According to the price monitoring of business agency, on May 25, the average quotation price of domestic polyester staple fiber spot market was 8592 yuan / ton, up 0.12% from the previous trading day and 23.74% year-on-year. Today, the main contract of domestic staple fiber futures closed at 8294 in the morning, up 0.90% from the settlement price of the previous trading day, and the settlement price today was 8284. Staple fiber raw material futures closed mixed today, with PTA up 1.21% and ethylene glycol down 1.38%.

Boosted demand and tight supply, US oil hit the $111 / barrel mark today, and WTI’s main crude oil futures rose about 1% today to close near $110.8/barrel (as of 16:10). Since May, PX supply and demand has remained tight, and strong costs have driven PTA to close up slightly today. Recently, ethylene glycol inventory has accumulated, the downstream demand is poor, and the trend of ethylene glycol is sluggish. The strength of crude oil and PTA strongly supports the cost of staple fiber. However, due to the repeated outbreaks in many places and the return of foreign trade orders to Southeast Asia, the demand for textile terminals is still not ideal, and the inventory of yarn mills continues to accumulate.

Business analysts believe that the recent crude oil shock is relatively strong, and the cost side support of polyester staple fiber is strong. At the end of May, some staple fiber units were restarted and new production capacity was put into operation, and the supply is expected to increase. On the whole, polyester staple fiber is expected to be relatively strong in the short term.