The Domestic PTA Industry Has 3 Million 400 Thousand Tons Of PTA New Capacity Put Into Operation.

At present, the PTA market has entered the competition stage of low cost and high cost capacity.

Affected by debt relationship, local government output value and tax contribution, it will be a complicated and long process to completely withdraw from the market.

By the end of the year, the nominal capacity of the domestic PTA industry reached 46 million 930 thousand tons, exceeding the nominal capacity of 46 million 580 thousand tons of downstream polyester.

It is estimated that the apparent consumption of the PTA industry will decrease to 66% on average in the 32 million tons this year.

From the point of view of apparent value, the PTA industry has entered the pattern of absolute overcapacity.

At the same time, this year, the PTA industry goes.

The speed is obviously faster.

In March, Far East Petrochemical announced bankruptcy, involving 3 million 200 thousand tons of capacity to withdraw from the market.

In April, Tenglong aromatics PX plant accidentally exploded. The 4 million 500 thousand ton capacity of Xiang Lu petrochemical company was caught in a long term shutdown to be reorganized, and another 1 million 650 thousand tons of old plants entered the shutdown state very early. In addition, the other PTA production enterprises shut down for a long time (over 6 months or more), and the total production capacity reached 14 million 300 thousand tons.

After deducting this capacity, at present

The actual effective capacity of the industry is 32 million 630 thousand tons.

Corresponding to the apparent demand, the PTA industry has been in a state of balance between supply and demand stage by stage.

The qualitative equilibrium is due to the fact that the peak of capacity expansion in the PTA industry has ended, but new capacity is still released in the late stage.

For example, postponed until the first half of 2016.

The two phase of Hon Bang petrochemical and Sichuan Shengda involve 3 million 200 thousand tons of new capacity, equivalent to the total capacity of the Far East petrochemical company.

In addition, the restructuring talks between SINOPEC and Xiang Lu Petrochemical are already in progress.

It is reported that Sinopec expert group has been stationed in Xiang Lu.

It is only a matter of time for the 4 million 500 thousand ton PTA capacity of Xiang Lu Zhangzhou Petrochemical Company to return to the market. If the restart in the second half of 2016, there will be obvious pressure on the supply of PTA market.

It is expected that the global economic downturn will continue next year. The most significant depreciation trend of most currencies in Russia, India, Turkey, Brazil and the euro area will not change. This will seriously impact on China's foreign trade exports.

From 1 to November, China's textile and clothing exports amounted to US $256 billion 946 million, down 5.79% from the same period last year.

Judging from the performance of manufacturers, the slow increase of PTA processing costs has become a trend. But the competition is limited by the competitive pressure and low cost on high cost devices. The processing fee of 700 yuan / ton is still a top in 2016.

In 2016, we can refer to the level of processing cost interval of 300 - 700 yuan / ton as an important basis for judging the relative price of PTA.