Recently, the PTA market has adjusted within a narrow range, and the terminal market orders are not sustainable. The downstream polyester load remains at around 80-81%, and there is insufficient support from market demand. As international oil prices have also fluctuated recently, market concerns about Omicron mutant strains have once again eased, and the Federal Reserve remains optimistic about future economic prospects, international oil prices have risen. The industry has a strong wait-and-see sentiment towards PTA‘s later market.
Plan12Restart at the end of the month
Yishenghua
225
12month3day dropped to 5operation
12Month10Restore full load
Yisheng New Materials
360
12month5day dropped to 5,12month9day dropped to3in
12month14withdrawal to5complete
Hengli Petrochemical
220
2021Year12Month10Day
To be determined
Yishenghua
600
12Month16Short stop in the evening
1-2days
ZhuhaiBP
110
Plan maintenance nearby this weekend
Two weeks
In terms of supply and demand, in December PTA was affected by unexpected equipment maintenance, and the supply showed a significant reduction. After Fujian Baihong, Yadong Petrochemical, and Hengli Petrochemical Lines 2 were stopped one after another, the load of Yisheng New Materials Device dropped due to the epidemic. Two sets of Dalian 600 million tons The unit was temporarily shut down, and the Zhuhai BP110 10,000-ton unit is facing maintenance. As a result, the overall supply side has shrunk.
The operation of the polyester end is stable with slight fluctuations. Although some devices have resumed and restarted, some devices have stopped and reduced their load due to the impact of the epidemic. The polyester end load is expected to fluctuate around 81%. At the same time, the inquiry atmosphere in most textile markets at the end of the year is in a clear downward trend. As the end of the year approaches, considering that workers have not yet arrived for their holidays, most production companies maintain low production operations.
Taken together, PTA‘s supply side is showing a decrease in the short term. Under the mismatch between supply and demand, PTA is destocking slightly, but the demand side is not sustainable and is expected to weaken. In addition, warehouses are Single cancellation and processing fee repairs have restricted the upward price movement, and the short-term market may adjust within a narrow range due to fluctuations in crude oil.
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