PTA Industry Is Sandwiched Between PX And Polyester Industry.

Since May and June this year, several large PTA factories have jointly changed the settlement mechanism, and the clearing price has been re priced according to the cost of raw materials PX plus 700 yuan / ton.

PTA enterprises unilaterally change their contracts have been strongly resisted by downstream enterprises.

Some polyester enterprises choose to reduce production and reduce PTA purchases.

However, in the end, the arm is not the same as the thigh. Polyester enterprises finally have to compromise to recognize the settlement mechanism.

Although the PTA business has won the game on the surface, the industry has said that PTA enterprises may actually pay more for the reduction of production and return to the market and profits.

The authority of the industry believes that the reduction of PTA is in some way contributing to the whole textile industry chain.

PTA as the source of the textile industry chain, under the condition of the imbalance of supply and demand in the overall industrial chain, controlling its capacity is conducive to the digestion of the upstream and downstream stock products.

It can be seen that the profitability of the polyester industry has begun to improve under the stimulation of PTA reduction.

The game between PTA and PX industry has existed for a long time.

Only when the price of crude oil fell sharply this year, the differences between the two sides became more and more controversial.

This year, PX and

Only two months after the industry reached the PX ACP initiative price in Asia.

Although the PX factory has sharply lowered the price of advocacy, the PTA plant still has no access.

The successive failures of PX ACP negotiations in Asia show that the PTA plant is short of PX.

Coupled with the rising US dollar index and the suppression of commodity markets, PTA is actually snatching the right to speak.

However, the PX industry is relatively centralized, and its organizational self-discipline is strong, and it is still strong in the game relationship.

Besides the upstream and downstream games, the interests of the industry must also rely on self efforts to maintain.

After PTA changed the price settlement mechanism, crude oil prices fell again and again.

Without the support of cost, under the dual pressure of PTA production capacity and crude oil price reduction, PTA can not play many cards.

According to the insiders, PTA must do a good job in the "switch factory", and enterprises should plan to start work according to their profits, so as to ensure the interests of the whole industry.

At the beginning of December, after the announcement of OPEC's no reduction of oil production, the domestic PTA giants were overhauling.

Yisheng Dalian, Yisheng Ningbo, Hengli Petrochemical many sets of devices from December 1st to stop maintenance.

Xiang Lu Petrochemical 4 million 500 thousand tons / year installed in December 4th to stop and repair.

Coupled with some other devices to reduce load, preliminary calculation of the reduction in production capacity accounted for about 50% of the total domestic capacity.

However, in the industry view, the PTA industry faces

The sense of self-help is not as strong as that of the polyester industry, and self rescue measures are not as decisive as expected.

Wang Jiangen believes that this is the lack of self-discipline consciousness.

After several fluctuations, enterprises realized the importance of limited production and insured prices.

And from China

From the perspective of the development of the PTA industry, industry experts believe that the crisis management capability of the PTA industry needs to be improved compared with that of the polyester industry.

This is mainly because the polyester industry in China has experienced many rounds of ups and downs in the market competition environment, accumulating rich experience in dealing with crises, and knowing how to standardize operations to cope with the current long period of downturn.

Moreover, the polyester industry has a wide variety of products, a wide range of downstream applications, and a larger space for innovation.

However, the growth of PTA industry in China is not long enough. The accumulated experience of crisis management is not enough. Moreover, the industry itself has the characteristics of single product, limited application field and dependence on polyester industry, which makes the industry's performance to deal with market volatility still needs to be improved.

PTA industry suffered a series of experience this year, and Wang Jiangen is optimistic about next year's PTA performance.

He believes that in addition to the importance of self-discipline in enterprises, after the change of supply and demand, the PX's power is weakening and the discourse power of PTA industry is strengthened.

In addition, in recent years, PTA enterprises have attached great importance to improving quality and energy conservation and consumption. The domestic PTA industry will be better next year than this year.