PTA Petrochemical Accident Reconstruction Futures Prices Continue To Rise

This Nanjing

The T-430 refining tower of the district glycol plant exploded, and the PTA device stopped immediately. The restart time was still uncertain.

The industry believes that the PX project in the early stage of Zhangzhou exploded. Similar incidents occurred in Yangzi Petrochemical plant.

Supply will be limited and profitability is expected to improve.

Ethylene glycol is widely used for production of polyester fiber, PET polyester film, polyester products account for more than 90% of ethylene consumption, of which polyester accounts for 55% of total consumption.

At present, the total production capacity of ethylene glycol is 5 million 940 thousand tons / year, and the production capacity of Yangzi petrochemical ethylene glycol is 260 thousand tons / year, accounting for nearly 5%.

The explosion will directly reduce the market supply of ethylene glycol.

In addition, the port in late April to the limited boat, the East China ethylene glycol mainstream port inventory last week near 550 thousand tons.

Considering that the demand for polyester fiber in the lower reaches of the river has basically been functioning normally and the support for ethylene glycol is strong enough, this unexpected event will break the short-term supply balance and will boost the price of ethylene glycol.

In terms of PTA, since April, Gure's Tenglong PX project has been affected by explosion and the price of crude oil has been lifted. The spot price of PTA has obviously rebounded, and has risen more than 12% in the past 20 days.

At present, the restart of the Xiang Lu petrochemical plant has postponed the impact, and spot supply has decreased significantly.

The explosion of the Yangzi Petrochemical plant resulted in the shutdown of the glycol plant. The PTA production line also stopped immediately, which played an important supporting role in the market.

In terms of price, the futures market has shown a strong trend in April 21st. The main contract of PTA has risen 2%, and the downstream polyester enterprises have been boosted. Prices continue to rise. The price of mainstream factories in Jiangsu and Zhejiang has increased by 200 yuan / ton.

The industry expects that under the impact of Yangzi Petrochemical, short-term PTA spot prices will continue to rise.

Overall, under the superposition of Zhangzhou PX project and Yangzi Petrochemical incident, the safety production standards of petrochemical enterprises will be more stringent and help reduce the capacity supply of industries.

In addition, under the support of the rebound in oil prices, ethylene glycol and PTA industrial chain will usher in an opportunity to enhance the boom.

In terms of the company, the technology of coal gasification and ethylene glycol has been in the leading position in China. The 200 thousand ton plant of Tongliao golden coal has been put into operation, and the following new capacity is bigger.

The company said that the average production load in 2015 will reach over 85% of design capacity, and the annual output of ethylene glycol is 145 thousand tons, and the output rate of superior products will be above 98%.

Heng Yi Petrochemical main PTA and polyester, leading domestic enterprises, including PTA rights and interests of nearly 6 million tons of capacity, polyester filament production capacity of nearly 2 million tons.

Driven by stabilizing oil prices and improving PTA supply and demand, the company expects net profit of 100 million -2 billion in the first half, which will turn into a profit in the same period last year.

It is understood that Nanjing Yangzi Petrochemical owns

Capacity of 260 thousand tons, accounting for about 5% of the total domestic capacity; PTA production capacity of 1 million 350 thousand tons, accounting for 3% of the total domestic capacity.

Influenced by the explosion of the ethylene glycol plant of Yangzi Petrochemical Company, the price of ethylene glycol is rising strongly today, and the price of electronic disk is rising.