Futures market: on January 20, the main pf futures contract closed at 7516, down 0.40% from yesterday’s settlement price, and the settlement price was 7554; The trading volume is 130554 hands; The position was 116171, the position decreased by 750, and the basis was – 31. Domestic polyester staple fiber raw material futures closed mixed today, with PTA down 0.63% and ethylene glycol up 0.39%.

Spot price: according to the price monitoring of business agency, the average price of domestic polyester staple fiber spot market on January 20 was 7485 yuan / ton, up 2.98% from last week and 16.08% year-on-year. East China’s firm offer was around 7250 yuan / ton.

Analysis: in terms of cost, the U.S. stock market fell sharply, IEA reported cooling to the excited crude oil market, and WTI New York crude oil CFD fell 1.00% overnight. Some PTA units are expected to restart, and the new unit is planned to be commissioned. The supply is expected to increase, and the PTA price decreases slightly. In terms of demand, the overall production and sales of the factory declined slightly and the atmosphere weakened.

Forecast: in the short term, geopolitical tensions reappear, global supply is tight, the impact of Omicron variant on demand is weakened, crude oil is easy to rise but difficult to fall, and short fiber cost support is strong. However, the downstream spinning and weaving demand is still expected to be weak, and the upward space of staple fiber is limited. Staple fiber market is short-term or strong in shock.