SunSirs: PTA Device Maintenance Increased, Short-Term Price Fluctuations were Strong
April 08 2021 08:39:50 SunSirs (Linda)
PTA spot market prices fluctuated and rebounded. As of April 7, the average spot market price was 4,513 yuan/ton, up 1.28% from the previous trading day and 33.83% year-on-year. PTA main futures (2109) closed up, and the main futures closed at 4662, up 104 or 2.28% from the previous trading day.
PTA processing is at a relatively low level, and equipment maintenance has increased. The current PTA equipment start-up has fallen below 80%, and the supply side will continue to shrink in April. In terms of demand, the recent polyester market trading performance has been flat, but the start of polyester factories and terminal looms have remained high, and the start load of polyester is higher than 91%, and there is a good demand for raw materials. PTA social stocks have fallen for the fifth consecutive week, and stocks have fallen below 4 million tons for the first time since February. As of April 2, the PTA social inventory was 3,976,200 tons, a decrease of 64,100 tons from March 26, but an increase of 746,200 tons compared to the same period in 2020.
The short-term improvement in PTA supply and demand will support the market, but the recent international oil prices are facing greater pressure, and the terminal is cautious about polyester purchases, which will restrain the PTA price. It is expected that short-term prices will fluctuate strongly.
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