Increase in supply and decrease in demand, PTA prices lack of power to continue to rise,

According to the price monitoring of the business agency, the current price of domestic PTA recovered slightly today (September 14). The average price in the spot market was 4890 yuan / ton, with a single day increase of 1.51% and a year-on-year increase of 39.85%; The closing price of 2201, the main futures, was 4946, up 2.11%.

For the overhaul of some PTA units, Honggang petrochemical 1#1.5 million ton and 2#2.4 million ton PTA units (half of which are under overhaul) are planned to start maintenance for about one week today. As of September 13, the operating rate of domestic PTA industry is around 81%, which is expected to decline in the later stage, so the PTA inventory accumulation speed is suspended. Superimposed on the rise of crude oil, the support for PTA cost was enhanced. As of September 13, the settlement price of the main contract in the U.S. WTI crude oil futures market was reported as $70.45/barrel, and the settlement price of the main contract in Brent crude oil futures market was reported as $73.51/barrel. Boosted by raw materials, the quotation of mainstream polyester factories in Jiangsu and Zhejiang in the downstream increased slightly, and some manufacturers increased by 50-100 yuan / ton, but the transaction continued to be light.

Business analysts believe that PTA is still expected to accumulate stocks slightly at present, and the operating rate of downstream polyester plants has fallen to 84%. Procurement is cautious. In the state of increasing supply and decreasing demand, PTA continues to rise, which is not driven enough. We still need to pay attention to the changes in the demand side of the “golden nine silver ten” in the later stage.

PVA