According to the price monitoring of SunSirs, the spot market price of PTA in China rose slightly. As of December 9, the average price was 4,865RMB/t, 0.30% higher than the previous trading day, and 27.92% lower than the previous year. The futures market was volatile and strong, TAM 2001 closed at 4,820RMB/t, up 28RMB/t or 0.58% compared with the previous trading day. The spot market is dominated by traders, with sporadic factories receiving orders. In terms of plant, the 2.2 million ton PTA plant of Hanbang Petrochemical Co., Ltd. is planned to be shut down for maintenance on December 10, and the planned maintenance is 10 days. The current starting load is around 96%.
Changes in domestic mainstream PTA plants
|
Enterprwase Name |
Device Capacity |
Device’s Recent Change |
|
Hailun Petrochemicals |
120 |
Overhaul in December |
|
Chuanneng |
100 |
In a short shutdown on November 1, 80% load now |
|
Hengli Dalian |
220 |
In a short shutdown caused by fault |
|
Hanbang Petrochemical |
220 |
Postpone the maintenance until December 10, and the overhaul is planned to last for 10 days |
In terms of cost, the news of crude oil production reduction was boosted, and the international oil price continued to rise. As of December 6, the main futures price of international crude oil WTI was $59.20/barrel, up $0.77/barrel compared with the previous trading day, and the main futures price of Brent was $64.39/barrel, up $1.00/barrel compared with the previous trading day. The PX market in Asia closed at US $788 / T FOB South Korea and US $808 / T CFR China, unchanged from the previous trading day.
The starting load of downstream polyester is reduced to below 87%, the market price of polyester filament is basically stable, the quotation of mainstream factories in Jiangsu and Zhejiang is cautious, and the transaction is mainly for negotiation and shipment. The individual specifications of polyester FDY are increased by 50-100RMB/t, of which the price of polyester FDY (150D/96F) is increased by 7,100-7,200RMB/t. The comprehensive starting rate of Jiangsu and Zhejiang looms has declined. At present, it is around 70%, and the raw materials just need to be purchased. In autumn and winter, the transaction of clothing fabric is coming to an end. The terminal factory is currently in the process of making foreign Christmas orders. The orders are basically coming to an end, and the orders will be gradually reduced from December.
An analyst from SunSirs believes that the rising crude oil drive and PTA's own device overhaul have a positive impact on the price, but the PX discharge and PTA supply and demand in the evening of August 8 of Zhejiang Petrochemical Co., Ltd. are still in the period of accumulation and polyester start-up decline, and it is expected that PTA will further rebound to drive the shortage.
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