According to the Commodity Market Analysis System of Shengyi Society, the domestic PTA spot market showed a downward trend in July. As of July 16th, the average price of PTA in the East China region was 4735 yuan/ton, a decrease of 6.81% from the beginning of the month.
| Gamma-PGA (gamma polyglutamic acid) |
The international oil price market is fluctuating. As of July 15th, the settlement price of the August WTI crude oil futures contract in the United States was $66.52 per barrel, and the settlement price of the September Brent crude oil futures contract was $68.71 per barrel. Geopolitical and tariff instability, the US sanctions plan against Russia will not be implemented in the short term, coupled with the ongoing OPEC+production increase, it is expected that the center of gravity of crude oil decline will weaken and adjust.
Recently, there has been little change in the PTA plant. Domestic PTA is in the production cycle, and there are relatively few maintenance plans in the second half of the year, resulting in relatively loose supply.
Downstream polyester production and sales are weak, and inventory continues to rise, with inventory rebounding. During the seasonal off-season of demand, the production and sales of polyester filament are under pressure. Manufacturers have repeatedly offered discounts on shipments, but the results have been minimal. Factory inventory continues to grow, and the market continues to be weak. We plan to continue implementing production cuts. Lack of demand for terminal weaving, insufficient orders, and maintenance of essential stock of raw materials.
Business analysts believe that the cost support of crude oil fluctuations is limited, and the PTA industry is expected to expand capacity, coupled with the expectation of polyester production reduction. Under the weak supply-demand situation, PTA will continue to be weak in the short term.
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