Lack Of Obvious Good Incentives To PTA Prices Are Mainly Weak

According to the price monitoring of the business community, the price of domestic PTA spot market continued to weaken slightly. As of December 23rd, the market average price was 4855 yuan / ton, down 0.70% from the previous trading day, down 25.81% from the same period last year. Weak futures market adjustment, to close the main futures (2001) closed at 4880 yuan / ton, compared with the previous trading day fell 34 yuan / ton, or 0.69%. Buying is dominated by traders and the trading atmosphere is light. PTA is currently under construction load of 93.59%, Yisheng Petrochemical announced the first quarter PTA plant maintenance plan.

Changes in domestic PTA plant installations

On the cost side, crude oil dropped. As of December 20th, the main futures price of the international crude oil WTI was 60.44 US dollars / barrel, down 0.78 US dollars per barrel compared with the previous trading day, and the main futures price of BRENT was 66.14 US dollars / barrel, down 0.40 US dollars / barrel compared with the previous trading day. The Asian PX market closed at $805 / tonne FOB Korea and $825 / tonne CFR China, up 3 US dollars / ton compared with the previous trading day. Affected by the weakening of raw materials, the enthusiasm of downstream enquiries has cooled, polyester factories have reduced production, and load has been reduced to around 83%. The prices of mainstream polyester filament factories in Jiangsu and Zhejiang provinces are basically stable, and prudence and wait-and-see are the main ones, of which polyester FDY (150D/96F) reported 7250-7600.00 yuan / ton. Textile terminal, in the late December, the stock of downstream enterprises is still decreasing, the market orders continue to weaken, and the comprehensive boot rate of Jiangsu and Zhejiang looms is around 67%, and the enthusiasm of manufacturers is not as good as before.

Xia Ting, a business analyst, said the PTA plant announced the overhaul plan. However, because of the decline of crude oil, chemical products were frustrated, and the new production capacity of PTA was approaching. In addition, this year's holiday time ahead of schedule, the market atmosphere will further decline, with the increase in the number of holiday makers, the market will be more difficult to boost, in the basic lack of obvious good stimulation, PTA prices are expected to be weak.