According to the price monitoring of SunSirs, the spot market prices of PTA in China continued to weaken slightly. As of December 23, the average market price was 4,855RMB/ton, down 0.70% compared with the previous trading day, down 25.81% year on year. The weak futures market adjusted to close at 4,880RMB/ton, down 34RMB/ton or 0.69% from the previous trading day. The buying is dominated by traders and the trading atmosphere is light. At present, the starting load of PTA is 93.59%, and Yisheng Petrochemical Co., Ltd. has announced the maintenance plan of PTA unit in the first quarter.
Changes in domestic mainstream PTA plants
|
Enterprwase Name |
Device Capacity |
Device’s Recent Change |
|
Hailun Petrochemicals |
120 |
Overhaul in this week |
|
Chuanneng |
100 |
In a short shutdown on November 1, 80% load now |
|
Yisheng Dahua |
225 |
Planned maintenance from the end of December to the middle of January |
|
Ningbo Yisheng |
220 |
Planned maintenance from the end of January to the middle of February |
|
Hainan Yisheng |
200 |
Planned maintenance from the end of February to the middle of March |
|
Jialong Petrochemical |
60 |
In shutdown and overhaul (Aug 2); Restart to be determined |
In terms of cost, crude oil fell. As of December 20, the main futures price of international crude oil WTI was 60.44 USD per barrel, down 0.78 USD per barrel compared with the previous trading day, and the main futures price of Brent was 66.14 USD per barrel, down 0.40 USD per barrel compared with the previous trading day. The PX market in Asia closed at $805/T FOB South Korea and $825/T CFR China, up $3/T from the previous trading day. Affected by the weakness of raw materials, the enthusiasm of downstream inquiry has been
reduced. The polyester factory has reduced production, and the starting load has been reduced to 83%. The quotation of mainstream polyester filament factory in Jiangsu and Zhejiang is basically stable, and it is mainly cautious to wait and see. The price of polyester FDY (150D / 96F) is 7,250-7,600.00RMB/ton. In terms of textile terminal, in the late December, the stock of downstream enterprises is still reduced, and the market orders continue to weaken. The comprehensive starting rate of Jiangsu and Zhejiang looms is about 67.00%, and the manufacturer's production enthusiasm is not as good as that in the early stage.
SunSirs analysts believe that PTA plant announced the overhaul plan, but due to the fall of crude oil, chemicals were frustrated, and PTA new production capacity is close to production, downstream procurement cautious. In addition, the holiday time of this year is earlier than that of previous years, and the market atmosphere will be further reduced. With the increase of holiday manufacturers, the market will be more difficult to boost. There is a lack of obvious favorable stimulation in the fundamentals, and PTA price is expected to be weak.
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