According to SunSirs price monitoring, the domestic PTA market continued to rebound slightly on November 9, with the average spot market price at 5,031 yuan/ton. , up 0.16% from the previous day and 61.31% year-on-year. The main force of PTA futures 2201 closed at 5078, up 28 points, or 0.55%.
In terms of equipment, Hengli Dalian’s 2.2 million-ton unit began maintenance for about 20 days on November 5, Honggang Petrochemical’s 1.5-million-ton unit plans to restart in mid-November, and Baihong’s 2.5 million unit is scheduled to be restarted in mid-November. The 1.1 million ton unit of Ineos plans to undergo maintenance for 3 weeks starting on December 1. The INEOS 1.1 million ton device plans to undergo maintenance for 2 weeks at the end of December. The current industry operating rate remains above 79%.
The continued recovery of the global economy supports energy demand, and supply performance is insufficient. International crude oil prices are still running at a high level. On November 8, the settlement price of the main U.S. WTI crude oil futures contract was US$81.93. / barrel, the settlement price of the main Brent crude oil futures contract was US$83.43 per barrel.
The performance of the polyester market in the downstream Jiangsu and Zhejiang regions is flat, with a clear market wait-and-see sentiment, and some factories have made purchasing actions. There are not many new orders, and production of early orders is mostly maintained, and the industry operating rate has been reduced to below 80%. From the perspective of texturing, weaving and other links, policy-based power restrictions in Jiangsu and Zhejiang have been relaxed month-on-month, and the operating rate will moderately rebound by more than 65%, but it is still difficult to return to the previous high.
Although downstream factories are currently in a wait-and-see atmosphere, their purchasing enthusiasm is not high, resulting in sufficient PTA spot supplies. However, boosted by favorable costs, expected maintenance of PTA equipment, and weather conditions affecting northern port logistics, PTA prices will maintain a narrow rise in the short term. </p
