According to the price monitoring of business associations, the price decline of PTA spot market in China slowed down on August 7, falling 0.21% from the previous trading day and 27.36% from the same period last year. Futures market shocks adjusted, the main futures (1909) closed at 5148 yuan/ton, up 2 yuan/ton from the previous trading day, an increase of 0.04%. In the import market, PTA US$offer refers to US$680-700 per ton, while the supplier of one-day tour source reports US$730-760 per ton. No public transaction has been heard yet.
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Recent PTA device changes:
Enterprise Name, Capacity (10,000 tons) Device Dynamics
Livan polyester 70 July 27 Parking for reasons, restart pending
Jiaxing Petrochemical Company stopped short on July 27 and restarted in early August
Fuhua Chemical Trade Restarted on August 1, 450
Yizheng Chemical Fiber 35. 45 Days of Parking and Maintenance on August 1
Jialong Petrochemical Co. Ltd. Parking overhaul for 2 weeks on August 2
Hengli Petrochemical 220 plans to overhaul the No. 1 production line in August, and the overhaul time is about 15 days.
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In August, PTA plant restart and overhaul coexist. Fuhua Chemical Trade 4.6 million tons, Jiaxing Petrochemical 1.5 million tons restart, Yizheng Chemical Fiber 350,000 tons, Jialong Petrochemical 600,000 tons stop and overhaul one after another. At present, PTA start-up load is maintained near 95%.
Cost side is still weak. The closing price of WTI main futures for international crude oil on August 6 was 53.63 US dollars per barrel, down 1.06 US dollars per ton from the previous trading day, and the closing price of BRENT main futures was 58.94 US dollars per barrel, down 0.87 US dollars per ton from the previous trading day. Domestic PX price trend is stable, maintained near 7000 yuan/ton. The Asian PX market closed at $773/ton for FOB Korea and $793/ton for CFR China, down $5/ton from the previous trading day.
Start-up Change of PTA Industry Chain Related Products
Downstream polyester cash flow improved, profits recovered, some parking plants restarted, start-up load increased to 84%, there is a short-term replenishment action. But the textile terminal orders are still cold, just need careful purchase. The comprehensive starting rate of looms in Jiangsu and Zhejiang is 62%. The production and marketing of polyester is low and preferential promotion is dominant. The prices of mainstream factories in Jiangsu and Zhejiang are reduced by 100-200 yuan/ton. Among them, polyester POY (150D/48F) is between 7600-7750 yuan/ton, polyester FDY (150D/96F) is between 7700-8200 yuan/ton, and polyester DTY (150D/48 yuan/ton). F low bomb) at 8950-9250 yuan/ton.
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Business analyst Xia Ting believes that demand is expected to improve due to the slight increase in downstream polyester start-up, which will support PTA in the short term. However, the persistence of resumption needs to be verified, as well as factors such as weakness of cost side and uncertainty of macro environment, PTA prices will remain weak.