Supply and demand weakened, and the price of main contracts of PTA futures fell by more than 3%

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.