In November, the domestic polyester staple fiber price continued to be weak and fluctuated downward. According to the price monitoring of the business community, the average price of domestic polyester staple fiber spot market on November 30 was 7372 yuan/ton, 4.90% lower than the price of 7752 at the beginning of the month, and 2.72% higher than the same period last year. In the futures market, the staple fiber contract at the end of the month closed at 6592 (settlement price 6586), down 2.17% from the beginning of the month.

Industrial chain: 1. The Federal Reserve suggested that the interest rate increase was far from over. OPEC+again lowered the growth expectation of global crude oil demand in 2022, and crude oil prices fell in November. At the end of the month, the main contract of US WTI crude oil futures closed at 80.55 dollars/barrel, down about 6.9% for the whole month. 2. In the first ten days of this month, PTA became stronger due to the positive impact of crude oil and its own supply. However, since the middle of the year, the new device is about to be launched, the cost is weakening, and the demand is not good. Under the superposition of many bad news, the PTA spot price is down, and the futures trend is stronger than the spot full month futures. 3. The fall in crude oil price has weakened the support for ethylene glycol cost, and the downstream demand has remained sluggish. However, due to the impact of poor efficiency, the unplanned maintenance of ethylene glycol has increased recently, and the operating rate remains low. In the case of a large decline in the previous period, the price of ethylene glycol was also at a relatively low level. Ethylene glycol futures prices rebounded slightly throughout the month. 4. The market situation of pure polyester yarn and polyester cotton yarn continued to be weak this month, with a small decline in prices and flat trading. As a whole, it was slow to go to the warehouse, mainly through negotiation.

On the supply and demand side: the stocks of staple fiber manufacturers continued to increase this month, and some large factories reduced production. The domestic sales of terminal textiles are weak, while the export sales are poor. Weaving enterprises have further reduced their burden. The demand for raw materials continues to be weak, mainly for the purchase of rigid demand. The production and sales of staple fibers continue to be sluggish, and the price continues to fall.

Analysts from the business community believe that the market is still evaluating the impact of future crude oil demand prospects and tight supply and other factors on oil prices. It is expected that the crude oil market will remain volatile, and the cost side of polyester staple fiber may remain volatile. The characteristics of the downstream off-season are obvious, and the terminal demand continues to be weak. It is expected that after December, the phenomenon of textile enterprises giving annual leave in advance will further increase, and the stock of staple fibers may continue to accumulate. The staple fiber market may still be weak in December. Pay attention to changes in raw material prices, dynamic changes in units and fluctuations in downstream orders.