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SunSirs: Fundamentals are still Bad, PTA will Remain Weakly Adjust
September 26 2019 19:05:51SunSirs(Linda)

SunSirs: Sep 25

According to SunSirs’ price monitoring, the PTA price in the domestic spot market drops slightly. The average price is 5,147RMB/t on Sep 25, 0.79% lower than that of the last trading day and 35.79% lower compared with the same period of the previous year. The closing price of TA2001 is 5,144RMB/t, 0.27% (14RMB/t) lower than that of Sep 24.

Enterprise Name

Device Capacity

Device’s Recent Change

Jialong Petrochemicals

60

In shutdown and overhaul (Aug 2); Restart date to be determined.

Chuanneng Chemistry

100

In shutdown and overhaul (Sep 18), planned for a week.

Pengwei Petrochemicals

90

In shutdown and overhaul (Sep 19), planned for a week.

Reignwood Petrochemicals

140

In shutdown and overhaul (Sep 20), planned for 5 to 6 days.

Hengli Dalian

220

In shutdown and overhaul (beginning of Oct), planned for 15 days.

Honggang Petrochemicals

150

In shutdown and overhaul (Oct 14).

Hanbang Petrochemicals

220

In shutdown and overhaul (Oct 25), planned for 15 to 20 days.

 

With the overhaul of PTA devices, the load decreases to around 90%. But the spot transaction atmosphere declines, polyester plants and traders are the main buyers. Saudi oil supplies are recovering and the cost support is weakening, On Sep 24, the closing price of Asia's PXCFR China is 803USD/t, 4USD lower than that of the previous trading day. Downstream polyester’s start-up load was near 89%, mainstream polyester factories continue to negotiate concessions, some has a discount of 50-100RMB/t. The price of polyester POY (150D/48F) is 7,550-7,950RMB/t, the price of DTY (150D/48F low elasticity) is 9,150-9,400RMB/t and the price of FDY (150D/96F) is 7,750-7,950RMB/t. The overall operating rate of looms in Jiangsu and Zhejiang is around 78%. The terminal market’s cautious wait-and-see mood do not decrease, the inventory of grey fabric digests slowly.

Analysist from SunSirs believes that the overhaul news of PTA factories can support the prices partly, but the fundamentals are still bad. PTA is expected to adjust weakly in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

 

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Energy
Chemical
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