SunSirs: Costs Continued to Move Downward, PTA Prices Continued to Decline
July 25 2022 09:50:04 SunSirs (John)Price trend
According to the price monitoring of SunSirs, the PTA market this week (July 18-22) maintained a downward trend. As of July 22, the average domestic PTA market price was 5,810 RMB/ton, down 2.26% from the beginning of the week and up 8.36% year-on-year.
Analysis review
With the two sets of Yisheng Ningbo with a total of 4.2 million tons, and the two sets of Yisheng New Materials with a total of 6.6 million tons of PTA plants, the load has been increased to 90%. Up to now, the operating load of the PTA industry is above 73%, and the main suppliers of PTA sell spot goods, and the circulation has increased.
US gasoline inventories increased, in addition, at the macro level, the European Central Bank raised interest rates to raise concerns about falling demand. Crude oil fluctuated and weakened. As of July 21, the settlement price of the main U.S. WTI crude oil futures contract was 96.35 US dollars/barrel, and the settlement price of the main Brent crude oil futures contract was 103.86 US dollars/barrel.
Large factories planned to further reduce production, and polyester load further declined to 76%. Coupled with the high temperature in summer and the impact of scattered epidemics, and the current off-season features are obvious, the terminal construction remains low, Jiangsu and Zhejiang looms have fallen below 50%, and the market trading atmosphere is general.
Market outlook
Analysts of SunSirs believe that oil prices fluctuate and fall, PTA costs continue to decline, and the demand side is weak, and polyester construction still has room for downward adjustment. At the same time, the spot liquidity of PTA has increased, and the price of PTA is expected to enter a downward trend.
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