In 2018, PTA Export Volume Reached A Record High, And Imports Reached A New High Of 4 Years.

In 2018, China's PTA export volume was about 788 thousand tons in 1-11 months. JOYOU's information estimated that the annual PTA export volume theory in 2018 will be about 860 thousand tons, which will set a new high.

In 2018, China's PTA imports amounted to about 706 thousand tons in 1-11 months. JOYOU's information estimated that China's PTA import volume in 2018 was about 770 thousand tons, nearly 4 years high.

According to the average monthly commencement load in 2018, the output of PTA theory in 2018 was about 39 million 440 thousand tons, and the theoretical demand was about 38 million 640 thousand tons. The output and demand of PTA theory reached a record high. In 2018, PTA inventory rose slightly.

In 2018, the supply of PTA in China was slightly larger than that in demand, and there was enough PTA supply to meet the needs of foreign countries.

In 2019, PTA may be less than supply, and PTA export volume may be restrained to a certain extent.

In 2019, the actual PTA production capacity was limited: Hengli Petrochemical 2 million 500 thousand tons / year plan was put into operation at the end of 2019, and its output had little impact on the 2019 market; Xinjiang Baota Petrochemical was caught in a bill crisis, and the time of delivery of the 1 million 200 thousand ton / year PTA plant was difficult; Xinjiang Zhongtai Petrochemical 1 million 200 thousand ton / year PTA plant will be equipped with 1 million 500 thousand ton / year polyester plant, and the project is under construction; Sichuan Shengda 1 million tons / year PTA installation still has no specific time to launch, the project has been postponed for several years.

If Fuhai set up third sets of 1 million 500 thousand tons / year PTA device in 2019, it will increase PTA output substantially after restart.

JOYOU information rough statistics in 2019 downstream polyester theory expansion capacity of 6 million 800 thousand tons / year, according to usual practice, part of the production capacity may be postponed put into operation, according to the 60% unit on schedule to put into operation in 2019, the new polyester production capacity of about 4 million 80 thousand tons / year.

According to the average annual commencement of 86.5% polyester in 2018, the demand for new PTA in 2019 was about 3 million 30 thousand tons. In 2019, the supply of PTA was in short supply. It was speculated that the domestic PTA export volume in 2019 was limited.

In 2019, the downward pressure on China's economy remained relatively large, and the growth rate of domestic demand began to decline. However, the external pressure on China's trade war and the Fed's interest rate hike increased. The pressure on China's textile and garment exports has not diminished. JOYOU's information suggests that the poor macroeconomic environment may inhibit the growth of PTA to some extent.