SunSirs: Both Supply and Demand Were Weak, and PTMEG Maintained Weaker Operation
March 13 2024 15:04:56 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic PTMEG price haD slightly decreased this week. As of March 12th, the PTMEG price was 20,933 RMB/ton, a year-on-year decrease of 0.94%.
Analysis review
In terms of equipment
Henan Nenghua had two sets of PTMEG devices with an annual load of 30,000 tons, accounting for 70-80%. The load of the 46,000 tons/year PTMEG unit of Yanchang oil production was not high. Zhejiang Jiaxing Xiaoxing PTMEG had a stable production capacity of 130,000 tons/year, with maintenance plans in place in April. As of March 12th, the overall operating rate of the domestic industry was stable around 85%.
Upstream
From the upstream raw material market of PTMEG, the market for 1,4-butanediol had remained stable this week, with a price of 9,428 RMB/ton. Recently, some devices had undergone maintenance and replacement, but due to the accumulation of inventory during the Spring Festival, the supply was still sufficient.
As of March 12th, the price of maleic anhydride was 7,110 RMB/ton, a year-on-year decrease of 0.25%. The supply was relatively sufficient, and the market had a strong wait-and-see attitude, with limited new orders signed.
Demand-side
The main downstream spandex price was 31,000 RMB/ton, a decrease of 0.4% year-on-year from the beginning of the month. The overall demand in the tourism industry was following up commonly, suppressing the trend of raw materials.
Market outlook
Cost support was average, spot trading was light, and the overall market situation was stagnant and consolidating. It is expected that PTMEG prices will continue to operate to be weaker.
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