Demand Decline Superimposed New Capacity PTA Market Continues To Fall

According to the price monitoring of business associations, the price of domestic PTA spot market continued to decline slightly in November 27th, and the average price of the market was 4838 yuan / ton, down 0.62% from the previous trading day, down 22.04% from the same period last year. Futures market main futures (2001) closed at 4746 yuan / ton, compared with the previous trading day fell 40 yuan / ton, or 0.84%. Intra day turnover lightens 302 thousand and 100 to 879 thousand and 700 hands and positions 13378 to 1 million 415 thousand and 200.

Shanghai Ya Dong petrochemical and Yisheng Hainan PTA plant has been restarted and the operating rate has been raised to around 95%. The Dushan energy phase 2 million 200 thousand ton PTA plant has been put into operation in another 1 million 100 thousand tons. Under the influence of new supply pressure, the PTA market has maintained a downward trend.

In terms of cost, the closing price of PX market in Asia dropped by 1 US dollars / ton, closing at 771 US dollars / ton FOB Korea and 791 US dollars / ton CFR China. The downstream mainstream polyester plant has been overhauled, so demand is weakening. The market of polyester filament has steadily declined, and some mainstream factories in Jiangsu and Zhejiang provinces have reduced the polyester POY (150D/48F) by 50 yuan / ton, which reported 6900.00-7250.00 yuan / ton. DTY (150D/48F low elastic) reported 8500.00-8750.00 yuan / ton, FDY (150D/96F) reported 6950.00-7250.00 yuan / ton, price stability is the main. The combined boot rate of Jiangsu and Zhejiang looms is around 74%, and the terminal factories are now making Christmas orders abroad. Orders are basically coming to an end, and part of orders for next spring and summer have been issued, but orders are not large, and products are generally at a low speed.

Xia Ting, a business analyst, thinks that pet repair has increased this week. Especially in late December to January, the polyester plant has a large maintenance plan, and the terminal textile enterprises will gradually reduce their orders with the December. Therefore, it is expected that the load of Jiangsu and Zhejiang looms is expected to decline, and the demand side of PTA will be affected. And by the current PTA new capacity to suppress the impact of a comprehensive view, the market is expected to continue to weaken the possibility of greater.