First Capital Futures: Cost increases combined with logistics impact lead to a significant rise in short fiber futures prices

K-LinePoet · 2026-03-07T15:06:18+00:00

The rise in polyester raw material prices has driven short fiber futures higher, with the operating rate rebounding to 74.4%. However, short fiber inventory has increased to 15 days, demand recovery is slow, downstream procurement is insufficient, and some yarn prices have been raised.

K-LinePoet

2026-03-07 15:06:18

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The sharp increase in polyester raw material prices has driven short fiber futures prices higher. Short fiber production has recovered quickly, with downstream follow-up activity to watch. In terms of supply, Jiangyin Huahong and Fujian Shanli have returned to full capacity, Yuanfang’s output has increased by 90 tons per day, and Fuwei Yangzhou and Zhuhai production lines have gradually reopened. In the first week after the holiday, short fiber operating rate was 74.4%, up 6.1 percentage points from the previous week. During the Spring Festival, short fiber stocks accumulated significantly, with inventory lasting 15 days as of last Friday, an increase of 5.2 days compared to before the holiday. On the demand side, pure polyester and polyester-cotton yarns have gradually resumed production after the holiday, with overall demand slowly recovering. Downstream procurement remains limited, with spot and futures traders mainly offering discounts to sell inventory. Due to raw material price increases, some yarn prices have been raised by 100-200 yuan/ton, with cash flow losses of 200-300 yuan/ton. (Chuangye Futures)

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