Polyester Plant Continues To Stop Maintenance Market Stability Intention Leading

Afternoon PTA market performance is relatively light, arbitrage business offer at 4140-4150 yuan / ton, counter offer 4110-4120 yuan / ton, now a few single deal 4140 yuan / ton to deliver; today PTA PTA external stability is the main reason, morning supplier day tour offer has more than 5 U.S. dollars or so decline, within one day, there is a turnover of 536 U.S. dollars / ton dollars, the purchase intention is still below 530 U.S. dollars / ton.

In the afternoon, the centre of gravity of MEG was slightly weaker, and the spot offer was at 4460-4470 yuan / tonne, and the price was negotiated at this price. In February, futures maintained a small rise of 20 yuan / ton, and the center of gravity of MEG's external market was slightly weaker in the afternoon. The recent shipping offer was close to $565 / ton, and the counter offer was 555-560 dollars / ton, and the turnover was 560 US dollars / ton or slightly higher; and bonded talks were near 565 US dollars / ton.

In Jiangsu and Zhejiang provinces, the semi light section has a low level of trading, and there is not much replenishment downstream. A small number of small and medium-sized pactions in the vicinity of a few tons of 100-200 tons are up and down 5250 yuan / ton.

Shandong Changyi market yarn price stable, trading few.

Pure polyester yarn prices are stable, the early stage of the harvest is mainly cash, the mainstream of 32S yarn is reported to be around 10300 yuan / ton, and the imitation yarn is 9000 yuan / ton.

this

The short and short market quotas remained stable. The 1.4D direct spinning polyester and short market mainstream reported 6200-6250 yuan / ton short delivery. The actual paction concluded that the early PTA futures opened slightly fluctuated.

Shandong and Hebei markets

The quotation is stable, 1.4D direct spinning polyester short mainstream newspaper 6200-6300 yuan / ton to deliver, the actual paction can be negotiated, the recent market turnover is thin, sporadic just demand.

Yisheng petrochemical in January 21st, the main port made a modest reduction in its cash offer: the internal market fell 20 to 4100 yuan / ton, buying price fell 20 to 3960 yuan / ton, the middle price fell 20 to 4000 yuan / ton, and the selling price of the United States dropped 4 to 538 dollars / ton.

A 1 million 600 thousand ton aromatics stop in Ningbo near January 5th

It was scheduled to resume at the end of this month. It is now postponed until late February, and the restart time of the reformer will be postponed.

Related links:

2016, the supply side needs to focus on several new installations, and the restart of Tenglong aromatics plant. Before the new production capacity is launched, Yisheng and Hengli's overall control capability is still strong. It is expected that they will still adopt the strategy of "limited production quotations" to maintain the PTA processing profit at a reasonable level, and the overall bargaining power of the downstream polyester plants is poor. The loss is expected to become normal; if the Tenglong aromatics 6 million 150 thousand ton plant and the new capacity are put into operation smoothly, the supply pattern of PTA will change, and PTA will return to the excess supply state, and the profit level will be compressed, so the polyester profit level of the downstream will be improved.

Looking forward to 2016, the weakness of crude oil and overcapacity will still be the main factors that affect the trend of the whole market. We believe that the PTA price will remain low and broad oscillation market in 2016, and it will run in the range of 3800 yuan / ton -5200 yuan / ton. At the same time, it is concerned about the industrial policy and the uncertain risks caused by the rebound in crude oil prices.