Weak Upstream And Downstream PTA Continues Downward
According to the price monitoring of business associations, the price of domestic PTA spot market continued to decline in August 5th, down 2.99% from the previous trading day, down 25.53% from the same period last year. The atmosphere of the transaction is general. The focus of buying in the spot market is mainly in the long run, and the enthusiasm for buying is not good. Futures market, close to the main futures (1909) closed at 5158 yuan / ton, compared with the previous trading day fell 140 yuan / ton, or 2.64%. For the import market, the PTA us offer is for reference of US $700-710 / ton, and the supplier of the day tour is quoted at $730-760 / ton.
| Enterprise name | Capacity (10000 tons) | Device dynamics |
| Jialong Petrochemical Company | Sixty | Plan to stop maintenance for 2 weeks in August 2nd. |
| Fuhua chemical industry and trade | Four hundred and fifty | On 1 August, the device was stopped in July 9th. |
| Sinopec Yizheng Chemical Fibre | Thirty-five | Parking inspection and maintenance for 45 days from August 1st. |
| Liwan polyester | Seventy | Stop at the end of July and restart. |
| Chuan can chemical | One hundred | July 26th stops for 2 days. |
| Jiaxing petrochemical | One hundred and fifty | The fault stopped in July 27th and the restart time is to be determined. |
| Hengli petrochemical | Two hundred and twenty | It is planned to overhaul production line 1 in August, and the maintenance time will be about 15 days. |
On the device side, in August, the annual output of 350 thousand tons of Yizheng chemical fiber PTA plant was overhauled for 45 days. Fujian Jialong petrochemical company has an annual output of 600 thousand tons PTA plant for 2 weeks. In addition, last week, the 4 million 500 thousand tons of Fu Hua Industrial and trade equipment was restarted, and the PTA load increased to a high level near 95%. The supply side booster was obvious.
Cost side, domestic PX price trend stability, in August 5th, domestic para xylene ex factory price was 7000 yuan / ton, down 15.66% compared to the same period. Asian PX market prices weakened sharply, closing prices in August 2nd were 810 U.S. dollars / ton CFR China, down 30 U.S. dollars / ton compared with the previous day.
Although the downstream polyester cash flow has been repaired, the weaving industry is still facing greater pressure. The polyester market is stable. The price of some mainstream factories in Jiangsu and Zhejiang has been reduced by 50 yuan / ton, of which polyester POY (150D/48F) is 7800-8000 yuan / ton, polyester FDY (150D/96F) is 7850-8200 yuan / ton, and polyester DTY (150D/48F low bomb) is 9150-9250 yuan / ton.
Xia Ting, a business analyst, thinks that the current PTA processing is poorly compressed and the planned maintenance device has increased. However, the large device is restarting, weakening the repair effect of other devices, and some maintenance plans are still in the process of implementation. In addition, Fuhai set up a 1 million 600 thousand ton PX device has been restarted, Sinochem Hong run new device has also been put into operation, the cost side will continue to move down. The downstream terminal orders are insufficient, and the off-season characteristics will become more obvious. The trend of the upstream and downstream is weak, and the basic short-term weakness is difficult to change. It is expected that PTA will continue to descend.
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