Price trend

The domestic market price of PA by OX method dropped. As of the 22nd, the quotation of PA by OX method was 8,987.5 RMB/toon, 7.78% lower than the price last week, and the PA market continued to decline.

The market of PA declined, and the main influencing factors are as follows:

Supply side: the unit was restarted and the supply of PA was sufficient

The supply of PA increased, some domestic overhaul devices were restarted, and Anhui Tongling PA by OX method started to be shipped normally. The 100,000 ton PA unit of Xinyang Group operated stably. Affected by the restart of the unit, the domestic PA operating rate rose to about 60%, the domestic PA capacity was seriously surplus, the supply of PA was sufficient, and the market price fell.

Cost end: raw OX remained low

The price of OX in China remained low. As of the 22nd, the price of OX was 9,000 RMB/toon, down 6.25% from the middle of October. Some units in the market were still under maintenance. According to the manufacturer, the supply of raw material OX was still tight. Affected by the decline of mixed xylene market, OX market was down, and affected by this, the price of PA was down.

Demand side: plasticizer market shocked and demand was sluggish

The price trend of the downstream DOP market of PA fluctuated On the 22nd, the domestic DOP price was 10,100 RMB/toon, and the operating rate of domestic DOP enterprises was at a low level of about 50%. PA was mainly purchased on demand, and the mainstream price of DOP was 10,000-20,200 RMB/toon. Poor downstream demand was the negative impact for the PA market, which continued to decline.

Market outlook

In the short term, the price of OX is weak, the downstream plasticizer industry is sluggish, and the supply of PA is increasing, adding negative factors. It is expected that the market price of PA will still fall in the later period.

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