According to the price monitoring of the business agency, the domestic PTA market has maintained a small decline trend in the past week. As of August 20, the average market price was 3592 yuan / ton, down 1.22% compared with August 13 and 32.67% year-on-year. During the week, PTA shutdown and maintenance devices entered the restart stage one after another, with a small increment at the supply end. Although the terminal orders recovered, the market’s expectation for foreign trade weakened and the support from the demand side was insufficient. In addition, the market is still worried about crude oil demand, so it shows a weak downward trend.
| Benzalkonium chloride |
Production enterprise unit capacity (10000 tons / year) unit operation status
Huabin Petrochemical 140 plans to overhaul for 10-15 days in late August 2020
Yangzi Petrochemical 65 will be overhauled on August 6, 2020, and will be restarted on August 21
Hailun Petrochemical 120: August 2, 2020, overhaul for 1 month
Ningbo Taihua 120 will be overhauled on August 3, 2020 and restarted on August 20
Yadong Petrochemical 70 plans to overhaul for 3 days at the end of August 2020
Livan polyester 70 will be shut down on April 30, 2020, to be restarted
Restart of Hanbang Petrochemical on May 60, 2020
220. Reduce the negative rate by 50% on August 6, 2020 and resume on August 7, 2020
Honggang Petrochemical Co., Ltd. will stop short on August 10, 2020 and restart on August 17, 2020
Tianjin Petrochemical Company will shut down for maintenance on April 17, 2020, and restart to be determined
Luoyang Petrochemical Company will start maintenance for 27 days at the end of July 2020
Pengwei Petrochemical 90 will be shut down for maintenance on March 9, 2020, and restart to be determined
Fuhai Chuang 450 will reduce the load by 70% on August 12, 2020, and increase to about 90% on August 18, 2020
Jialong petrochemical company shut down for maintenance on August 2, 2019, restart time to be determined
| ferric sulfate (Poly ferric sulphate) |
In terms of PTA plant, 1.5 million tons of Honggang petrochemical and 1.2 million tons of Ningbo Taihua were warmed up and restarted on August 17 and 20, respectively. Fuhai hit 4.5 million tons, and the load rose to about 90% on August 18. Yangzi Petrochemical Co., Ltd. plans to restart on August 21. At present, the operating rate has been raised to around 87%, and the supply increase is expected to be detrimental to the market mentality.
At the same time, the inventory is still at a high level, because the current social inventory is still at nearly 4 million tons, and the continuous restart of the device leads to the limited duration of removal, so the pressure of PTA social inventory is still large. As of August 14, the domestic PTA social inventory was 3.92 million tons, a decrease of 65000 tons compared with the previous week, but a significant increase of 2.45 million tons compared with the same period in 2019.
The downstream Tongkun Hengchao 300 kt polyester plant was put into operation on Tuesday, and the start-up load was increased to more than 87%. Shaoxing Jiabao 400000 t polyester plant is expected to restart next week. At the same time, Hengyi Haining New Material Co., Ltd. is expected to put into operation at the end of the month. Yizheng Chemical fiber’s remaining 50000 tons of polyester staple fiber is planned to be put into operation at the end of the month, and Chenggao’s 600000 ton bottle chips are planned to restart at the end of the month. Overall, polyester will be further improved. In terms of inventory, the overall inventory of polyester market is concentrated in 33-40 days; in terms of specific products, POY inventory is up to 11-18 days, FDY inventory is around 22-32 days, and DTY inventory is about 30-40 days. The market price of polyester filament is stable and weak this week, among which the price of polyester poy150d / 48F of mainstream factories in Jiangsu and Zhejiang is 5050-5450 yuan / ton. The terminal just needs to be purchased is not good, and the transaction is mainly light. The comprehensive starting rate of Jiangsu and Zhejiang looms is around 63%, which is low compared with the same period last year. Recently, there are many kinds of knitted fabrics hanging samples on the traditional market of China Light Textile City, but the number of patterns on the spot is still relatively limited. Among them, small jacquard strips and small diamond lattice double-sided sweater fabrics with polyester bright FDY, semi light FDY, DTY and POY as the main raw materials are increased.
Xia Ting, an analyst at the business agency, believes that the negative side of the demand side has always been the biggest resistance to the rise in oil prices. The market still has some worries about crude oil demand, and the oil price will consolidate at a high level. PTA plant restart heating, loose supply expectations, high inventory. However, with the restart of polyester plant, the terminal order has also improved, and the demand side will improve. Therefore, overall, PTA prices are expected to remain narrow next week.
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