According to the price monitoring of SunSirs, the domestic PTA market fell slightly on February 15. The average market price in East China was 5,685 yuan/ton, down 0.12% from the previous trading day and up 40.98% year-on-year. The main force of PTA futures closed at 2205 at 5696, down 24% or 0.42%.
Recent statistics on changes in domestic PTA devices
In terms of supply, Yisheng New Materials’ two sets of 6.6 million tons units are operating at a 50% reduction in load. Yisheng Ningbo’s 2 million tons/year PTA unit was shut down for maintenance on February 10, and Zhongtai Petrochemical’s 1.2 million tons PTA unit was shut down in early February. About 80% of construction is started. Yishenglian’s 2.25 million-ton PTA unit plans to undergo maintenance in early March. The specific situation is to be determined. The current operating rate of the PTA industry has dropped to around 80%.
Oil prices rose sharply for two consecutive trading days, hitting a new high in more than seven years, mainly due to the escalation of tensions between Russia and Ukraine; in addition, OPEC+’s actual increase in production fell short of the target, exacerbating concerns about tight global energy supplies. On February 14, international crude oil futures prices rose sharply. The settlement price of the main U.S. WTI crude oil futures contract was US$95.46/barrel, an increase of US$2.36, or 2.5%, and the settlement price of the main Brent crude oil futures contract was US$96.48/barrel, an increase of US$2.04, or 2.2%.
Starting from the seventh day of the first lunar month, mainstream weaving factories in Jiangsu and Zhejiang have resumed work one after another, with the loom operating rate rising to over 35.35%. However, terminal manufacturers have a strong wait-and-see attitude and lack enthusiasm for purchasing raw materials. They mostly use inventory and focus on inquiry. The market is still in a recovery period. In addition, the epidemic situation is severe in many places, especially Suzhou and surrounding areas. As a textile center, logistics will also be affected.
The slow resumption of terminal weaving production and the pressure on the demand side of PTA have led to insufficient upward momentum in prices. Although light textile cities and textile cities across the country have opened their markets one after another, logistics has not yet fully recovered and the transaction volume is relatively small. It is expected that the situation will gradually become clear after the Lantern Festival. The positive support on the cost side still exists, restraining the decline of PTA. It is expected that the short-term PTA price will still fluctuate and run on the warm side.
</p
