The staple fiber main contract of Zhengshang Institute has a daily limit of 9%, and the price is 7734 yuan/ton. During the Spring Festival, crude oil rose again, while staple fiber benefited from the promotion of raw materials, the improvement of terminal demand and its own supply bottleneck, and it is expected to continue its upward trend after the Spring Festival. Since 20 18, the growth rate of short fiber production capacity has been declining continuously, from 9% to 5.5%, while the growth rate of downstream consumption has remained at 12%- 17%. Therefore, the current situation of staple fiber industry in the last three years is: the growth rate of production capacity continues to decline, the operating rate of the industry gradually increases, and the profit rate of the industry slightly increases. In 20021year, the growth rate of short fiber production capacity is expected to continue to decline below 4%. If the demand growth rate can be maintained, the relationship between supply and demand in the short fiber industry is expected to tighten, and the industry is in a boom cycle. Short fiber is also in a state of high start-up and negative inventory (production order) in the short term, which proves that the supply and demand pattern is good.

1. Futures contract: A futures contract is an agreement that the buyer agrees to receive assets at a specific price after a specified time, and the seller agrees to deliver assets at a specific price after a specified time. The price that both parties agree to use in future transactions is called futures price. The designated date on which both parties must conduct transactions in the future is called settlement date or delivery date. The assets that both parties agree to exchange are called "targets". If an investor obtains a position in the market by buying a futures contract (that is, agreeing to buy it at a future date), it is called a long position or a futures long position. On the contrary, if the position obtained by investors is to sell futures contracts (that is, to assume the contractual responsibility for future sales), it is called short positions or short futures.

2. Concept: Futures contracts are standardized contracts designed by exchanges and listed by national regulatory authorities. The holders of futures contracts can fulfill or cancel their contractual obligations through the settlement of spot or hedging transactions. A futures contract refers to a standardized contract made by a futures exchange and agreed to deliver a certain quantity and quality of goods at a specific time and place in the future. It is the object of futures trading, and the participants in futures trading transfer the price risk and obtain the risk income by buying and selling futures contracts on the futures exchange. Futures contracts are developed on the basis of spot contracts and spot forward contracts, but their most essential difference lies in the standardization of futures contract terms. Futures contracts traded in the futures market are standardized in the quantity, quality grade, delivery grade, premium standard of substitutes, delivery place and delivery month, which makes futures contracts universal. In the futures contract, only the futures price is the only variable, which is generated by public bidding in the transaction.