According to SunSirs price monitoring, the domestic PTA spot market price maintained a slight decline on August 18. The average spot market price of the day was 3,619 yuan/ton, down 0.06% from the previous trading day and down 32.13% year-on-year. PTA main futures (2101) closed slightly, until the closing main futures closed at 3,762, down 6 from the previous trading day.
In the PTA market, traders mainly bought orders, and the spot trading atmosphere was not good. In terms of installations, the PTA installations of Honggang and Ningbo Taihua are heating up and restarting. Yangzi Petrochemical's installations are also planned to restart this Friday. The supply will increase again, which is bad for the market mentality. The current PTA operating load is around 83%.
The new polyester equipment put into production in the downstream stage is operating normally, and the demand performance is relatively stable. The polyester operating load is 87.68%. In terms of inventory, the overall polyester market inventory is concentrated in 33-40 days. In terms of specific products, POY inventory is around 11-18 days, FDY stock is around 22-32 days, and DTY stock is around 30-40 days. In terms of prices, polyester filament prices fluctuated upward from the end of July to early August, and the cash flow of POY and FDY gradually improved. So far, some models of FDY have turned losses into profits. Considering that the price of polyester filament is currently at a historically low point, if there is no financial pressure on the texturing and weaving enterprises, they still have the willingness to buy. If the raw materials are properly promoted, downstream users will still consider bargaining for stocking.
Terminal orders have improved, and the comprehensive operating rate of looms in Jiangsu and Zhejiang has risen to 63.30%, but is at a low level year-on-year. The sales of summer thin fabrics in China Textile City continued to decline, and many suppliers in the domestic market continued to increase their samples for autumn and winter fabrics, and orders partially increased. The foreign trade market, especially the arrival of autumn and winter fabric orders, gradually opened up the situation, and sales began to increase partially.
SunSirs analysts believe that with the restart of some devices, PTA supply is expected to be loose, and the industrial chain inventory is high, there are still concerns about the low season of terminal domestic sales and foreign sales. Therefore, it is expected that PTA prices will weaken in the short term.
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