Price trend
According to the price monitoring of SunSirs, the domestic PTA spot market price has risen sharply. As of September 5, the average market price was 6,715 RMB/ton, an increase of 6.26% from the previous trading day and a year-on-year increase of 37.68%.
In the futures market, the main force of PTA futures 2301 closed at 5,754 RMB/ton and settled at 5,596 RMB/ton, up 300 RMB/ton, or 5.50%
Analysis review
The load of PTA equipment has been reduced, the maintenance has increased, and the industry's start-up has been reduced to around 67%. At the same time, due to the influence of typhoon "Xuan Lannuo", PTA shipping and delivery have been suspended, and the delivery speed of tankers has slowed down. Currently, the supply of goods in the spot market is tight.
On the raw material side, the overhaul of PX devices at home and abroad is expected. From September to October, Asian PX is still expected to be destocked. In addition, the typhoon affects the shipping of domestic PX, which pushes up the price of PX and strengthens the support for the cost of PTA. At present, the supply and demand of the downstream polyester market is expected to be good, and there may be a staged rebound in September, but the overall space is relatively limited. It is still necessary to pay attention to the release of terminal orders.
Market outlook
Analysts of SunSirs predict that in the short term, the cost-side support of PTA will be strong, and at the same time, there is an expectation of improvement in supply and demand, and the price of PTA may run strongly.
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