Polyester Raw Material Market But Weak Decline Is Difficult To Change With Rising Pace Stagnant

Since May, the price of oil in New York has been suppressed.

At the beginning of the month (4.29-5.3), oil prices in New York fell three times, from $3.61 a barrel to $43.65 a barrel at a high level of $46.03 a barrel.

The reason is that the output of OPEC member countries has reached a record high level, and the market worries about global oversupply of crude oil have been rekindled.

Subsequently, Canada's forest fire was out of control, resulting in production activities in the oil rich areas of the country being disrupted. The offshore oil facilities in the southern part of Nigeria were attacked by the Chevron Co, resulting in a threat to crude oil production, thereby helping to push up oil prices by three times (5.4-5.6) to $44.66 a barrel.

Oil prices fell sharply from $1.22 to $43.55 a barrel as a result of the uncertainty of the expulsion to the market of Saudi Arabia's oil minister.

However, the rebound in oil prices has not changed. Recently, a series of production interruptions worldwide have led to a partial output withdrawing from the crude oil market. Meanwhile, the US crude oil inventories unexpectedly dropped, and its domestic crude oil output decreased for ninth consecutive weeks, thus providing support for oil prices.

On the 10-12 th of May, the US oil rose 3.26 US dollars to 46.7 US dollars per barrel, the highest in six months (since November 3rd last year).

Although the crude oil "frozen production agreement" has not been reached, Saudi Arabia,

The output of major oil producing countries and other major oil producing countries has reached a high level, with limited growth in the late period.

The peak demand for gasoline in the US is coming. The growth of crude oil demand will ease the pressure on stocks, the supply and demand pattern of crude oil is improving, and the strong trend of crude oil will continue.

April domestic

Tight supply and demand, coupled with capital push up, PTA spot price rose 5.5%.

In early May, international crude oil and Asian PX fell, dragging down the price of PTA.

As of 12 days, PTA internal disk

The total decrease was 280 yuan (-5.75%) to 4590 yuan / ton.

The PTA processing fee has dropped from 800 yuan / ton at the end of April to the current level of 600 yuan / ton.

From the supply side, in April, the PTA overhaul device was more, and the monthly average load was about 64%. In May, a 1 million 100 thousand ton PTA production line in Jiangyin was restarted, the load operation was near 5-6, and another 1 million 100 thousand ton PTA new production line was running near 8. The overall load of the PTA device was raised to about 68%, and the market supply is relatively loose at present.

But later, there are three houses, Zhuhai BP, Yisheng and other large plant PTA device repair plan, device load or down again.

From the demand side, the domestic polyester load in April was around 80%, at a relatively high level. Up to now, the polyester load has not changed much, but the overall strength of the polyester plant has been greatly reduced since last month.

In the short term, the supply and demand side of PTA is relatively balanced, the crude oil trend is strong, the cost side has support, the low price of the internal market is acceptable, and the price of PTA continues to be limited.

As the load of downstream polyester and terminal weaving decreases from high season to low, PTA supply and demand side will enter the inventory accumulation period in mid 5.