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PTA Plant Maintenance Increases, Short-Term Price Shock Is Strong

2021/4/8 11:06:00 0

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.