According to the price monitoring of business club, the current price of domestic PTA rose slightly today (September 23). The average price in the spot market was 4966 yuan / ton, with a single day increase of 1.08% and a year-on-year increase of 45.89%. The main futures 2201 closed at 5000 and settled at 4950, an increase of 134 or 2.75%.

In terms of supply, with the overhaul of Hengli petrochemical 2#2.2 million tons, Yangzi Petrochemical 2#65 million tons and Baihong 1.25 million tons PTA plant, the load of 3.3 million tons PTA plant of Yisheng new material decreased. At the same time, the supply of Hengli petrochemical, the supplier, decreased by 30% in October, which supported the PTA price. In addition, the raw material end also has a certain boost. On September 22, the international oil price rose. The settlement price of the main contract of WTI crude oil futures in the United States was US $72.23/barrel, an increase of US $1.74 or 2.5%, and the settlement price of Brent crude oil futures was US $76.19/barrel, an increase of US $1.83 or 2.5%. The US Energy Information Administration (EIA) released positive crude oil inventory data on Wednesday, which showed that US crude oil inventory fell to the lowest level in three years.

However, the production of downstream polyester and weaving factories is reduced, mainly promoted by mainstream factories in Jiangsu and Zhejiang, and the quotation discount ranges from 100-300 yuan / month. The textile terminal industry was affected by the power restriction of weaving enterprises in Jiangsu and Zhejiang, the “double reduction and double control” of printing and dyeing plants and the lack of quality of “golden nine silver ten”, and the operating load of looms decreased rapidly to 59.24%. In terms of export, the continuous rise of sea freight, the lengthening of transportation turnover time and the increase of logistics costs continue to put pressure on textile and garment export orders.

Xia Ting, an analyst at the business agency, believes that the current crude oil cost support is acceptable, there are more maintenance of PTA units, and there is no pressure on the supply side; However, in terms of demand, it is mainly cautious to observe the market, and the overall transaction is weak. Therefore, it is expected that the short-term PTA price will maintain a narrow rise.

According to the data monitoring of business agency, the average ex factory price of LLDPE (7042) in East China was 8450.00 yuan / ton on September 12 and 8766.67 yuan / ton on September 22, with an increase of 3.75% and 6.26% compared with September 1.

According to the data monitoring of business agency, the average ex factory price of LDPE (2426h) in East China was 11950.00 yuan / ton on September 12 and 12300.00 yuan / ton on September 22, with an increase of 2.93% and 7.61% compared with September 1.

According to the data monitoring of business agency, the average ex factory price of HDPE (5000S) in East China was 8866.67 yuan / ton on September 12 and 9166.67 yuan / ton on September 22, with an increase of 3.38% and 4.76% compared with September 1.

In the past ten days, LDPE in East China rose periodically, HDPE rose first and then stabilized, LLDPE first opened and then fell, and the prices of the three PE spot varieties continued to rise as a whole. In the third week of September, most Petrochemical ex factory prices rose by 50-500 yuan / ton, with strong cost support. In addition, under the influence of “double control”, some coal chemical enterprises have load reduction expectations, which boosted the bullish sentiment of the market. The futures rose sharply on September 15 and 16, the market trading atmosphere was acceptable, the inventory decreased, the merchant mentality was good, and the spot market price mainly rose. Before the Mid Autumn Festival, only the factory quotation of LLDPE fell slightly, LDPE continued to rise after the festival, and the HDPE and LLDPE markets in East China remained stable for the time being.

The recent rise of Liansu futures has brought phased benefits to the spot market. On September 22, the opening price of polyethylene futures 2201 was 8750, the highest price was 8950, the lowest price was 8670, the closing price was 8870, the former settlement price was 8845, the settlement price was 8800, up 25, or 0.28%, the trading volume was 448521, the position was 326936, and the daily position was increased by – 8366. (quotation unit: yuan / ton)

At present, the futures market has increased, the overall rise and fall of petrochemical enterprises are mixed, the trading atmosphere in the market after the festival is general, the downstream mentality is cautious, and multi-dimensional holds replenishment on demand. Merchants’ quotations follow the market, and the firm offer focuses on a single discussion. Although the demand of downstream enterprises is in the peak season, but the orders are less than expected, in the future, the positive factors in the polyethylene market still exist. With the arrival of the National Day holiday and the double 11 e-commerce Festival, the downstream start-up growth is obvious, and the “double control” affects the fermentation. The parking and maintenance enterprises have growth expectations. It is expected that the PE spot market will fluctuate in a short or narrow range in the short term, and the above actors are still the main players in the long term.

1、 Price trend

According to the bulk list data of business society, the price of pure benzene rose broadly in the first half of this week and began to fall on Thursday. On September 12, the price of pure benzene was 7950-8400 yuan / ton (average price: 8080 yuan / ton), and on Sunday (September 19), the price of pure benzene was 8100-8600 yuan / ton (average price: 8360 yuan / ton). The average price increased by 280 yuan / ton, or 3.67%, compared with last week; Compared with the same period last year, it increased by 146.61%.

2、 Analysis and review

Affected by the epidemic and typhoon, the arrival of cargo was delayed, the port inventory decreased significantly, the spot supply in East China was tight, stimulated the active purchase in the downstream, and the market speculation was strong. In the second half of the week, affected by the “double control” policy, the downstream operating rate decreased significantly; In addition, the reserve of pure benzene in the downstream is relatively sufficient due to short supply in the early stage, and the resistance to high priced pure benzene in the downstream is strengthened and the follow-up is weakened. Market buying enthusiasm fell, pure benzene market fell, traders took profits and prices fell. This week, Sinopec’s pure benzene price was raised three times and lowered once, and the adjusted price was 8300-8450 yuan / ton.

In terms of external price, the external price of pure benzene in Asia fluctuated and fell this week. On Friday (September 17), the reference price of pure benzene in the Korean market was US $976 / T, down US $19 / T, or 1.91%, compared with September 10; The reference import price in East China was US $1035 / T, down US $10 / T or 0.96% month on month on September 10.

In terms of crude oil, hurricane IDA has a great impact on U.S. oil and gas production, and the recovery of oil and gas production is slow. In addition, U.S. crude oil inventory and refined oil inventory have decreased, and the international oil price has shown an overall upward trend this week. On September 10, Brent rose $2.42 / barrel, or 3.32%; WTI rose $2.25/barrel, or 3.23%.

Downstream: styrene: styrene fell after a wide rise this week. On September 17, the price of sample enterprises was 9387.5 yuan / ton, an increase of 2.88% over last week and 72.78% over the same period last year. Driven by the forced short market of pure benzene on the cost side, the price of styrene continued to rise and the spot remained strong. Over the weekend, with the exchange and rescue of some domestic pure benzene, the pure benzene Market weakened, driving the correction of styrene price.

Aniline: Unplanned parking of Jiangsu Yangnong and Jiangsu Fuqiang under the “double control” policy; A 100000 t / a unit of Nanhua was shut down to replace the catalyst. At present, aniline in Jiangsu has lost 130000 T / a production capacity. The spot supply in East China was tight, and the inventory of aniline enterprises in Shandong and Shanxi decreased rapidly, driving the overall supply in the field to be tight. During the week, the price of aniline rose continuously and the price rose broadly.

3、 Future forecast

In terms of crude oil, with the recovery of oil and gas production in the Gulf of Mexico, the oil price may fall. Continue to pay attention to the impact of the epidemic situation, OPEC + decisions on crude oil production, US crude oil and refined oil storage dynamics, global economic conditions and so on on on crude oil prices.

Downstream: the downstream has strong resistance to high priced pure benzene. Downstream main product styrene: raw material pure benzene is lack of follow-up driving force, and the fundamentals of styrene may weaken. In addition, the “double control” of regional governments is strengthened, and the downstream demand may further weaken. It is expected that styrene will maintain shock after a slight correction in the short term.

Crude oil storage may fall; Affected by the “double control” policy in the downstream, the downstream operating rate in East China decreased significantly, and the subsequent demand for pure benzene was weak. At the end of this month, Dalian Fujia and Dalian Hengli planned maintenance, and the supply is expected to decrease, or offset the bad brought by the decline in demand. Overall, it is expected that pure benzene will be consolidated at a high level after a slight decline. Continue to pay attention to the downstream market, the dynamics of domestic pure benzene units, and the impact of crude oil, external market and other trends on the price of pure benzene.

According to the bulk list data of business society, the price trend of TDI market temporarily operated stably. On September 16, the average market price in East China was 14400 yuan / ton, down 4.79% month on month.

On September 16, the distribution market in East China was temporarily stable, and the distribution market price remained stable. The price of domestic goods was about 13800-14000 yuan / ton, and the price of Shanghai goods was about 14300-14500 yuan / ton. The actual transaction price was subject to negotiation. The domestic TDI market is waiting to be sorted out, the trading atmosphere on the site is light, and the downstream demand has not increased. The equipment of many domestic TDI factories is overhauled, and the supplier has no inventory pressure for the time being. However, the downstream transaction of the terminal is not smooth, the downstream follows up rationally, and just needs to buy. The operator’s mentality is mainly waiting to see, the future market situation is sorted out and operated, and the downstream follow-up is concerned.

Zinc prices rose first and then fell this week

According to the data monitoring of the business agency, the zinc price rose first and then fell this week. The zinc price fell for two consecutive days on September 14 and 15. The rise of the zinc market fell, and the zinc market returned to stability. As of September 15, the price of zinc was 22810.00 yuan / ton, down 0.36% from 22893.33 yuan / ton on September 7; Compared with the zinc price of 22613.33 yuan / ton on September 1, it increased by 0.87%. Overall, zinc prices rose first and then fell in September, and the overall zinc market fluctuated and maintained stability.

Zinc spot basis in September

According to the monitoring data of business society, as of September 14, 2021, the maximum 180 day main basis of zinc (Changjiang nonferrous metals) was 850.00, the minimum was 360.00, and the average was 630.24. The maximum value of 90 day main basis is 850.00, the minimum value is 560.00, and the average value is 716.02. In September, the main basis of zinc fluctuated and adjusted between 645-780. Overall, the trend of futures and spot market in zinc market is similar, and the differences in futures and spot market are small.

Key inspector of environmental protection nonferrous industry

The Ministry of ecology and environment held a regular press conference in August on August 26. Spokesman Liu Youbin introduced that the second round of the fourth batch of central eco-environmental protection inspectors was fully launched. Since the 26th, seven Central Ecological and environmental protection supervision teams have carried out supervision and stationed for about one month in five provinces of Jilin, Shandong, Hubei, Guangdong and Sichuan, and two central enterprises of China Nonferrous Metals Mining Group Co., Ltd. and China Gold Group Co., Ltd. In addition to the key provinces, two central enterprises in the nonferrous industry were mainly stationed in this supervision. Environmental protection inspectors focused on central enterprises and enterprises in the non-ferrous industry, which stimulated the rise of the non-ferrous sector.

Overview and Outlook

Bai Jiaxin, an analyst of business society, believes that affected by the central environmental protection supervision team stationed in two central enterprises in the non-ferrous industry, the non-ferrous sector generally rose in September, stimulating the price rise of zinc City, but the balance between supply and demand of zinc city has not been broken, the trend of zinc City has not changed, and the main basis of zinc is relatively stable. With the national reserve of zinc successively put into the market, the support for the rise of zinc market caused by environmental protection weakened, the zinc price fell, and the zinc market returned to stability. Zinc prices are expected to remain stable in the future.

1、 Price trend

According to commodity data monitoring, the price of Yunnan Guizhou yellow phosphorus rose. The average price of yellow phosphorus was 30000 yuan / ton last Tuesday and 44000 yuan / ton this Tuesday. The price rose by 46.67% on the 7th.

2、 Market analysis

Recently, according to an online document, Yunnan development and Reform Commission issued the notice of Yunnan energy conservation leading group office on resolutely doing a good job in the work related to dual control of energy consumption, which mentioned that the production control of yellow phosphorus industry should be strengthened to ensure that the average monthly output of yellow phosphorus production line from September to December 2021 should not exceed 10% of the output in August 2021 (i.e. 90% reduction). Affected by this news, the downstream began to purchase yellow phosphorus at a high price. At present, the shortage of yellow phosphorus spot has intensified, and the price of yellow phosphorus has risen sharply again.

Up to now, most of Yunnan yellow phosphorus have suspended external quotation; The quotation in Sichuan is about 45000 yuan / ton; The mainstream quotation in Guizhou is about 43000 yuan / ton. Yunnan Enterprises Limited power and reduced consumption, Guizhou limited power and reduced production, yellow phosphorus manufacturers mainly issued early orders, the spot supply was tight, and some manufacturers temporarily stopped making external quotations.

In terms of raw materials, the market price of phosphorus ore is mainly high. The average price of phosphorus ore was 626.67 yuan / ton last Tuesday and 643.33 yuan / ton this Tuesday. The price rose by 2.66% on the 7th. The overall supply of phosphorus ore market is tight and the operating rate is low. The site continues to supply orders from old customers.

In terms of coke, in view of the current situation of coal coke steel market, since 0:00 on September 15, many coking enterprises in Shandong have started the eleventh round of raising 200 yuan / ton. After the rise, the ex factory price including tax shall be subject to a dry shutdown of 4540-4590 yuan / ton. Up to now, the quotation of secondary metallurgical coke in Panzhihua coke market is 4070 yuan / ton.

In terms of phosphoric acid, the market generally increased. The average price of phosphoric acid was 7816.67 yuan / ton last Tuesday and 9400 yuan / ton this Tuesday. The price rose by 20.26% during the week, and the downstream procurement is still cautious. At present, the price of raw materials is rising and supported by costs. It is expected that the phosphoric acid market may continue to rise in the short term.

3、 Future forecast

According to the yellow phosphorus analyst of the chemical branch of business society, the market price of yellow phosphorus rose this week, the voltage load of yellow phosphorus enterprises was limited, the production capacity was reduced, and the spot tension was intensified. The price of upstream phosphorus ore and coke increased, and the price of downstream phosphoric acid increased all the way. The downstream began to purchase yellow phosphorus at a high price. The acceptance of high price yellow phosphorus was high. On the whole, the market confidence was good and the upstream and downstream support was strong. It is expected that the market price of yellow phosphorus will continue to rise in the short term.

According to the commodity index system of business society, the commodity index of natural rubber (standard 1) on September 12 was 31.35, up 0.29 points from yesterday, down 68.65% from the highest point of 100.00 points in the cycle (2011-09-01), and up 11.37% from the lowest point of 28.15 points on November 25, 2015. (Note: the period refers to the period from September 1, 2011 to now)

Figure 2: mainstream price trend of natural rubber in recent January 2021

Figure 3: Weekly K-line chart of mainstream price of natural rubber in the second week of September 2021

Data monitoring shows that during the week from September 6 to 12, 2021, the price of domestic natural rubber continued to fluctuate and decreased slightly. It was reported as 12685 yuan / ton on Monday and 12396.5 yuan / ton on Friday, a decrease of about 2.27%. There was a slight shock at the beginning of the week. In the middle of the week, tire enterprises stopped work to reduce production and weak demand led to a sharp drop in the market. There was a slight rebound at the weekend, but the range was very small. The highest price of the week was 12685 yuan / ton on the 6th.

From the perspective of new rubber output: at present, the new rubber in the main natural rubber production area is in the peak production season, affected by the epidemic situation, rainfall, high shipping freight, and the delayed export of Vietnamese natural rubber, the rubber import volume is not high. Thailand’s forecast shows that 37 provinces will be affected by tropical typhoon tonsen starting on the 12th, of which the Northeast will be the most affected. We should pay attention to the impact of flash floods and floods; In addition, there is heavy rainfall in many places in September, so it is necessary to pay attention to the occurrence of floods.

From the downstream demand: first, from the situation of China’s tire manufacturers, some tire manufacturers stopped production in a centralized manner, and the tire operating rate fell more than expected. The data statistics show that in the week of September 6, the operating rate of semi steel tire sample manufacturers was 47.70%, down 10.35% month on month and 22.60% year-on-year; The operating rate of all steel tire sample manufacturers was 48.91%, down 8.07% month on month and 25.95% year-on-year. On August 26, the central ecological and environmental protection supervision team was stationed in Jilin, Shandong, Hubei, Guangdong and Sichuan provinces, which is expected to end on September 26. It is reported that some enterprises say that agents have some replenishment needs, but the actual inventory pressure is transferred to terminal sales. The double festival is coming, the finished product inventory is high, and the sales pressure is increasing. Secondly, from the automobile data, on September 10, the latest production and sales data of China Automobile Association showed that in August 2021, China’s automobile production and sales continued to decline, and the year-on-year decline was larger than that of the previous month. Among them, the production and sales of passenger cars in August were 1.497 million and 1.552 million, the output decreased by 3.3% month on month, the sales volume was flat, and the production and sales decreased by 11.9% and 11.7% respectively year on year; In August, the production and sales of commercial vehicles were 229000 and 247000, with a month on month decrease of 27.5% and 20.9%, and a year-on-year decrease of 46.2% and 42.8%. In August, the decline in production and sales continued to expand, mainly affected by the domestic epidemic and the epidemic in Malaysia. The increase in supply chain risk further increased the pressure on production reduction. In addition, the fluctuation in production and sales was also related to the high base in the same period last year. Although the shortage of chips has significantly affected the enterprise’s production plan, the cumulative production and sales of automobiles still show a slight increase compared with the data of the same period in 2019. China Automobile Association pointed out that at present, the demand in the terminal market remains stable, mainly due to the insufficient supply of automobile products.

In terms of inventory, the stock of natural rubber in the previous period was 232180 tons (+ 6826 tons) as of September 12, the quantity of futures warehouse receipts was 198470 tons (+ 5990 tons), and the domestic delivery inventory increased; In the previous period, the energy inventory of No. 20 rubber futures warehouse receipt was 42150 tons, an increase of 2526 tons. China’s natural rubber inventory in Qingdao Free Trade Zone continues to decline, and the spot of dark rubber is relatively strong.

In terms of import and export: Rubber: China: according to the data released by the General Administration of Customs on September 7, China imported 529000 tons of natural and synthetic rubber (including latex) in August 2021, down 24.3% from 699000 tons in the same period in 2020. From January to August 2021, China imported 4.348 million tons of natural and synthetic rubber (including latex), down 3.5% from 4.508 million tons in the same period in 2020. Vietnam: from January to August, Vietnam exported 1.129 million tons of natural rubber and mixed rubber, a year-on-year increase of 23% over last year’s 920000 tons; A total of 741000 tons were exported to China, an increase of 7.5% over last year’s 689000 tons. Indonesia: the total export of natural rubber and mixed rubber in 1-8 months was 1.585 million tons, a slight increase of 0.8% year-on-year; A total of 131000 tons were exported to China, a year-on-year decrease of 62%. Tire: affected by the global epidemic and the continuous rise of freight, the shipping problem will continue to affect China’s tire export.

Industry hot spots: Yang Yiping, deputy director of international cooperation and Business Development Department of Shanghai International Energy Trading Center (INE), said on Wednesday (September 8) that he hoped to launch freight index futures contracts this year, Reuters reported. In view of the tension faced by the global supply chain, the Shanghai Futures Exchange said in May that its company ine is studying and developing open products, such as freight index futures. Yang Yiping said: “after the first delivery of low sulfur fuel oil to Singapore in January 2021, we hope to develop more products traded on ine.” at present, foreign companies and investors have limited opportunities to enter China’s broad commodity market. At present, China’s open contracts include crude oil, iron ore, No. 20 rubber, low sulfur fuel oil and bonded copper. However, China has been trying to have global commodity pricing power and gradually open more commodity derivative contracts to overseas participants for trading.

According to the analysis of business society, from a macro perspective, the original oil price stabilizes, a variety of chemicals start a new round of upward, and natural rubber, as a futures commodity, will also be affected in the future. From the perspective of industrial chain, the supply side is affected by the weather brought by typhoon; On the demand side, downstream tire enterprises are undergoing ring inspection, the operating rate is falling, the inventory pressure is transmitted downward, and the traditional peak season effect of “golden nine silver ten” needs to be considered in terms of consumer demand. From the current influencing factors, the impact of supply side weather and environmental protection inspection on the operating rate of tire enterprises is the most prominent, and it is expected that the short-term price will continue to fluctuate.

1、 Price trend

According to the bulk list data of business society, aniline fell continuously this week. On September 3, the price of aniline in Shandong was 10700-10900 yuan / ton and that in Nanjing was 11100-11200 yuan / ton; On September 10, the price of aniline in Shandong was 10100-10300 yuan / ton, and that in Nanjing was 10400-10600 yuan / ton, down 5.52% from last week, up 29.96% at the beginning of the year and 131.58% from the same period last year.

2、 Analysis and review

In terms of cost, in the early stage, the arrival of some ships was delayed, the port inventory was low, and the shipment of local refining enterprises was ok, so the price of pure benzene fluctuated and rose. It was reported in the middle of the week that a large styrene plant downstream was planned to be overhauled in October. The supply of styrene was expected to tighten, and the price rose sharply, driving the rise of pure benzene. This week, Sinopec raised the price of pure benzene to 8000 yuan / ton. On Sunday (September 12), the price of pure benzene was 7950-8400 yuan / ton (the average price was 8080 yuan / ton), an increase of 380 yuan / ton or 4.94% over last week; Compared with the same period last year, it increased by 136.95%.

The price of nitric acid fell this week. On Friday (September 10), the production price of nitric acid in East China was 3000 yuan / ton, down 0.99% from last week and up 100% from the same period last year.

Affected by environmental protection policies, the operating rate of the downstream in the North decreased and the demand for aniline decreased; Most aniline units overhauled in the early stage were restarted, the operating rate increased, and the on-site supply increased. Under the pressure of bad supply and demand, aniline fell continuously during the week, but the rising atmosphere in the raw material market was warm and gave some bottom support. At present, aniline is still above the 10000 mark.

3、 Future expectations

In terms of cost, the speculation in the pure benzene market driven by styrene is relatively short, the crude oil guidance is weak, and there is no major change in the fundamentals in the short term. Overall, it is expected that the trend of pure benzene will stabilize next week, and there may be a slight decline.

The short-term rising power of the cost side remains, and the support for the bottom of aniline is good. It is expected that the trend of aniline will stabilize next week. Entering the “golden nine silver ten”, the downstream operating rate may pick up and the demand is expected to be better. Continue to pay attention to the trend of raw material, downstream demand and the dynamics of aniline plant.

In the second week of September, the overall domestic propane market still increased, and Shandong continued the rising route, with the overall focus moving upward. According to the data monitoring of business agency, the average price of propane in Shandong market was 5015.75 yuan / ton on September 5 and 5108.25 yuan / ton on September 9, with an increase of 1.84% during the week, an increase of 2.51% compared with September 1.

As of September 9, the mainstream prices of propane in different regions in China are as follows:

region Specifications September 9th

East China Propane,% (V / V) not less than 95 4950-5050 yuan / ton

North China Propane,% (V / V) not less than 95 5050-5150 yuan / ton

Shandong region Propane,% (V / V) not less than 95 5050-5220 yuan / ton

South China Propane,% (V / V) not less than 95 5080-5200 yuan / ton

In the second week of September, the domestic propane market continued to rise as a whole, and the propane Market in Shandong continued to rise within the week, but the range was general. In September, CP prices were introduced, and both propylene and butane increased, which brought some support to the market. The international crude oil market fell first and then rose during the week, bringing periodic benefits to the market. Individual manufacturers in Shandong temporarily parked, and the market supply decreased. In terms of demand, the weather has cooled down, and the terminal demand has increased to a certain extent. At present, most manufacturers’ inventory is at a low level and their mentality is relatively strong. Downstream buy up do not buy down mentality into the market actively, prices continue to rise. At present, the north and South markets are dominated by growth, and the growth of the north market is relatively conservative than that of the south market.

Saudi Aramco announced in September that both propylene and butane rose. Propane was 665 USD / T, an increase of 5 USD / t over the previous month; Butane is 665 USD / T, an increase of 10 USD / T compared with the previous month.

On the whole, the current rebound of international crude oil has brought some support to the market. In September, the traditional peak season has entered, the terminal demand has improved, the downstream mentality is good, the market entry is positive, the manufacturer’s mentality is firm under the low inventory level, and the price has increased. At present, there are many positive factors in the market. It is expected that the propane market will still rise in the short term. Specifically, we still need to pay attention to the changes of international crude oil.

According to the price monitoring of business agency, the current price of domestic PTA continued to weaken significantly today (September 8). The average price of spot market was 4756 yuan / ton, a single day decrease of 2.93%, a year-on-year increase of 32.44%. The main futures 2201 closed at 4768, a decrease of 148, a decrease of 3.01%.

Recently, due to the restart of multiple sets of PTA units, the pressure on the accumulation pattern has increased, and the market mentality has weakened. Today, the short side of futures is strong. Meanwhile, the international oil price fell slightly, the domestic PX inventory was high, and the cost side support was weak. The polyester Market in downstream Jiangsu and Zhejiang is weak, the industry starts to maintain around 84%, and the buying enthusiasm is insufficient. Under the superposition of multiple bad news, the price fell significantly today.

Business analysts believe that the current PTA market is mainly dragged down by supply and demand, lack of market confidence, and short-term prices will maintain a downward trend.