According to the price monitoring of the business association, on May 26, the current price of domestic PTA slightly strengthened. The average price of the spot market was 4703 yuan / ton, down 0.39% in a single day. The main futures 2109 closed at 4718 yuan / ton, up 20 yuan / ton, or 0.43%.
At present, due to the adjustment of plant load, the main PTA suppliers are reducing the supply of contract goods. According to news, Yisheng contract reduced by 50% in June and Hengli supply reduced by 40% in June. At present, the operation rate of the industry remains around 83%. Hengli Dalian 2.5 million tons PTA plant is scheduled to start maintenance for two weeks on June 1, and it is expected that supply and demand will continue to go to the warehouse.
In the near future, crude oil fluctuated strongly, and the cost side still had good support. Downstream polyester market performance is flat, mainstream polyester production and sales are concentrated in 30% – 60%, individual better manufacturers can do flat. In terms of inventory, the overall inventory of polyester market is concentrated in 12-25 days, of which POY inventory is 9-21 days, FDY inventory is about 12-16 days, and DTY inventory is about 15-28 days. The price is mainly stable, and the quotation of individual factories is increased by 50 yuan / ton.
Xia Ting, an analyst at business news agency, believes that there are many positive factors, such as the decrease of supply in the current spot market, the expectation of equipment maintenance and the boost of crude oil. However, the performance of downstream polyester is tepid, and the new PTA plant is expected to be put into production. It is expected that PTA price will fluctuate slightly in the future, and the possibility of upward trend is relatively large.
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