According to the commodity market analysis system of SunSirs as of May 23, the average price of PTA in East China was 4,912 RMB/ton, down 1.89% from May 16.
Raw material support weakened, and international crude oil prices fell. On May 22, the settlement price of the main contract of WTI crude oil futures in the United States was US$61.20/barrel, and the settlement price of the main contract of Brent crude oil futures was US$64.44/barrel. The PX market's previous faulty devices have been restored one after another, and the demand side is expected to weaken, and the PX market has fallen from a high level and performed weakly.
Changes in domestic PTA devices in May
|
Manufacturing Enterprises |
Maintenance capacity (10,000 tons/year) |
Device changes |
|
Jiatong Energy (Tongkun) |
300 |
The parking will be stopped on April 25 and restarted on May 8. |
|
300 |
Parking on May 21. |
|
|
Honggang Petrochemical (Shenghong) |
250 |
The parking will be stopped on May 7 and restarted on May 22. |
|
Taihua Xingye |
120 |
It will be restarted on April 26 and parking will be planned in early June. |
|
150 |
The parking will be stopped on May 6th and restarted at the end of the month. |
|
|
Fujian Baihong |
250 |
The loss was reduced by 50% on May 11 and the loss was fully raised on May 13. |
|
Xinjiang Zhongtai |
120 |
There was no production on April 1 and resumed on May 20. |
In addition, many of the PTA market's previous maintenance units were restarted, and domestic supply increased slightly. Downstream polyester expectations are pessimistic, cost support is insufficient, and there is a lack of favorable support.
Downstream terminal textile companies have insufficient orders, and the risk of unstable support on the cost side has increased. They are cautious about purchasing raw materials at high prices, maintain on-demand purchases, and wait-and-see mentality dominates.
Analysts at SunSirs believe that the restart of the previous maintenance units will increase PTA's own production. International oil prices are loose, there is an expectation of a decline in the cost side, and demand remains rigid. The terminal performance is tepid. Under the influence of seasonal factors, there is a certain reduction in the demand side. It is expected that the PTA market will continue to be under pressure in the short term.
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