Price trend

According to the monitoring of SunSirs, the average price of the domestic PTA spot market on November 17 was 5,713 RMB/ton, down 1.75% from the previous day.

Analysis review

As of the 17th, the operating rate of PTA industry stabilized at about 74%, of which a 2.4 million ton PTA plant in East China was scheduled to be overhauled for about 10 days in late November. The fall in crude oil price weakened the cost support for PTA. The high inventory of polyester plants in the downstream would not be changed. Large plants would carry out a new round of joint production reduction. It is said that the operating rate of the industry would dropped below 50%. In terms of terminals, the operating rate of looms in Jiangsu and Zhejiang had dropped to around 57%. It is expected that after December, the number of textile enterprises taking annual leave will further increase.

Market outlook

According to the analysts of SunSirs, the current downstream off-season characteristics are obvious, which has a significant drag on the demand for PTA. The accumulation of PTA may increase significantly. Superimposed on the production expectation in the fourth quarter, it is expected that the PTA market will continue to be weak.

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