According to the price monitoring of the business agency, on April 20, the domestic PTA spot market price maintained a slight decline. The average spot market price was 3314 yuan / ton, down 0.90% compared with the previous trading day, down 49.42% year on year. The main futures market closed at 3412, down 64 or 1.84% from the previous trading day.
| EDTA 2Na |
At present, due to the centralized volume of transactions at the end of March, the spot liquidity supply is abundant, and PTA continues to maintain a high level of more than 92%, with relatively sufficient supply. In terms of plant, 340000 ton PTA plant of Tianjin Petrochemical Co., Ltd. was overhauled on April 17, and it is planned to be overhauled for one month. The 600000 ton PTA plant of Hanbang Petrochemical Co., Ltd. was restarted over the weekend. The 500 thousand ton PTA unit of Taiwan Ya Dong Petrochemical line 2 started to stop for maintenance today (April 20th) and is scheduled to be maintained until July.
Crude oil market, last week, due to OPEC + production reduction less than expected, but not enough to offset the sudden drop in demand caused by public safety and health prevention and control, the crude oil rally was blocked and fell. At the same time, with the sharp increase in U.S. crude oil inventory and the decline of 9.3 million barrels per day global oil demand, the oil market was bad news, and the cost support was insufficient. However, due to the surging demand of the global mask market, domestic polyester staple fiber, polyester chips and other downstream production and sales are picking up, PTA has been supported by the rising demand. At the same time, after the production and sales volume at the beginning of the month, the inventory pressure of polyester factory has been relieved, and the polyester profit has been maintained at a relatively good level at present, the unit maintenance plan has been reduced, and the polyester starting load has been maintained around 83%. However, the overall transaction atmosphere in the downstream polyester filament market continues to be light, and the prices of mainstream polyester factories in Jiangsu and Zhejiang are still stable. At present, the price of polyester poy150d / 48F is 5050-5350 yuan / ton.
Xia Ting, an analyst with business club, believes that the end support of crude oil’s sharp drop in cost has been weakened, the quotation of mainstream polyester factories in the downstream Jiangsu and Zhejiang regions has been temporarily stable, the overall production and sales performance is weak, the purchasing sentiment of weaving and texturing is still not high, and there is a possibility of further decline in the start-up of terminal links. Demand has cooled, PTA supply has continued to increase, and supply and demand pressure remains. PTA market is expected to continue to fluctuate and weaken.
| EDTA |