According to the price monitoring of business agency, the domestic PTA market rebounded slightly today (December 7). The average price in the spot market was 4563 yuan / ton, up 1.56% from the previous day and 30.19% year-on-year. PTA futures 2201 closed at 4606, up 120, or 2.67%.
In terms of plant, Fujian Baihong 2.5 million ton PTA plant is planned to start maintenance for three weeks on December 1. The 700000 ton PTA unit of Shanghai Yadong Petrochemical was overhauled on December 2 and restarted on December 31. In addition, the 1.1 million ton PTA plant of Ineos (Zhuhai) is planned to be overhauled for two weeks at the end of December. The overhaul plan of PTA plant is increased, and the current operating rate of the industry is reduced to less than 75%.
On December 6, international oil prices rose sharply. The settlement price of the main contract of us WTI crude oil futures was US $69.49/barrel, up US $3.23 or 4.87%, and the settlement price of the main contract of Brent crude oil futures was US $73.08/barrel, up US $3.20 or 4.57%. South Africa reported that the symptoms of local Omicron infection cases were mild, after the market was worried about undermining oil demand and oil prices ushered in a retaliatory rebound. In addition, the Iranian nuclear negotiations are at an impasse, the possibility of Iranian oil returning to the market is reduced, and crude oil is also supported to a certain extent.
Downstream polyester factory promotion, the price of polyester filament in mainstream factories in Jiangsu and Zhejiang was reduced by 100-300 yuan / ton. Because there is no obvious cooling in southern China, the sales of winter clothes are less than expected, and the shipment speed of thick fabrics such as velvet slows down. Superimposed on concerns about whether the epidemic situation will continue in the coming year, some weaving factories are cautious in production and inventory. The weaving Market is generally flat, and some dyeing factories have plans to have a holiday this month. At present, the comprehensive startup rate of Jiangsu and Zhejiang looms is around 65%.
Business analysts believe that the shock rise of crude oil has boosted and cost support has increased. In addition, there have been a lot of maintenance of PTA units recently, and the restart time of Honggang phase II has been postponed to January. The short-term supply has been tightened periodically, which is good for PTA. However, due to the weak demand, the short-term PTA price will fluctuate and recover in a narrow range.
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