SunSirs: International Crude Oil Was Rising Strongly, and Polyester Staple Fiber Factories Had a Strong Mentality of Raising Prices

https://www.chemnet.com   Jun 19,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic polyester staple fiber market remained stable on June 13th, with an average price of 1.4D * 38mm at 7,696 RMB/ton, which was unchanged from the previous trading day. The prices quoted by mainstream short fiber factories remained unchanged, but actual transactions can be negotiated. Traders adjusted their prices upward slightly. The prices quoted by mainstream brands in East China ranged from 7,400 to 7,500 RMB/ton, and market transactions were rare.

Analysis review

As of the 18th, the inventory of polyester staple fiber factories was low, and there was a strong attitude of price support, resulting in a tight supply of first-hand goods for traders. International crude oil had risen strongly. As of June 17th, the settlement price of the main WTI crude oil futures contract in the United States was 79.72 US dollars per barrel, an increase of 1.67 US dollars per barrel or 2.1%. The settlement price of Brent crude oil futures main contract was quoted at 84.25 US dollars per barrel, an increase of 1.63 US dollars per barrel or 2.0%.

Market outlook

Due to the tight supply and favorable support from crude oil, the price of polyester staple fiber may rise.

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