According to the price monitoring of SunSirs, the domestic PTA spot market price increased slightly. As of December 9, the average price was 4,865 yuan/ton, which was higher than the previous month. It rose 0.30% on the trading day and fell 27.92% year-on-year. The futures market fluctuated and strengthened, with the main futures (2001) closing at 4,820 yuan/ton, up 28 yuan/ton or 0.58% from the previous trading day. The buying orders in the spot market are mainly traders, with sporadic factories taking orders. In terms of equipment, Hanbang Petrochemical’s 2.2 million tons PTA unit plans to shut down for maintenance on December 10, and the planned maintenance will last 10 days. The current operating load is around 96%.
Changes in domestic PTA factory equipment
In terms of costs, news of crude oil production cuts has boosted international oil prices. On December 6, the main futures price of international crude oil WTI was US$59.20/barrel, an increase of US$0.77/barrel from the previous trading day, and the main futures price of BRENT was US$64.39/barrel, an increase of US$1.00/barrel from the previous trading day. The closing prices of the PX market in Asia were US$788/ton FOB South Korea and US$808/ton CFR China, which were unchanged from the previous trading day.
The operating load of downstream polyester has been reduced to less than 87%, and the market price of polyester filament has basically remained stable. Mainstream factories in Jiangsu and Zhejiang are cautious in quoting, and deal negotiations are the main focus of shipments. Individual specifications of polyester FDY have been raised by 50-100 yuan. / ton, of which polyester FDY (150D/96F) is quoted at 7100-7200.00 yuan / ton. The comprehensive operating rate of looms in Jiangsu and Zhejiang has declined, currently around 70%, and raw materials are mainly purchased for urgent needs. The transaction of autumn and winter clothing fabrics is coming to an end. Terminal factories are currently rushing to process overseas Christmas orders. Orders are basically coming to an end. Orders will gradually decrease starting in December.
Xia Ting, an analyst at SunSirs, believes that the rise in crude oil and the maintenance of PTA’s own equipment have given a positive boost to prices. However, on the evening of the 8th, Zhejiang Petrochemical’s PX discharging and PTA supply and demand are still in the accumulation cycle and accumulation period. The start of ester production has dropped, and it is expected that PTA will rebound further and the driving force will be insufficient.
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