PTA There Is No Big Trend Market.

At present, PTA has been relatively low in terms of spot processing fees or disk processing fees, so the price has begun to stabilise after falling to 4600-4650.

However, due to the decline in crude oil and the decline in polyester production in the lower reaches, the market is not optimistic about the outlook for the PTA market. The price will continue to rise after reaching 4700 above, and it will face greater difficulties.

The price for the two week period has been narrowing in the 4650-4750 range.

In the short term, as long as there is no large device changes, the impact of the cost segment on the price is more important, and it is difficult for PX to maintain over $800 for a long time.

On the whole,

It is difficult to have a large trend market, and the short term cost follows the change of cost ratio.

This week PTA continued to shake at a low level.

Last Friday and Monday, due to the poor atmosphere of the whole commodity market, PTA also followed the concussion and continued to support in the 4500 line.

On Tuesday, the atmosphere of the commodity market improved, PX prices rebounded slightly, and processing fees continued to be low. PTA followed the whole market experience and rebounded on Tuesday, breaking 4600 to 4644.

However, Wednesday's price fell to below 4600 as it did not continue to boost the market.

In addition, in June, PX Asia ACP price has not been reached and buyers and sellers have not reached the price.

The low negative pressure on PTA dropped to 4510 on Thursday, and then stabilised for the time being.

On Friday, the market began to speculate on the issue of G20 limited production. The price rose 4672 times, and the price rose 158 yuan / ton throughout the week.

PX: the price of upstream crude oil and naphtha is low and the macroeconomic data is weak. Under this influence, the Asian PX price rise has not been sustained and the pressure has been low.

Britain will hold a referendum on the return of Europe, the US dollar is strong, the stock of crude oil has increased, and the device has resumed operation. Under this background, the pressure of Brent crude oil has declined.

As naphtha prices fell, the price difference between PX and naphtha rebounded to $400 / tonne. PX's July /8 month swaps trading price showed a higher spot premium, traders made use of spot premium to earn the difference.

Subsequently, the spot premium for /8 months in July was narrowed to $4 / ton from $7-8 / tonne.

At present, once the July cargo paction is completed, the delivery of goods in August and September will gradually slow down. With the advent of the G20 summit, the downstream devices will be shut down and the demand will be weakened.

The negotiation price for September is below the negotiating price for July and August.

In terms of production, Jurong aromatics group (JurongAromaticsCorp), located at Jurong Island, has a capacity of 800 thousand tons / year PX device, which is expected to be reopened from the end of June to the beginning of July. At that time, Singapore sourcing PX will enter the market.

Kyrgyzstan Japanese energy (JXNipponOilandEnergy) restart the 200 thousand tons / year facility in Chita and the 420 thousand ton / year production facility at the big point, with a current operating rate of 80-85%.

SK global chemistry (SKGlobalChemical) in Ulsan, the capacity of 450 thousand tons / year PX device will be restarted in third weeks in June, ending one month's maintenance.

Some PX installations in China will also be closed during the G20 summit.

Ningbo CICC plans to overhaul its capacity of 1 million 600 thousand tons / year PX device in September, coinciding with the Hangzhou G20 summit.

The 660 thousand tons / year's PX device in China's Zhenhai Refining and chemical production capacity is expected to reduce the start rate during the G20 summit.

Shanghai Petrochemical will overhaul the PX plant with a capacity of 600 thousand tons / year.

Liaoyang petrochemical production capacity of 450 thousand tons / year PX plant is scheduled to be overhauled from early July to September.

In terms of demand, demand is stable from July to early August, and demand is expected to slow from the early August to September G20 summit.

China's PTA mainstream manufacturer Hengyi petrochemical and Hengli petrochemical plant is located in East China. The market has been rumored that Hengli Petrochemical's capacity of 1 million 100 thousand tons / year has lowered the operating rate, but this information has not been confirmed.

BP Zhuhai production capacity of 1 million 250 thousand tons / year 3 PTA device and production capacity 1 million 100 thousand tons / year 2 PTA device after the restart high operation.

At present, PTA has been relatively low in terms of spot processing fees or disk processing fees, so the price has begun to stabilise after falling to 4600-4650.

However, due to the decline in crude oil and the decline in polyester production in the lower reaches, the market is not optimistic about the outlook for the PTA market. The price will continue to rise after reaching 4700 above, and it will face greater difficulties.

The price for the two week period has been narrowing in the 4650-4750 range.

In the short term, as long as there is no large device changes, the impact of the cost segment on the price is more important, and it is difficult for PX to maintain over $800 for a long time.

On the whole, PTA is difficult to have a large trend market. The short term cost follows the change of cost ratio.