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SunSirs: Supported by Favorable Downstream Factors, Can the PA Market "Recover"?
February 05 2021 13:46:11SunSirs(John)

Price trend

According to the monitoring of SunSirs, the domestic PA market price trend was temporarily stable in early February. As of the 4th, the price of PA was 5,725 RMB/ton. The price trend of PA has remained stable recently. The spot supply on the market is normal, and the market price of PA is firm.     

Analysis review

Recently, the market price of PA has been stable, the market sales of PA have been normal, and the downstream demand has been normal recently, the price of PA has been stable, the market for plasticizers has improved, and the price of PA has remained deadlocked. Domestic PA manufacturers have maintained a low level of operation. The operating rate of PA is about 60%. The domestic PA spot supply is slightly tight. The price of PA on the market is firm. The downstream plasticizer industry industry slightly rises. The actual transaction is not significantly positive, and the price trend of PA is temporarily stable. The price trend of the PA market in East China is temporarily stable, and high-end transactions on the market are limited. The main source of PA produced by OX negotiation in East China is 5,800-6,000 RMB/ton, and the mainstream of PA produced by naphthalene snegotiation is 5,500-5,600 RMB/ton; The mainstream quotation of the PA market in North China is 5,600-5,800 RMB/ton. The PA market still has a wait-and-see mentality, and downstream purchases have not increased significantly. The recent rise in downstream DOP prices has given the PA market a certain positive support, but the PA market price trend is temporarily stable.

Recently, the domestic price of OX has stabilized temporarily, and the on-site price has remained at the level of 4,700 RMB/ton. The low domestic price of OX is a negative impact on the PA market. In addition, the imported OX market in the port area has maintained a low level, the quotation has not changed much, the actual transaction price is subject to negotiation, the actual order is discussed in detail. In addition, the OX merchants on the market have a strong wait-and-see sentiment, the price of OX fluctuates at a low level.

In early February, the downstream DOP market price of PA continued to rise. According to the monitoring of SunSirs, the domestic DOP price was 9,955 RMB/ton as of the 4th. The on-site 2-EH price rebounded and the DOP raw material cost fluctuated to fall. The DOP enterprise equipment started temporarily stable, and PVC Prices fluctuated and rebounded, and downstream customer demand had recovered from low levels. The upward momentum of the plasticizer market has increased and the downward pressure is weak. The transaction price is subject to real-time prices. The overall DOP price is around 9900-10400 RMB/ton. The market outlook for the DOP market will increase. Domestic PA may rise slightly due to the support of downstream prices.

Market outlook

Taking a comprehensive look at the recent increase in crude oil prices, coupled with the improvement in the downstream plasticizer industry, the PA market is supported by the positive, and it is expected that the PA market price may usher in a slight increase in the later period.

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