The Raw Material Market Is Expected To Fall And PTA Will Fall.
According to price monitoring, today, (18) the domestic PTA spot market price fell significantly, the average price was 6582 yuan / ton, compared with the previous trading day, the decline was 2.08%, up 17.27% over the same period.
Futures market, Zhengzhou PTA1909 contract opened at 6250 yuan / ton, the highest reported 6252 yuan / ton, the lowest reported 6004 yuan / ton, closing at 6004 yuan / ton, compared with the previous trading day fell 316 yuan / ton, or 5%.
The PTA device has not been overhauled, the spot market is weakening and the raw material market has plummeted, which has led to a sharp decline in PTA prices.
On the device side, it is expected that the short-term maintenance and restart will co-exist. The 2 million 200 thousand tonnes of Tong Kun equipment and the BP 1 million 250 thousand ton plant plan of Zhuhai will restart next week. The 325 thousand ton plant plan of Luoyang Petrochemical will be restarted next week, and the 650 thousand tons of Yizheng chemical fiber plant will be overhauled in the near future.
It is estimated that the PTA operating rate will increase from 80% to 85%, but there is no possibility of accidental maintenance.
Under the pressure of increased supply, Asian PX prices fell sharply. On the 17 day, the Asian PX market closed at $1020 / tonne CFR China and 1000 US dollars / ton FOB Korea, down 30 US dollars / ton compared with the previous trading day.
Downstream polyester market stability, as the cost is weak, bad sentiment is getting stronger, the mainstream factory prices in Jiangsu and Zhejiang are basically flat, of which polyester POY (150D/48F) price is 8900-9400 yuan / ton.
Xia Ting, a business analyst, believes that the collapse of PTA prices in Asia has led to the collapse of the cost side of PX. The market is worried that the follow-up raw material market will have lower expectations and supply side maintenance is not enough, and confidence is not enough. PTA is expected to fall back in the near future.
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