Supply-side worry, PTA vulnerability adjustment

According to the price monitoring of business associations, PTA spot market prices in China fell slightly today (September 10), 0.50% lower than the previous trading day and 43.22% lower than the same period last year. PTA main futures shocks adjustment, the end of a small decline. Main futures (2001) closed at 5190 yuan/ton, down 22 yuan/ton, or 0.42% from the previous trading day. At present, PTA plant load is at 96% high, the market is full of liquidity supply, the main buyers are traders and polyester factories.

Yizheng Chemical Fiber 350,000 tons PTA device was restarted on September 10. The device has been repaired since August 1. Huabin Petrochemical PTA plant is scheduled to shut down shortly next week for some reasons, with an annual capacity of 1.4 million tons. Hengli PTA plant announces the maintenance plan, and there are few later maintenance plans. As for the new plant, Sino-Thai Petrochemical Xinjiang’s 1.2 million tons PTA new plant is scheduled to be completed and put into operation on October 30 and commissioned on December 20.

Gamma-PGA (gamma polyglutamic acid)

In the raw material market, Asia’s PXCFR China closed at $785 per ton on September 9, up 5 yuan per ton from the previous trading day. The domestic price of PX is 6 600 yuan per ton. Faced with the pressure of putting new units into operation, Hainan Refinery and Chemical Co., Ltd. plans to put new PX units into commission in late September. Hengyi Brunei 1.5 million tons PX plant will enter the commissioning stage. Downstream polyester start-up load near 90%, terminal weaving just need to purchase, cautious wait-and-see mood does not decrease, Jiangsu and Zhejiang mainstream factories polyester quotation temporarily stable, promotional preferential shipment, polyester POY (150D/48F) market price range in 7700-8050 yuan/ton.

Business analyst Xia Ting believes that PX, PTA new device supply boost expectations, there are some worries on the supply side, the cost support is relatively limited, and downstream demand “Jinjiu” performance is weak, PTA market is expected to be weak adjustment in the short term.