Low Raw Materials: Weakening Production Cost Of PTA

Upstream PX is also vulnerable to falling crude oil.

Since August, the price of PX (FOB Korea) has dropped by 11.4%, which is now close to historical lows, reaching 737 US dollars / ton.

The decline of raw materials has reduced the production cost of PTA. In the background of limiting production and insurance prices in the PTA industry, the theoretical loss of PTA production has decreased from 500 to 600 yuan / ton in the middle of July to less than 300 yuan / ton.

In the same period, the decline in naphtha was even more obvious, reaching 18.2%. In addition to processing costs, the PX production link still had a profit margin of around us $75 / ton.

There is a demand for market or demand.

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In view of this, the 2 million ton PX plant of CICC has gradually achieved normal production in August, while increasing domestic supply and forming a certain pressure on the import market. PX will continue to go down a lot in the future.

With the crude oil market being repeatedly low, domestic

The price center of gravity is also moving downward.

Recently, PTA futures changed to a strong trend in the early stage, showing a cliff type fall, a record low.

The decline of PTA is partly due to the weakness of the external environment. On the other hand, the fundamentals of the polyester industry chain itself are not good enough.

Although the US crude oil futures rebounded sharply in August 27th, the PTA price rose sharply.

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