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SunSirs: There Was Not Much Spot Circulation, Boosting the PTA Market
April 22 2022 13:41:10SunSirs(John)

Price trend

According to the price monitoring of SunSirs, the domestic PTA market rose slightly today (April 21), with the average market price of 6,310 RMB/ton, an increase of 0.75% from the previous trading day and a year-on-year increase of 35.98%.The main force of PTA futures 2209 closed at 6,228, up 50, or 0.81%.

Analysis review

There was not much PTA spot circulation, the industry start-up was below 70%, and the rebound in crude oil prices on the 21st strengthened the support for PTA costs, boosting the PTA market. However, due to unfavorable factors such as the low operating rate of looms in the terminal industry chain and large logistics uncertainties, the operating load of polyester factories was low and the demand side was not strong, which was a drag on PTA.

Market outlook

Analysts from SunSirs believe that from the perspective of the market outlook, the boosting effect of PTA unit maintenance on the market will be weakened, and it will be difficult for the demand side to recover substantially in the short term. At the same time, crude oil shocks tend to be weakly adjusted, and the cost support is limited. It is expected that the price of PTA will drop slightly.

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