PTA Returns To The Short Term And Continues To Fall

< p > with the manufacturer's plan to reduce the operating load, part of the purchase intention of May cargo began to appear.

In this case, the price of para xylene (PX) in Zhou Sanya increased by 2 US dollars / ton, valued at 1203 US dollars / ton FOB Korea and 1226 US dollars / ton CFR Taiwan / Mainland China.

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< p > today, the domestic a href= "//www.sjfzxm.com/news/index_c.asp" > PTA < /a > 1409 contracts opened at a low price, showing a concussion operation within the day, and finally closed at 6418 yuan / ton, compared with the previous trading day, the settlement price dropped 70 yuan / ton, the turnover was 493028 hands, and the position increased 18528 to 517022 hands.

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< p > spot, the PTA internal market in the morning fell slightly, and the offer was within 6450 yuan / ton. The buyer made a counter-offer of 6400 yuan / ton, and negotiated at 6400-6420 yuan / ton; < a href= "//www.sjfzxm.com/news/index_c.asp > > external market < /a > weak, offering very little, the buyer's counter-offer fell to 895 U.S. dollars / ton, and temporarily discussed 900-905 dollars / ton level.

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< p > today, the domestic PTA main force 1409 contract has experienced a slight shock and rebound after experiencing a quick drop in early trading, but the strength is relatively limited, and the upper side is heavily selling.

On the spot side, today's domestic mainstream trading price center continues to move to the vicinity of 6400 yuan / ton, and the purchasing intention of downstream polyester is significantly weaker than that of the previous stage. < a href= "//www.sjfzxm.com/news/index_c.asp" > price < /a > also appears loose.

Therefore, on the operation, it is suggested that an empty ticket can be rejoined.

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< p > related links: < /p >

In the face of difficulties and pressures, PTA enterprises have shown strong determination to reduce production in recent years, and a number of maintenance plans for P have been introduced.

In 3 and April, Yisheng three sets of 5 million sets of total, 1 million 200 thousand tons of Taiwan chemical industry, 2 million 200 thousand tons of Hengli Dalian and 1 million 200 thousand tons of Helen Petrochemical PTA plant have maintenance plans.

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< p > PTA links cut sharply, forcing upstream PX factories to limit production passively.

Due to the reduction in production, domestic PTA enterprises cancelled the contract goods in April, which led to an increase in the stock market of the PX market which tended to be loose.

The PX industry has bid farewell to the era of high profits. As PX fell below 1200 US dollars / ton FOB Korea's important psychological support position, PX enterprises fell into a loss, and the measures to limit production and price protection came out.

India relies on 600 thousand tons of equipment to repair from mid March, and JX plans to reduce production by 20% in 3 and April.

In addition, Qingdao Li Dong, Tenglong aromatics, GS Caltex and Samsung total and other PX enterprises have planned to reduce the operating rate.

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< p > px-pta links cut sharply, making the market stable.

Among them, PX prices narrowed, PTA spot prices rose slightly.

Under this environment, the market mentality of the downstream market has been eased, the price of polyester products has stopped falling, polyester production and sales have risen to the level of rigid demand, and the PTA index has also approached the important pressure level of 6400 yuan / ton.

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< p > although many sets of devices are being planned or planned to reduce production, the author believes that the rebound intensity led by this round of production reduction is limited.

The following new capacity will break the market's upward trend.

In terms of PX installations, Saudi satorp70 10000 tons of equipment will be shipped to India and China in March. PetroChina Pengzhou Petrochemical 600 thousand tons and Jurong aromatics 800 thousand tons will be officially released in April and June respectively.

In terms of PTA installations, the 1 million 500 thousand tons of Xiang Lu petrochemical plant was discharged in late March, and another two lines were being tested, and the Yisheng Ningbo 2 million 250 thousand ton plant was planned for trial run in late April.

The release of new capacity will bring pressure on the cost side and supply side again, and will be hedged against the short-term benefits arising from the current reduction in production, limiting the price rebound.

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