The Market Once Again Entered The Pattern Of Overcapacity.

At present, the heavy load production of large PTA factories will bring greater supply pressure, which will accelerate the pace of drop in spot prices and lead to the expansion of losses. Downstream polyester enterprises are still facing the pressure of terminal demand and financial strain. The contradiction between profitable production and oversupply of upstream PX links is also gradually exposed. PTA industry chain links are dangerous.

In this survey, the reporter also felt the market participants' concerns about the existing situation of PTA industry chain. "The market environment has been going downhill in recent years. cost Increase faster, export orders reduce, "winter" is very difficult in a short time. Jin Lei, general manager of Changle Textile Co., Ltd., Chen Wenjie, sighed.

For this point, Xiang Lu Petrochemical responsible person also has the same feeling. "The number of peers is too large, and the capacity has also increased a lot. Now it seems that the industry is bigger, but no one is stronger." The person in charge said frankly.

In the face of price alliance, polyester factories have also increased costs and profits have declined. According to the chairman of Jin Lun Chemical Fiber Co., Ltd., the biggest damage to the price alliance is not to raise prices, but rather to accumulate inventories. "The upstream price rises, then the price rises downstream. However, the terminal acceptance is not high enough to digest in time. Stock Cumulative, corporate capital turnover slowed down.

For now, in the current whole PTA In the industry chain, the market is most concerned about the upstream PX link. "Because PTA and polyester links have been accustomed to the reasonable control of production load in order to cope with overcapacity, the overall supply and demand remained stable. But the PX link is still profitable at present, but the capacity supply exceeds demand, so how can PX businesses cope with market concerns? " In the view of Wang Guangqian, an analyst at Soochow futures, the price center of PX basically determines the price of PTA and the price center of the downstream polyester links.

Manelli, executive director of Henan Asset Management Co., Ltd., Zhang Mingwei, predicted that due to the pressure on the current crude oil inventories compared with the PX price of the ambassador, the stock of PTA downstream staple and long fiber is not large. Overall, the PTA industry chain is still in the adjustment cycle. "There is little room for further decline in PTA spot prices in recent years, with insufficient impetus or consolidation in the low level."