The latest price of PTA (February 23): 5619 RMB/ton is bullish in the future
Key points of analysis: On February 22, PTA spot price rose 1.56% from the previous day and 2.28% year-on-year. Under the low processing cost, PTA device production reduction and maintenance helped PTA spot market rise. Driven by the improvement of market sentiment, the enthusiasm of terminal inquiry increased significantly, and the margin of PTA supply and demand improved. However, from the perspective of terminal orders, it is common, so the continuity of follow-up needs to be observed.
Future forecast: PTA deposit and supply are expected to tighten. With the peak season of "gold, silver and silver" coming soon, the market's expectation of demand is still relatively optimistic, and short-term PTA price shocks are strong.
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