SunSirs: The Margin of Supply and Demand Improved, and PTA Prices Slightly Recovered
February 23 2023 09:41:32 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the domestic PTA market had recovered slightly. On February 22, the average PTA spot market price was 5,619 RMB/ton, up 1.56% from the previous day and up 2.28% year on year.
Analysis review
Under the low processing cost, PTA device production reduction and maintenance helped the PTA spot market rise, the improvement of market sentiment led to a significant increase in the enthusiasm of terminal inquiry, and the improvement of PTA supply and demand margin. However, from the perspective of terminal orders, it was common, so the continuity of follow-up needed to be observed.
Market outlook
Analysts from SunSirs believe that crude oil fell in a narrow range, but PTA supply was tight. With the peak season of "golden March and silver April" coming soon, the market's expectation of demand is still relatively optimistic. PTA prices will fluctuate stronger in the short term.
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