According to SunSirs price monitoring, on May 26, the current price of domestic PTA strengthened slightly, with the average spot market price at 4,703 yuan/ton, a single-day decrease of 0.39 %, the main futures price 2109 closed at 4718 yuan/ton, an increase of 20 yuan/ton, or 0.43%.
Currently due to device load adjustments, major PTA suppliers are reducing supply of contract goods. It is reported that Yisheng’s June contract has been reduced by 50%, and Hengli’s June supply has been reduced by 40%. The current industry operating rate remains around 83%. Hengli’s 2.5 million tons PTA unit in Dalian plans to start maintenance for two weeks on June 1. It is expected that supply and demand will continue to destock.
Crude oil has been experiencing strong fluctuations recently, and there is still good support on the cost side. The performance of the downstream polyester market is mediocre. The polyester yarn production and sales of mainstream factories are concentrated at around 30%-60%, and some better manufacturers can achieve a flat performance. In terms of inventory, the overall inventory of the polyester market is concentrated in 12-25 days, of which POY inventory is around 9-21 days, FDY inventory is around 12-16 days, and DTY inventory is around 15-28 days. Prices are mainly stable, with individual factories raising their quotations by 50 yuan/ton.
Xia Ting, an analyst at SunSirs, believes that there are many positive factors such as reduced supply in the spot market, expected device maintenance, and the boost of crude oil. However, the performance of downstream polyester is tepid, and the new PTA device is expected to be put into production. It is expected that the price of PTA will fluctuate and rise slightly in the future. </p
