundamental reason is that the cost support during the year was strong.
Since the beginning of the year, the market peak has been 9,145 yuan/ton, which occurred from June 9th to June 10th. The direct driving force for the peak appearance during this time period is that cost support is strong at this time, and the aggregate cost has increased by 250-300 yuan/ton compared with the previous period.
During this period, the market trough occurred on January 4, at 7,020 yuan/ton. The main reason for the low prices at the beginning of the year is that the demand is weak towards the end of the year. Faced with high prices, the downstream yarn market is more cautious and passive in accepting goods, and the market trading volume is poor.
However, it is worth noting that from late July to August 4, the decline in the polyester staple fiber market narrowed compared with the previous period. What caused this?
According to Longzhong Information, from late July to early August, although the polyester staple fiber market demand was weak and the supply situation continued; however, thanks to the recent continued maintenance of multiple sets of PTA equipment, some of the neutralization was lost. Negative. Recent PTA maintenance updates are detailed in the table below:
Recent statistics on new production capacity in the polyester staple fiber industry
Unit: 10,000 tons
So far, the main reasons why PTA maintenance has been relatively concentrated recently are: first, unplanned maintenance of PX increased from June to July, and second, the back-end support was insufficient. Recently, the operating load of polyester market has dropped from 84.65% to 80.65%, a decrease of 4 percentage points. However, after the polyester load continued to decline, the profits of some products have been restored to a certain extent, and now the current load has risen again to 81.12%.
Although the recent decline in the polyester staple fiber spot market has slowed down slightly, in the future, the trend of increasing supply and decreasing demand in the industry will continue, with production capacity to be released within the month reaching 375,000 tons; coupled with macro negative factors continuing, the current spot price of polyester staple fiber is supported Factors are hard to find. Taken together, it is expected that the short-term spot price of polyester will most likely continue to bottom out in the near future, and spot processing fees are also expected to continue to narrow.
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