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SunSirs: Increasing Device Maintenance Lead to PTA’s Small Rebound
November 15 2019 13:08:11SunSirs(Linda)

According to the price monitoring of SunSirs, the spot market price of PTA rebounded slightly. On November 14, the average market price was 4,762RMB/t, increasing 0.02% compared with the previous trading day, decreasing 29.08% year on year. The trading atmosphere was light, and the buyers were mainly traders and suppliers. The futures market was warm and volatile, and the main futures (2001) closed at 4,706RMB/t, 0.30% (14RMB/t) higher than the previous trading day. Daily trading volume increased by 316,900 lots to 12,811,000 lots, and the position increased by 9,462 lots to 1,725,200 lots.

In terms of devices, on the 13th, the 1.2 million ton PTA device of Ningbo Taihua was shut down for maintenance due to faults, and it is planned to restart within 4-5 days. Shanghai Yadong Petrochemical Co., Ltd. plans to restart the 700,000 tons PTA device around November 27 after shutdown for maintenance. Up to now, the starting load of PTA is 91%.

Changes in domestic mainstream PTA plants

Enterprise Name

Device Capacity (10,000 t/year)

Device’s Recent Change

Jiaxing Petrochemicals

150

Nov 12, in shutdown and overhaul for 2 weeks

Ningbo Taihua

120

Nov 13, in a short shutdown due to faults

Shanghai Yadong

70

Nov 13, in shutdown and restart on Nov 27

Pengwei Petrochemicals

90

Oct 30, 50% load

Chuanneng

100

In a short shutdown on Nov 1, 80% load now

Jialong Petrochemical

60

In shutdown and overhaul (Aug 2); Restart on Nov 15

Hailun Petrochemicals

120

Overhaul in Dec

The raw material market has formed a good support for PTA. The decline of crude oil inventory has pushed up the international oil price. On November 13, the closing price of WTI main futures of international crude oil was 57.12USD/barrel, 0.32USD/barrel higher than the previous day, and the closing price of Brent main futures was 62.37USD/barrel, 0.31USD/barrel higher than the previous day. The closing price of PX market in Asia was 768USD/t (FOB South Korea) and 788USD/t (CFR China), 4USD/t higher than the previous day.

The downstream polyester production and sales are light, and the market is once again in a cold phase. The quotation of mainstream factories is basically stable. Due to the continuous loss of some specifications of products, some enterprises have increased the price partly (50RMB/t), POY150D/48F was 6,800-7,200RMB/T. The comprehensive starting rate of Jiangsu and Zhejiang looms is around 75%. Next spring and summer, some orders and regular customers' orders will be stable all the year round. The price of some partial thick silk fabrics will be increased compared with the previous period. However, the overall domestic market demand is still weak, and the sentiment of material inquiry is still poor.

An analyst from SunSirs believes that at present, PTA operation is at a low level due to the cost support and the increase of plant maintenance. Under this support, PTA is expected to maintain shock consolidation in the short term.

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

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