PTA Supply Side Started To Nearly 70%

Driven by unexpected events and the rise in international crude oil prices, the price of PTA has risen sharply in recent years. But with the partial restart of PTA devices and the weakening of demand for downstream polyester, the PTA market is facing adjustment next week. On the whole, the pattern of medium and long term TA surplus in PTA has not changed fundamentally. PTA will maintain a weak trend of shocks. The market outlook is concerned about PTA factory maintenance and downstream demand changes, and industrial customers can try to buy PX hedge PTA operation. Operational recommendations are mainly short air.

　　 Restart device More started to close to 70%. Demand side, polyester start up to 84%, weaving started at 80%, at present, PTA supply and demand tight state eased, in the micro to inventory stage. At the cost end, PX is equivalent to PTA cost of 5280 yuan (600 processing fee). At present, PTA dynamic processing fee is 500 yuan, PTA is driven by chemical industry in the short term to maintain high and volatile trend, and the middle line operation will continue to maintain more thinking. But we need to pay attention to the rhythm. At present, we wait and see, arbitrage waiting for more than 9 of 1 of the 91 Ping Shui, 1, and pay attention to the later stage of the operation of the PTA. TA1509 breaks down 5380 front-line support, and prices may be the next platform.

At present, crude oil is stable above US $55, which will give greater support to downstream products, but we should pay attention to the fact that the stock of crude oil is still high, and the possibility of a sharp rebound in the short term is less likely. PTA at present many stations. device Overhaul, the operating rate is only about 60%, the power of short-term PTA rise may be derived from this, we need to pay close attention to the start of the device trend. Downstream polyester and Jiangsu and Zhejiang loom In 3 and April, we are experiencing a small peak of construction. Demand is relatively strong now. However, PTA stock is now up to 2 million 500 thousand tons. It takes some time to store the stock, which has curbed the possibility of a continuous rise in PTA.

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Today, we learned that the price of PET staple 1.33*38mm specifications in North China has reached 8500 yuan / ton, and viscose staple fiber is currently selling at 12500 yuan / ton. As raw material prices are developing rapidly, the downstream orders and orders are more cautious. It is understood that a spinning enterprise in Hebei has a very large demand for viscose in the early stage, but now it is affected by the price of raw materials, and it is hesitant to go downstream. The textile enterprises are worried about it. So we decided to slow down the progress of the viscose varieties before finishing the contract, and temporarily stopped buying viscose raw materials to control the risk.

At present, there are more manufacturers of blended yarns in Hebei, Shandong and Henan provinces. The price of polyester raw materials is more concerned about more textile enterprises. Although prices are rising continuously, manufacturers who are producing polyester cotton yarn using a large number of polyester raw materials do not buy in a timely manner, and the downstream reflects the price of polyester cotton yarn less quickly. Many textile enterprises are worried about losing money. On the contrary, cotton prices are relatively stable at present. It is reported that this year's Australian cotton production is reduced by 40%, which is affected by the reduction of cotton production in many areas. The price of cotton yarn is likely to increase in the industry.