SunSirs:Cost support weakened, PTA market maintained downward
March 18 2022 14:09:13According to the price monitoring of SunSirs, the domestic PTA market fell slightly on March 17. The average market price in East China was 5732RMB/ton, down 0.74% from the previous trading day and up 27.19% year-on-year. PTA futures 2205 closed at 5700, down 6, or 0.11%.
On March 16, the price of international crude oil futures continued to fall. The settlement price of the main contract of WTI crude oil futures in the United States was US $95.04/barrel, down US $1.4 or 1.5%; The settlement price of the main contract of Brent crude oil futures was US $98.02/barrel, down US $1.89 or 1.9%. The data released by the US Energy Information Administration (EIA) on Wednesday showed that US crude oil inventories rose for the first time in three weeks, and the market was worried that high oil prices would suppress demand.
A 650000 ton PTA plant in Jiangsu was overhauled on March 14, and another 1.5 million ton PTA plant was shut down on March 16. At present, the operating load of the industry has dropped to 74.52%, and PTA continues to destock. The downstream polyester is running at a high load of 89%, but the operating load of the terminal loom is not high, so it is difficult to effectively improve the polyester production and sales in the short term, and the polyester quotation of mainstream factories in Jiangsu and Zhejiang fell.
The analysts believe that the PTA market is expected to maintain a downward trend in the near future under the background of the shock decline of crude oil, the weakening of cost support, the impact of the dull production and sales of polyester in the downstream and the weak support of supply and demand.
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