Xiang Lu Petrochemical Plant Restart PTA Concern 4900 Support

Overall, PTA costs are hard to fall, demand is improving, inventories are beginning to slide, and new lows may be low. However, the PTA loss will be reduced, and the exit of capacity will slow down. The consolidation time of PTA will be lengthened. Later, the focus was on the stock exchange digestion and Sinopec's operation.

The rapid rise of PTA price by PX deflagration incident has come to an end. At present, the market information has heard that Xiang Lu petrochemical PTA plant plans to restart, while downstream polyester production and sales have dropped sharply. After the good news is fading, the price of PTA has returned to the fundamentals again. In the short term, PTA has been rising or taking back.

1. Xiang Lu petrochemical Zhangzhou's 4 million 500 thousand ton PTA plant is restarted at the weekend, with a preliminary load near 5. 2. The 1 million 200 thousand ton PTA unit of the Ningbo platform stopped in April 7th and lasted for about 25 days. 3. ExxonMobil's PX facility in Singapore is scheduled to stop for a month's maintenance in April 22nd. 4, the operating rate of Nippon PX will remain at 80%-85%. 5. Korea modern petrochemical project is scheduled for April 2015. PX device Stop for 40-45 days.

Weekend Heron 4 million 500 thousand tons PTA The restart of the device will create a negative impact on the supply side. However, in the case of poor profitability, the overall PTA utilization rate will be limited, while the downstream polyester is still in the seasonal peak season, supporting the demand of PTA. Therefore, the contradiction between supply and demand of PTA will be eased or later, or go into the inventory cycle. Last cycle price rebounded sharply due to the Zhangzhou PX device, but then dropped slightly. The short term pays close attention to the 4900 front line support.

Tenglong aromatics explosion and short term hard to restart, supporting the Asian PX prices remain high, and make the heron 4 million 500 thousand tons PTA device at least load to a low level, so it is estimated that the domestic PTA load will be reduced to about 65%. Rising polyester polyester production and sales improved significantly, with a weekly average of 170%. At present, the polyester product library has dropped significantly for 7 days. It is at a relatively low level in history. Therefore, the polyester enterprise has a greater probability of maintaining a load of about 8 or so. It can be predicted that there will be an inflection point of PTA social inventory in April.

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