SunSirs: Under the Drag of Terminal Demand, PTA Prices Weakened
April 13 2023 13:19:03 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, there was slight decline in the domestic PTA spot market recently. As of April 12, the average price of the domestic PTA market was 6,230 RMB/ton, a decrease of 2.03% compared to the previous day.
Analysis review
Under the unexpected reduction in OPEC+ production, the center of gravity of crude oil prices had shifted upwards. At the same time, there were still many PX device inspections in April, and the supply side continued to be limited, while the cost side remained supportive. The downstream polyester production rate maintained a high pattern, but the strengthening of raw material prices had led to significant profit losses for polyester products. At the same time, there was still no significant improvement in terminal orders, and the willingness to stock raw materials was insufficient. The demand side showed a weakening pattern, which had a drag on PTA prices.
Market outlook
SunSirs analysts believe that in the short term, in the game of strong costs and weak demand, PTA prices are expected to continue to fluctuate and decline.
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