According to the price monitoring of business agency, the current price of domestic PTA continued to weaken slightly on September 2. The average price of spot market was 4821 yuan / ton, a one-day decrease of 1.83% and a year-on-year increase of 33.52%. The main futures 2201 closed at 4832, a decrease of 80 and a decrease of 1.63%.
In terms of unit, the 1.2 million ton PTA unit of Sinopec was originally planned to be restarted in early September, but now it is planned to be restarted for one week. The operating rate of the industry remains above 80%. At present, PTA has accumulated inventory and sufficient supply. The production and sales of polyester in the downstream are flat, and the start-up remains near 82%. There is no sign of start-up in the peak season of the terminal. The market mentality is cautious, and the demand for PTA is not strong, mainly small order transactions. Superimposed on the shock decline of crude oil, PTA cost support also weakened.
Business analysts believe that the current PTA market supply slightly exceeds demand, which suppresses the price. It is expected that the short-term market will continue to decline.
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