Multiple Devices Restart PTA Price Downward Pressure

According to the price monitoring of business associations, the price of domestic PTA spot market fell slightly in August 21st, down 0.33% from the previous trading day, down 39.17% from the same period last year. Futures market to close main futures (2001) closed at 5158 yuan / ton, compared with the previous trading day fell 76 yuan / ton, or 1.45%. The import market is temporarily stable, PTA us offer for reference $700 / ton, delivery $660 / ton, one day tour supplier to $700-740 / ton. There is a good atmosphere in the spot market. Traders and factories are the main buyers.

Recently, the PTA start-up load has been raised to around 91%, and a number of devices on the supply side have restarted the bad market. Among them, Ningbo Yisheng 650 thousand tons PTA plant is scheduled to restart on the 21 night; Hua Bin Petrochemical 1 million 400 thousand ton PTA plant plans to be put to full load in recent days, and the 700 thousand tons PTA facility of Liwan will be restarted near August 23rd.

The raw material market maintained a narrow rise. In August 20th, the international crude oil WTI main futures closed at 56.34 US dollars / barrel, up 0.13 US dollars / ton compared with the previous trading day, and the closing price of BRENT main futures was 60.03 US dollars / barrel, up 0.29 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 rose 1 U.S. dollars / ton.

Terminal demand slightly improved, polyester started to pick up, inventory fell. Downstream polyester start-up load recovered to around 88%, Jiangsu and Zhejiang loom operating rate remained at 74%. In terms of inventory, polyester FDY stocks dropped 3 days, polyester DTY decreased by 2.5 days, and polyester POY dropped for 2 days. In terms of price, most mainstream polyester factories in Jiangsu and Zhejiang provinces are mainly stable, with an increase of 50 yuan per ton. Among them, polyester POY (150D/48F) is 7650-8000 yuan / ton, polyester FDY (150D/96F) is 7950-8200 yuan / ton, polyester DTY (150D/48F low bomb) is 8900-9200 yuan / ton.

Xia Ting, a business analyst, believes that there are several sets of devices to restart the PTA supply side in recent years, which suppress the price and support the cost side. But downstream demand has gradually improved, production and sales have improved, and PTA is expected to have a limited drop. The market still needs to pay attention to the planned maintenance of the 2 million 200 thousand tons of Hengli petrochemical plant and the change of terminal demand.