In 2019, the domestic PTA industry ushered in the peak period of production. In the middle of the year, Sichuan Shengda’s 1 million tons unit was put into operation in May. By the end of the year, Zhongtai Petrochemical’s 1.2 million Ton devices, as well as Xinfengming’s 2.2 million ton device and Hengli Petrochemical’s 2.5 million ton device are put into operation. By then, the domestic PTA production capacity will reach 56.505 million tons. The overall supply glut is expected to increase.
Recently, the stand-alone test run of the 1.2 million tons annual PTA project of Korla Zhongtai Petrochemical Co., Ltd. in Xinjiang has come to an end, marking that the linkage test run of the PTA device is about to begin, providing input for the PTA device. Test drive to help refuel. As soon as this news comes out, domestic PTA supply is about to increase pressure.
Data source: Jin Lianchuang
As of now, the total domestic PTA production capacity is approximately 50.605 million tons/year. In 2019, the domestic PTA industry ushered in the peak production period. In the middle of the year, Sichuan Shengda’s 1 million ton device was put into operation in May. At the end of the year, in addition to the 1.2 million ton device of Zhongtai Petrochemical, there were also the 2.2 million ton device of Xinfengming and the 2.5 million ton device of Hengli Petrochemical. tons device is put into operation, when the domestic PTA production capacity will reach 56.505 million tons. The overall supply glut is expected to increase. Oversupply expectations are increasing, and PTA is expected to continue to accumulate inventory in the far month.
Data source: Jin Lianchuang
As of now, PTA social inventory remains at 136.5 10,000 tons, the inventory accumulation rhythm began to show in the third quarter. In October, due to equipment maintenance and short shutdown of many PTA factories, while the polyester production started to maintain a high level, the inventory accumulation rhythm turned to destocking. However, with the restoration of maintenance equipment and the commissioning of new equipment, Yuanyue PTA still continues to accumulate inventory expectations, and the supply faces greater pressure on PTA. As far as the current market is concerned, the PTA market equipment overhaul has supported the current spot price, and the market price has insufficient downward momentum. Therefore, before the new production equipment is released, the PTA market may see signs of stabilization and rebound at the end of the Silver Ten, but the overall strength is still limited. , the mid- to long-term trend is still mainly weak.
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