The Contradiction Between Supply And Demand Is Difficult To Improve And PTA Price Remains Weak

According to the price monitoring of the business agency, since the end of June, the domestic PTA market has shown a downward trend. On July 20, the price maintained a small decline. The average spot market price on that day was 3521 yuan / ton, down 0.50% compared with the previous trading day, and 45.33% lower than that of the previous trading day. In the futures market, PTA main futures (2009) fell to close at 3516, down 46 or 1.29% from the previous trading day.

In terms of units, the 2.2 million ton PTA plant of Jiaxing petrochemical company was shut down in the evening of July 12, planned to be overhauled for about 2 weeks, which was beneficial to the market. However, Fuhai Chuang 4.5 million ton PTA plant returned to full load on July 14, and the starting load of PTA industry was increased to 89%. At present, most of the PTA plants do not actively reduce the production cost of 600 yuan / ton. In terms of Dalian Hengli, the overall load has reached 2.5 million tons.

In the crude oil market, OPEC's output reduction effect is good, and the output reduction will be reduced according to the plan from August to September. US crude oil and refined oil stocks decreased, but world public health events continued, or hindered the recovery of demand. Therefore, the short-term oil price mainly fluctuated. The price of WTI main contract on the 17th was at $40.59/barrel, down $0.16/barrel from the previous day. With the restart of px.81% last week, some domestic and foreign units are expected to continue to increase their load. At the same time, the 1 million ton new unit of Dongying Weilian chemical is planned to be put into operation in August, and the 800000 tons of Sinochem Quanzhou are planned to be put into operation in December. The new production capacity is expected to put pressure on the price.

The performance of downstream terminal textile market was weak. Mainstream factories in Jiangsu and Zhejiang provinces fell by 100-150 yuan / ton. At present, the quotation of polyester POY (150D / 48F) is 4900-5300 yuan / ton, FDY (150D / 96F) is 5450-5600 yuan / ton, and DTY (150D / 48F low elasticity) is 6300-6800 yuan / ton. The terminal textile industry has entered the traditional off-season, the enthusiasm of raw material procurement is not high, and the transaction atmosphere is general. At the same time, with the gradual increase of temperature and the continuous increase of inventory pressure, downstream texturing, weaving, printing and dyeing industries have heard that some enterprises have parking and holiday plans, and the comprehensive starting rate of Jiangsu and Zhejiang looms has been reduced to less than 58%. At present, it is known that individual weaving and printing and dyeing enterprises in Shaoxing have started summer vacation mode.

Xia Ting, an analyst at the business agency, believes that the PTA new device is gradually running normally, and the start-up and inventory are both at a high level. Under the background of the terminal off-season, it is difficult to improve the contradiction between supply and demand in the PTA market, and it is expected that the short-term price will maintain a weak trend.