Futures market: this week (1.30-2.3), the main force of short fiber futures closed down in shock. The main contract of short-fiber PF futures closed at 7320 on Friday, down 4.89% from last week’s closing price. The settlement price is 7312 yuan. This week, the main domestic staple fiber upstream raw material PTA futures fell 3.62% to 5638, and the main ethylene glycol futures fell 6.18% to 4222.

Spot price: the spot price of domestic polyester staple fiber was stable this week (1.30-2.3). According to the price monitoring of the Business Agency, on February 3, the average price of domestic polyester staple fiber was about 7652 yuan/ton, almost the same as Monday’s price, up 1.78% from the same period last year.

Russian crude oil exports remained at a high level in January due to the sharp increase in imports of crude oil from Asian countries to Russia. The EIA reported on Wednesday that the US crude oil supply increased by 4.1 million barrels last week, and the Federal Reserve announced a 25 basis point increase in interest rates as expected. International oil prices fell under pressure this week. The main force of American oil futures fell 7.9% to close at USD 73.39 per barrel for the whole week. The fall of crude oil price has weakened the support for PTA cost. Recently, some PTA devices have been restarted, the terminal resumption is slow, the starting load is low, the PTA inventory continues to accumulate, and the futures price is lower. After the festival, some devices of staple fiber were restarted, and the downstream cotton mills and weaving mills resumed their operations slowly. The operations were still at a low level and only sporadic purchases were needed. The staple fiber enterprises accumulated stocks, and the staple fiber futures fell along with the cost. However, staple fiber enterprises are optimistic about the recovery of future demand, and the spot price is stable. This week, the trading atmosphere of the yarn market has gradually recovered. With the recovery of logistics and downstream acceptance capacity, the delivery of the yarn factory is gradually normal. The trading atmosphere of pure polyester yarn and polyester cotton yarn market has gradually recovered, and the prices of various grades of yarn have increased to different degrees compared with that of the year before.

In the future, the cost support of staple fiber raw materials is weak, the supply of devices is gradually restarted and increased after the festival, and the recovery of demand in the downstream market is uncertain, and the staple fiber may continue to accumulate. It is expected that the short-term staple fiber price will follow the weak oscillation in the upstream. Pay attention to the price trend of raw materials, plant dynamics and downstream resumption.