According to the price monitoring of business agency, the domestic PTA market fell today (November 3). The average price in the spot market was 5057 yuan / ton, down 2.09% from the previous day and up 55.49% year-on-year. The main force of PTA futures 2201 closed at 5088 and settled at 5152, down 134, or 2.57%.
In terms of supply and demand, Sichuan energy investment 1 million tons and Hengli Petrochemical 2.2 million tons of units have been overhauled successively, and the industrial starting load is around 82. However, at present, PTA stock is sufficient, and there is not much device maintenance before the end of the year.
On November 2, the international oil price closed slightly lower. The settlement price of the main contract of WTI crude oil futures in the United States was US $83.91/barrel, down US $0.14, and the settlement price of the main contract of Brent crude oil futures was US $84.72/barrel, up US $0.01. The market is waiting for the outcome of the meeting of the organization of Petroleum Exporting Countries (OPEC) and its allies on Thursday. In addition, the rise of US commercial crude oil inventories is expected to heat up and curb the upward pace of oil prices.
At present, the power restriction of the industrial chain is relaxed, and the operating rate of the downstream polyester plant has slightly rebounded to more than 80%. However, due to the impact of terminal demand, it is still difficult for the operating rate to return to the previous high.
Business analysts believe that the current pattern of crude oil supply and demand is good, and the cost side still has good support. However, the wait-and-see atmosphere of downstream factories is aggravated, and the purchase enthusiasm is not high, which aggravates the speed of PTA inventory accumulation. Therefore, in the short term, PTA price shock is likely to weaken slightly.
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