SunSirs: Cost Supported, Supply Reduced and Demand Increased, PTA Price Is Expected to Continue to Rise
March 03 2023 10:11:28 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the spot price of PTA was 5,745 RMB/ton on March 2, up 2.64% from the previous day and down 4.17% year on year.
Analysis review
Recently, many sets of PTA devices were mainly subject to short-term load reduction and expected maintenance. The starting load was reduced and the supply was reduced. In addition, the three major institutions had increased the global demand for crude oil to varying degrees recently, mainly due to the stronger expectation of domestic economic recovery, and the Russian crude oil production reduction plan in March had strengthened the crude oil market. Downstream demand continued to recover and domestic sales orders increased slightly.
Market outlook
Analysts from SunSirs believe that under the support of the cost advantage and the increase of PTA supply and demand, the market is significantly boosted, and the price is expected to continue to rise.
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