Price trend

On October 10, domestic commodity futures rose in a large area. The main contracts of low sulfur fuel oil and crude oil rose by more than 11%, fuel oil rose by more than 8%, and PTA rose by more than 6%. PTA spot market followed the rise According to the price monitoring of SunSirs, the average market price in East China on the 10th was 6,516 RMB/ton, 0.81% higher than the previous trading day, and 20% year on year.

Analysis review

During the National Day, the production reduction agreement was reached at the OPEC+ conference, which boosted the continuous rise of international oil prices, and PTA showed an increase driven by costs. PTA's own industry started stably at around 80%, and the overall demand order of the terminal factory improved partially, but the efficiency was still poor, and the overall supply and demand continued to be weak.

Market outlook

SunSirs’ analysts believe that in the short term, the PTA price will fluctuate to be strong with the cost.

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