PX Supply Gradually Relaxed, Cost Support Weakened

From the specific data, from the end of May to June, the capacity of PX to restart in Asia is about 3 million 400 thousand tons, including HC Petrochemical 1 million 180 thousand tons, S-OIL100 million tons, Fu Jia Dahua 700 thousand tons, Singapore Mobil 530 thousand tons total five sets of equipment, and the recent planned shutdown maintenance PX device is only 770 thousand tons (Japan Tonen19 million tons and Taiwan FCFC58 million tons).

In addition, Ningbo CICC 1 million 600 thousand ton new plant is scheduled to run in early June, and is expected to be put into operation at the end of June.

With the gradual easing of PX supply and demand, PX naphtha processing profits continue to shrink, and PTA cost support is expected to weaken.

Because

Short term is tight, some shut down.

After opening one after another, the original planned maintenance device also cancelled the maintenance plan, which led to the recent PTA load rising obviously.

Fujian's 600 thousand tons of parking in December last year

It started heating up in mid May; the 700 thousand ton PTA unit of Yangzi Petrochemical Company in Jiangsu due to the explosion of the olefin plant was reopened this week; Hengli Petrochemical's 5 production lines in June and June have been cancelled.

So far, the PTA load has increased from 62% at the lowest level in mid April to 69.5%.

In June, Ningbo MITSUBISHI, Helen petrochemical and other devices will also be restarted. At the same time, Sichuan Shengda 1 million tons of new capacity is facing the pressure of release.

In addition, the market rumors that Xiang Lu petrochemical or in early June to restart its Xiamen 1 million 650 thousand tons of old line device.

By then, the load of PTA plant will increase significantly to more than 75%.

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