According to the price monitoring of business associations, PTA spot market prices in China rose slightly today (September 3). The average market price was 5193 yuan/ton, up 0.17% from the previous trading day and down 44.46% from the previous year. Main futures rebounded, closing at 516 yuan/ton in 2001, up 24 yuan/ton, or 0.47% from the previous trading day.
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Hengli Petrochemical, the mainstream PTA plant, is scheduled to overhaul the No. 1 2.2 million ton PTA production line in mid-September with a maintenance time of about 15 days. As soon as the news came out, the market was boosted and the current start-up load was maintained at 94%. However, due to the planned overhaul of the market rebound support is relatively limited, the trading atmosphere declined, mainly traders to buy, sporadic polyester factories follow up. Asia PX (CFR China) closed at $778 per ton on September 2, down $10 per ton from the previous trading day. Downstream polyester start-up load slightly declined to 89%, the profit of end-weaving elastic enterprises is not optimistic. The comprehensive start-up rate of Jiangsu and Zhejiang looms is near 78%, the purchase and stock sentiment is general. The prices of Main polyester factories in Jiangsu and Zhejiang are stable, POY is down 100 yuan/ton individually. At present, the price range of POY150D/48F market is 7600-7950 yuan/ton.
Business analyst Xia Ting believes that although there are good incentives for major plant maintenance plans, but the current market is full of mobile goods, and raw materials and demand side is not optimistic, PTA prices are expected to remain mainly vulnerable adjustment in the short term.
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