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Polyester Load Increases PTA Slowdown

2019/8/8 11:59:00 63

According to the price monitoring of the business community, the price declines of the domestic PTA spot market slowed down in August 7th, down 0.21% from the previous trading day, down 27.36% from the same period last year. Futures market shock adjustment, to close the main futures (1909) closed at 5148 yuan / ton, compared with the previous trading day rose 2 yuan / ton, or 0.04%. For the import market, the PTA us offer is for reference of US $680-700 / ton, and the supplier of the day tour is quoted at $730-760 / ton.

Recent changes in PTA installations:

Enterprise name	Capacity (10000 tons)	Device dynamics
Liwan polyester	Seventy	Parking in July 27th, restart to be determined
Jiaxing petrochemical	One hundred and fifty	It stopped short in July 27th and resumed in early August.
Fuhua chemical industry and trade	Four hundred and fifty	Restart in August 1st
Sinopec Yizheng Chemical Fibre	Thirty-five	August 1st parking for 45 days
Jialong Petrochemical Company	Sixty	August 2nd parking for 2 weeks
Hengli petrochemical	Two hundred and twenty	It is planned to overhaul production line 1 in August, and the maintenance time will be about 15 days.

In August, the PTA plant was restarted and overhauled. The 4 million 600 thousand tons of Fuhua chemical industry and trade, 1 million 500 thousand tons of Jiaxing Petrochemical Company were restarted, 350 thousand tons of Yizheng chemical fiber and 600 thousand tons of Jialong Petrochemical Company were stopped for maintenance. The current PTA load was maintained near 95%.

The cost side is still weak. In August 6th, the international crude oil WTI main futures closed at $53.63 / barrel, down 1.06 US dollars / ton compared with the previous trading day, and the closing price of BRENT main futures was 58.94 US dollars / barrel, down 0.87 US dollars / ton compared with the previous trading day. Domestic PX price trend stability, maintained at 7000 yuan / ton nearby. Asian PX market FOB Korea closed at 773 U.S. dollars / ton, CFR China closed at 793 U.S. dollars / ton, compared with the previous trading day fell 5 U.S. dollars / ton.

PTA industry chain related products start up changes

The downstream polyester cash flow has improved, profits have recovered, some parking factories have been restarted, the start-up load has been raised to 84%, and there is a short-term replenishment action. However, the textile terminal orders are still cold and just need to be carefully purchased. The combined boot rate of Jiangsu and Zhejiang looms is 62%, the polyester fiber market is in a low production and marketing level, and preferential sales are the main ones. The price of the mainstream factories in Jiangsu and Zhejiang provinces has been reduced by 100-200 yuan / ton, of which polyester POY (150D/48F) is 7600-7750 yuan / ton, polyester FDY (150D/96F) is 7700-8200 yuan / ton, and polyester DTY (150D/48F low bomb) is 8950-9250 yuan / ton.

　　 Xia Ting, a business analyst, thinks that Affected by the slight enhancement of downstream polyester start-up, demand is expected to improve, and short-term support for PTA will be formed. But the sustainability of the resumption of production needs to be verified, and the cost side is weak and the macroeconomic environment is uncertain. PTA prices will remain weak.