Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic PTMEG price had slightly decreased this week. As of March 19th, the PTMEG price was 20,600 RMB/ton, and on March 12th, the PTMEG price was 20,933 RMB/ton, a decrease of 333 RMB/ton, a month on month decrease of 1.59%.
In terms of equipment
Henan Nenghua has two sets of PTMEG devices with an annual load of 30,000 tons, accounting for 70-80%. The load of the 46,000 tons/year PTMEG unit for extending oil production was not high. Zhejiang Sanlong PTMEG has a production capacity of 85,000 tons/year and the device was operating steadily. As of March 19th, the overall operating rate of the domestic industry was stable around 86.2%, an increase of 9.8% year-on-year.
Upstream
From the perspective of the upstream raw material market of PTMEG, the BDO market fluctuated this week, with a current price of 9,428 RMB/ton. Recently, some devices had undergone maintenance and restarted, leading to an increase in industry load and an increase in market supply.
In terms of demand
The main downstream spandex price was 30,625 RMB/ton, a decrease of 1.33% from last week and 1.57% from the beginning of the month. Terminal manufacturing factories generally indicate that customer inquiries were positive, but it is difficult to complete orders, with small batch orders being the main focus of new foreign trade orders. The overall wait-and-see attitude was obvious. The PU and TPU industries in the polyurethane field had seen a rise in market trends, but the purchasing willingness was not strong.
Market outlook
The operating rate had increased, with significant support from the supply side. However, there was temporarily no positive expectation for downstream demand at the terminal, and the supply-demand contradiction continued. The overall market situation was stagnant and consolidating. It is expected that the PTMEG market will experience a narrow consolidation.
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