According to the price monitoring of business club, the current price of PTA rose slightly today (October 18). The average price in the domestic market was 5543 yuan / ton, up 0.53% yuan / ton compared with the previous day, up 60.63% year-on-year. The main futures 2201 closed 5568, up 76, or 1.38%.
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With the gradual restart of some PTA units and sufficient spot supply, the overall operating load of domestic PTA units has increased to more than 72%. Among them, the 3.75 million ton unit of Yisheng Dalian was discharged on October 15, and the load has been increased at the weekend; Baihong’s 2.5 million ton unit began to increase the load on October 15. At present, it is basically normal.
International crude oil remained at a high level, which boosted PTA costs. As of October 15, the settlement price of the main contract of WTI crude oil futures in the United States was US $82.28/barrel, and the settlement price of the main contract of Brent crude oil futures was US $84.86/barrel. In the short term, winter demand will continue to be good, and the oil market may run strong. In addition, unplanned production reduction and shutdown events occurred in PX units in many Asian countries, and the PX market price (CFR China) was US $969-971 / ton, with a daily increase of US $17 / ton.
During the rotating maintenance and opening of the downstream polyester unit, some units recovered slightly after the production reduction of some units, and the domestic comprehensive load rose to about 80%. In addition, driven by the limited power production policy and the start of terminal demand, the destocking is obvious, and the profit situation has been repaired. In terms of price, the mainstream polyester factories in Jiangsu and Zhejiang rose about 100-200 yuan today. In the terminal market, affected by the continuous rise of raw materials, the resistance of downstream enterprises is gradually heating up, mainly taking goods cautiously.
Business analysts believe that from the perspective of supply and demand, the supply increases, the demand follow-up is limited, and there is an accumulation trend in short-term PTA. However, crude oil still has an upward driving force, which supports PTA well. It is expected that PTA market will still maintain a narrow upward trend.
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