According to the Commodity Market Analysis System of Shengyi Society, the domestic PTA spot market has shown a downward trend since August. As of August 18th, the average price of PTA in the East China region was 4720 yuan/ton, a decrease of 2.09% from the beginning of the month.
In terms of PTA equipment, Taihua and Hainan have shut down, while Weilian and Jiaxing have restarted. The shutdown of the equipment has been reduced for continued maintenance, and the overall supply has rebounded. The 3.2 million ton unit of Hailun Petrochemical was tested and discharged at the end of July, gradually increasing its load, and the overall operating rate of the industry remained around 76%.
The peak season for traditional fuel consumption in the United States is coming to an end, and supply side risks have not been eliminated. International oil prices are mainly experiencing weak fluctuations in the short term. As of August 15th, the settlement price of the September WTI crude oil futures contract in the United States was $62.80 per barrel, and the settlement price of the October Brent crude oil futures contract was $65.85 per barrel.
The space for downstream polyester load recovery is limited, and under the constraint of high weaving inventory, seasonal hoarding has not shown significant improvement. Polyester factories still have expectations for the traditional peak season, but it is difficult to achieve sustained replenishment without widespread demand recovery. Maintain a wait-and-see atmosphere overall, with a focus on essential procurement.
Business analysts believe that the current PTA new plant is put into operation, with a slight increase in the supply side. In addition, the international oil price performance is sluggish, the cost center continues to decline, and coupled with the overall weak trend of commodities, it is expected that PTA prices will continue to fluctuate and decline.
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