According to the price monitoring of the business agency, the spot market price of PTA in China continued to weaken slightly. As of December 23, the average market price was 4855 yuan / ton, down 0.70% compared with the previous trading day, down 25.81% year on year. The weak futures market adjusted to close at 4880 yuan / ton, down 34 yuan / ton or 0.69% from the previous trading day. The buying is dominated by traders and the trading atmosphere is light. At present, the starting load of PTA is 93.59%, and Yisheng Petrochemical Co., Ltd. has announced the maintenance plan of PTA unit in the first quarter.
Changes of PTA plants in China
Enterprise name capacity (10000 tons / year) device dynamics
Yishanhua 225 planned to be overhauled from the end of December to the middle of January
Ningbo Yisheng 220 planned to be overhauled from the end of January to the middle of February
Hainan Yisheng 200 plans to overhaul from the end of February to the middle of March
Hailun Petrochemical 120 plans to enter maintenance this week
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Chuanneng chemical 100 stopped short on November 1, and the current load is 80%
Jialong Petrochemical 60 shut down for maintenance on August 2, and restart to be determined
In terms of cost, crude oil fell. As of December 20, the main futures price of international crude oil WTI was 60.44 USD / barrel, down 0.78 USD / barrel compared with the previous trading day, and the main futures price of Brent was 66.14 USD / barrel, down 0.40 USD / barrel compared with the previous trading day. The PX market in Asia closed at $805 / T FOB South Korea and $825 / T CFR China, up $3 / T from the previous trading day. Affected by the weakness of raw materials, the enthusiasm of downstream inquiry has been reduced. The polyester factory has reduced production, and the starting load has been reduced to 83%. The quotation of mainstream polyester filament factory in Jiangsu and Zhejiang is basically stable, and it is mainly cautious to wait and see. The price of polyester FDY (150D / 96F) is 7250-7600.00 yuan / ton. In terms of textile terminal, in the late December, the stock of downstream enterprises is still reduced, and the market orders continue to weaken. The comprehensive starting rate of Jiangsu and Zhejiang looms is about 67.00%, and the manufacturer’s production enthusiasm is not as good as that in the early stage.
Xia Ting, an analyst with business club, believes that PTA plant announced the overhaul plan, but chemical products were frustrated due to the fall of crude oil, and PTA’s new production capacity was approaching, so downstream procurement was cautious. In addition, the holiday time of this year is earlier than that of previous years, and the market atmosphere will be further reduced. With the increase of holiday manufacturers, the market will be more difficult to boost. There is a lack of obvious favorable stimulation in the fundamentals, and PTA price is expected to be weak.
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