PX prices continue to push up the difficulty coefficient increase

PX prices continue to push up the difficulty coefficient increase. Jinling Petrochemical PX device when the restart is still unknown, South Korea’s SK 1 million 300 thousand tons / year PX unit plan at the beginning of November to restart, the current supply is still not high, and the downstream operating rate of PTA increased, the demand for construction of approximately 71%. In addition, the domestic refined oil prices ushered in the rise, aromatic market atmosphere can still cost is still strong, India concern whether a new device on time and put into production, is expected to PX market or stronger shocks, but the increase is limited.

PTA or will gradually tends to balance supply and demand. National Day, itsumori petrochemical and Hengli Petrochemical part of PTA device maintenance schedule, which makes the domestic PTA prices to rebound early, but with two sets of large equipment in mid October after gradually returned to normal, expected in late PTA domestic operating rate or will remain high level. As at present, in addition to the PTA unit of Jiangyin hanbon Petrochemical 600 thousand tons / year is not clear restart time, Sanfangxiang (market 600370, buy) Helen petrochemical plant is expected by the end of October or early November before and after the restart.

In addition, although the polyester in the traditional “golden nine silver ten” season, but the polyester industry operating rate has been about 80%, this also shows that the current downstream polyester plant procurement initiative is limited, weak end demand situation is difficult to change significantly. As expected, the beginning of the fourth quarter, the demand side of PTA being difficult to significantly boost prices.

Qiu Qianqian said, overall, National Day so far, domestic PTA prices boosted mainly by the rebound in crude oil prices and the main factory equipment maintenance, but limiting the production of crude oil uncertainty based uncertainty continues to rebound later. In addition, the relative balance of supply and demand is difficult to have a direct boost to PTA price, therefore, treasure island, short-term PTA market still depends on how crude oil. If the price of crude oil is not a sharp decline, PTA market or the continuation of a narrow range pattern, East spot to discuss price or at 4700~4780 yuan / ton range from mentioning.