The price of domestic polyester staple fiber rose slightly in January. According to the price monitoring of the business agency, the average price of domestic polyester staple fiber spot market on January 31 was 7642 yuan/ton, up 4.66% from the price of 7302 at the beginning of the month, up 1.64% year on year. In the futures market, the staple fiber contract at the end of the month closed at 7470 (settlement price 7488), up 3.29% from the beginning of the month.

In January, the international crude oil price rose first and then fell, with a slight decline in the whole month. On January 31, the main contract of US WTI crude oil futures closed at around $79/barrel. The supply of crude oil in the United States has declined this month, the economy in Asia has recovered, the import volume of crude oil in China has increased significantly, and the recovery of demand has supported the international oil price. However, the high level of inflation in the western developed economies has hurt the global economy and undermined the international oil market.

In January, the domestic PTA market showed a trend of first decline and then rise. As of January 31, the average market price was 5748 yuan/ton, up 2.35% from the beginning of the month and 5.96% year on year. This month, PTA plant maintenance devices were restarted frequently, and the load was significantly increased. Among them, 2.4 million tons of Honggang Petrochemical, 3.3 million tons of Yisheng New Materials and 2 million tons of Yisheng Ningbo have been restarted successively and are now in normal operation. In terms of new capacity, Jiatong Energy 1 # 2.5 million tons of units, of which 1.25 million tons of units will produce high-quality products at the end of January 2022, and the other 1.25 million tons of units will produce high-quality products at the beginning of January. Another 1.25 million ton new unit of Shandong Weilian Chemical has not been officially commissioned.

The price of ethylene glycol recovered in January. On the one hand, it was driven by the oil price and its own low valuation. On the other hand, it was due to the reduction and conversion of large units, which boosted market confidence. The spot price rose by about 8% in the whole month. However, the supply and demand structure of glycol fundamentals in the medium and long term is still weak, and it is expected that the probability of future platform shocks will increase.

In January, the start-up rate of the yarn mill and weaving mill fell to the freezing point due to the Spring Festival holiday. At present, most enterprises are still in the shutdown stage, and the production recovery is later than the upstream. It is expected to resume the start-up in the first ten days of February. In addition, due to the high stock level of raw materials in some factories before the holiday, and the overall weakness of new orders after the holiday, the order reception situation is not ideal, and the recovery of demand side is not obvious.

Analysts from the Business News Agency believe that the current international crude oil market is highly volatile, and the cost support of staple fiber still exists. The downstream terminal market will gradually resume work after the festival, and there will be a wave of replenishment demand for staple fiber. It is expected that the price of staple fiber will fluctuate slightly with the cost in February. Pay attention to the price trend of raw materials and the resumption of industrial chain.