Pressure Of Supply And Demand Further Aggravated, PTA Prices Dropped Slightly.

According to the price monitoring of the business community, the price of domestic PTA spot market first fell and then rose, showing a downward trend overall. As of January 17th, the market average price was 4883 yuan / ton, down 1.17% from the beginning of the week, down 23.65% from the same period last year. Crude oil fell for several consecutive days at the beginning of the week, and cost support weakened. At the same time, PTA was faced with multiple device restart and downstream polyester into centralized maintenance. Under the pressure of supply and demand, the price of PTA continued to decline. The weekend was affected by the macro mood, and crude oil support increased slightly.

In terms of installations, Zhuhai BP 1 million 100 thousand tons PTA plant and Dushan energy 1 million 100 thousand ton PTA device have been restarted, and the current PTA operating rate is near 89%. Next week, yam grand 2 million 250 thousand tons of plant plans to restart, in addition, China and Thailand Petrochemical 1 million 200 thousand tons of equipment load 7, Hengli four phase 2 million 500 thousand tons of equipment, 1 million 250 thousand tons of lines put into operation, load increase.

There is a demand for stocking in the downstream polyester plant, and PTA spot trading activity has increased. The polyester plant overhaul increased load by about 75%. Next week, there is expected to be 2 million tons / year polyester plant maintenance is expected to start, will start to decline to below 72%. The market price of polyester filament keeps stable, among which the polyester POY150D/48F in Jiangsu and Zhejiang factories reported 7000.00-7450.00 yuan / ton, polyester DTY150D/48F reported 8600.00-9050.00 yuan / ton, polyester FDY150D/96F reported 7600.00-7950.00 yuan / ton. Near the Spring Festival, the textile enterprises entered the mode of suspension and vacation, and the comprehensive startup rate of Jiangsu and Zhejiang looms dropped to around 14%.

Xia Ting, a business analyst, said that the stocking before the festival will gradually come to an end. The downstream polyester factories will also be further overhauled. The terminal weaving and polyester start up will fall again, and demand will decline again. The pressure of PTA storage will intensify. However, the current crude oil production cycle and the macro level are favorable, which will form a certain support for PTA. Overall, it is expected that the price of PTA will be weak before the festival.