According to monitoring, on April 20, domestic PTA spot Market prices maintained a slight decline, with the average spot market price at 3,314 yuan/ton, down 0.90% from the previous trading day and down 49.42% year-on-year. At the close of the futures market, the main futures closed at 3412, a decrease of 64% from the previous trading day, a decrease of 1.84%.
Currently, due to the intensive volume of transactions at the end of March, the spot supply of circulating goods is abundant, and PTA continues to maintain a high level of more than 92%, so the supply is relatively sufficient. In terms of equipment, Tianjin Petrochemical’s 340,000-ton PTA unit was inspected on April 17 and is scheduled to be inspected for one month. Hanbang Petrochemical’s 600,000-ton PTA unit heated up and restarted over the weekend. The 500,000-ton PTA unit of Taiwan Yadong Petrochemical Line 2 will be shut down for maintenance today (April 20), and the maintenance is scheduled to last until July.
In the crude oil market, last week, as the OPEC+ production reduction was lower than expected, but it was not enough to offset the sharp drop in demand caused by public safety and health prevention and control, the crude oil rally was blocked and fell back. The sudden increase in U.S. crude oil inventories and the news that global daily oil demand will drop by 9.3 million barrels are negative for the oil market, and cost support is insufficient. However, due to the surge in demand in the global mask market, domestic downstream production and sales of polyester staple fiber, polyester chips, etc. have recovered, and PTA has received certain support due to increased demand. At the same time, after the increase in production and sales at the beginning of the month, the inventory pressure of polyester factories has been relieved, and the current polyester profits remain at a relatively good level. Equipment maintenance plans have been reduced, and the polyester operating load has remained around 83%. However, the overall transaction atmosphere in the downstream polyester filament market continues to be light. The quotations of mainstream polyester factories in Jiangsu and Zhejiang are still stable and mixed. The current price of polyester POY150D/48F is 5050-5350 yuan/ton.
Cost-side support has weakened due to the sharp fall in crude oil. The quotations of mainstream polyester factories in the downstream Jiangsu and Zhejiang regions are temporarily stable. The overall production and sales performance is weak. The purchasing sentiment for weaving and texturing is still not high. The terminal link There is a possibility of further decline in construction starts. Demand has cooled, PTA supply continues to increase, and supply and demand pressures still exist. It is expected that the PTA market will continue to fluctuate and weaken. </p
