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SunSirs: Favorable Factors Boosted, China's PTA Futures Prices Rose Slightly
May 27 2021 10:24:05SunSirs(Linda)

On May 26, the domestic current price of PTA strengthened slightly. The average spot market price was 4703 yuan/ton, a single-day drop of 0.39%, and the main futures market 2109 closed at 4718 yuan/ton, an increase of 20 yuan/ton, or 0.43%.

At present, due to the adjustment of the installation load, the main PTA suppliers are reducing the supply of contract goods. It is reported that Yisheng's June contract will be reduced by 50%, and Hengli's June supply will be reduced by 40%. The current industry operating rate is maintained at around 83%. Hengli Dalian's 2.5 million tons PTA plant plans to start overhaul for two weeks on June 1. It is expected that supply and demand will continue to go to the warehouse.

The crude oil has been volatile recently, and there is still good support on the cost side. The downstream polyester market performance is flat. The production and sales of polyester filaments in mainstream factories are concentrated around 30%-60%, and individual better manufacturers can do the same. In terms of inventory, the overall polyester market inventory is concentrated in 12-25 days, of which POY inventory is 9-21 days, FDY inventory is around 12-16 days, and DTY inventory is around 15-28 days. The price is stable, and the quotations of individual factories are increased by 50 yuan/ton.

SunSirs analysts believe that the current spot market supply reduction, equipment maintenance expectations and crude oil boost, there are many favorable factors. However, the downstream polyester performance is not tepid, and the new PTA device is expected to be put into production, it is expected that the PTA price may fluctuate slightly upward in the future.

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

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