SunSirs: Demand is not Strong, PTA Prices Continue to Fall
September 03 2021 08:20:03 SunSirs (Linda)
On September 2nd, the domestic PTA current price continued to weaken slightly. The average spot market price was 4821 yuan/ton, a single-day drop of 1.83% and a year-on-year increase of 33.52%. The main futures 2201 closed 4832, down 80, or 1.63%.
In terms of installations, Sino-Thai Petrochemical's 1.2 million-ton PTA installation was originally planned to restart in early September, but the current plan may be postponed for a week to restart. The industry operating rate remains above 80%. Currently, PTA has accumulated inventory and sufficient supply. The downstream polyester production and sales are flat, with the start of production maintained at around 82%, and there is no sign of starting in the terminal peak season. The market is cautious and the demand for PTA is not strong. Small orders are mainly traded. Superimposed crude oil fluctuated and fell, and PTA cost support also weakened.
At present, the supply of PTA market is slightly oversupply, which suppresses the price. It is expected that the short-term market will continue to fall.
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