PTA Plant Maintenance Increases, Short-Term Price Shock Is Strong
According to the price monitoring, the domestic PTA spot market price fluctuated and rebounded. As of April 7, the average price of the spot market was 4513 yuan / ton, up 1.28% compared with the previous trading day, and 33.83% higher than that of the previous trading day. PTA main futures (2109) closed up and closed at 4662, up 104 or 2.28% from the previous trading day.
Maintenance enterprises | Maintenance scale (10000 tons / year) | Maintenance |
Tianjin Petrochemical | thirty-four | Maintenance on April 17, 2020 |
Pengwei petrochemical | ninety | Stop at night on March 9, 2020, restart time to be determined |
Shanghai Petrochemical | forty | Stop for maintenance from February 20 to May 19, 2021 |
Huabin petrochemical | one hundred and forty | Overhaul from March 6 to April 10, 2021 |
Zhongtai petrochemical | one hundred and twenty | It will be stopped at night on March 7, 2021, and the restart time is to be determined |
Ineos (Zhuhai) | one hundred and twenty-five | It will be overhauled on March 17, 2021, and the restart time is to be determined |
Sichuan energy investment | one hundred | April 1, 2021, overhaul for 20 days |
Jiaxing petrochemical | one hundred and fifty | April 1, 2021, overhaul for 15-20 days |
Fujian Baihong | two hundred and fifty | Maintenance will start at night on April 2, 2021 for about 7 days |
Dushan energy | two hundred and twenty | It is planned to be overhauled from April 13 to 27, 2021 |
Livan polyester | seventy | It is planned to be overhauled in May 2021 |
Ningbo Yisheng | sixty-five | It is planned to be overhauled in the second quarter of 2021 |
Hengli Petrochemical 1# | two hundred and twenty | Scheduled maintenance time to be determined |
Hengli Petrochemical 5# | two hundred and fifty | Scheduled maintenance time to be determined |
PTA processing is at a relatively low level, and plant maintenance is increasing. At present, PTA plant starts to drop below 80%, and the supply side will continue to shrink in April. In terms of demand, the recent trading performance of polyester market was flat, but the start-up of polyester factories and terminal looms remained high, with a high starting load of more than 91% and a good demand for raw materials. PTA social inventory fell for the fifth consecutive week, with inventory falling below 4 million tons for the first time since February. As of April 2, PTA social inventory was 3.9762 million tons, decreased by 64100 tons compared with March 26, but increased by 746200 tons compared with the same period in 2020.
Analysts believe that the improvement of PTA supply and demand in the short term will support the market, but the international oil price is facing greater pressure in the near future, and the terminal is cautious about polyester purchasing sentiment, forming a constraint on PTA price, and it is expected that the short-term price will run with strong shock.
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