Polyester Staple Prices Continue To Rise Sharply

The price of polyester staple fiber has become the vanguard of the rising price of chemical fiber market, and has driven the price of other chemical fiber varieties to rise. At present, the price difference between polyester staple fiber and PTA has reached 8000 yuan / ton, and the net profit of related enterprises has reached 5000 yuan / ton -6000 yuan / ton, and the profitability has been unprecedentedly high.

Judging from the current situation, the price of polyester staple fiber will remain high, and even the possibility of further rise may not be ruled out. However, the only thing we need to worry about now is the fluctuation of cotton prices. If the price of cotton market turns around, the direction of the market will soon change.

Recently, the price of chemical fiber market is higher than expected, especially the price of polyester staple fiber is the most, and even has reached a crazy level: viscose staple fiber price rose from 23000 yuan / ton to 29500 yuan / ton, spandex price rose from 55000 yuan / ton to 59000 yuan / ton, and polyester staple fiber price increased from 13000 yuan / ton to 19500 yuan / ton.

The price rise of the current polyester staple was completed in less than a week. On Friday (November 5, 2010), after the market price jumped to 14000 yuan / ton, Sinopec suddenly announced that the market price of polyester staple fiber should be set at 15000 yuan / ton. After that, the market price of polyester staple fiber rapidly increased, and the price of polyester staple fiber rose to 19500 yuan / ton this Tuesday (November 9, 2010).

Analysis considers

The difference between polyester staple fiber and PTA has been expanded to around 8000 yuan / ton.

We expect that under the price difference of 8000 yuan / ton, the net profit of polyester staple enterprises can reach 5000 yuan / ton to 6000 yuan / ton, and the profit ability is amazing.

Among the major listed companies in the industry, Huaxi Village has 170 thousand tons of polyester staple fiber production capacity and 350 thousand tons of polyester production capacity.

Assuming that the price difference between polyester staple fiber and PTA is calculated by an expansion of 1000 yuan / ton, the elasticity of Huaxi Village EPS is 0.15 yuan.

In addition, the price of PTA is expected to increase following the sharp rise of PET staple. In Rongsheng petrochemical, ST Guanghua and Zhuhai port, the Rongsheng petrochemical and ST Guanghua rights and interests are comparable, while Rongsheng Petrochemical's market value is 41 billion 700 million, and ST Guanghua market value is only 20 billion yuan (both are calculated at the closing price in November 9, 2010).