Domestic PTA Spot Market Prices Fell Sharply

Crude oil slump this week is the main reason for the drop in PTA spot market prices.

Next week, the installation of Yanda 2 line 3 million 750 thousand tons of delayed maintenance plan, there is the possibility of implementation of maintenance in November, is expected next week

The construction starts at 70% level. In the absence of a clear overhaul plan, the next step is to step into PTA.

Lack of downstream

Buying support, the paction is still based on hedging point price paction.

On the device side, the 1 million 200 thousand tons / year PTA device in the three Lane Lane is restarted. At present, the domestic PTA utilization rate is 69.45%, 67.01% higher than the beginning of the week, and 2.44% higher. The supply side increased to a certain weak market expectation.

The upstream crude oil was hit hard this week, accompanied by an increase in uncertainties in frozen production and US crude oil.

As of November 3rd, the main futures closing price of WTI was 44.66 US dollars / barrel, down 4.69% from 46.86 US dollars in early week.

Affected by this, PX factory price trend declined slightly, the weekend average price was 6495 yuan / ton, compared with the early week price 6510 yuan / ton fell 0.23%, up 3.30% compared to the same period last year.

In addition, the downstream polyester operating rate was relatively stable at 82.08%, but the price of mainstream polyester factories in Jiangsu and Zhejiang provinces also showed a slight reduction, of which the price of polyester DTY (150D/48F low elastic) was 8900-9200 yuan / ton, down 100 yuan / ton compared with the beginning of the week.

Crude oil will still be dominated by bad profits, and cost support will be limited.

Downstream polyester plant started relatively stable, is expected to maintain near 81%, still maintain a high operating rate and product inventory is low, the demand side is relatively stable.

PTA is expected to maintain a weak pattern next week.