Supported by raw material p-xylene (PX) cost, under the weak softening of production and sales of polyester, and continued sluggish demand for textiles, the price of refined terephthalic acid (PTA) remained in the regional concussion pattern. The price of PTA1305 on the main contract on November 13 revolved around The price of 7500 yuan per ton oscillated up and down, and the empty side weighed heavily.
Although a large amount of new PTA capacity was put into production, due to the compressed profit margins, the load on the PTA plant fell, resulting in a drop in raw material demand, a temporary tightening of the PX supply structure, a weakening cost support role, and a weak terminal textile demand, the PTA outlook will continue weak Shock.
Despite the weak performance of the crude oil market, Asian PX is supported by demand expectations and is showing strong performance. As PTA new production capacity of 6 million tons/year is about to be put into production in the fourth quarter, there will be increased concerns about tight PX supply. In September, China's PX imports amounted to 591,000 tons, a month-on-month increase of 26.57% and a year-on-year increase of 13.25%.
The strong raw materials made the profits of PTA producers squeezed, and the loss in production links expanded from RMB 200-300 per ton to RMB 400-600, and the average operating rate of PTA had dropped to 78%, a year-on-year decrease of 18%. This led to the expected weakening of the tight supply of raw materials, PX may be pulled back in the late period, and the PTA cost support weakened.
In the autumn and winter season after orders, polyester yarn consumption was weak, weaving business procurement is still used with the purchase, Polyester prices fell. The average inventory of polyester factories recovered from October, rising from the previous 15 days to 26 days. The low prices of polyester products, high inventory levels and low production and sales all contributed to the continuation of the textile industry. With the end of the textile industry peak season, downstream demand is difficult to improve.
In the afternoon market, the fundamentals were bearish, PTA market oversupply, raw material support weakened, and the PTA futures price will continue to fluctuate within a narrow range between 7,400 and 7,600 yuan per ton.
Heat Exchanger,Double Tube Plate Heat Exchanger,Plate Heat Exchanger,Tube Plate Heat Exchanger
Wenzhou suote pharmaceutical and chemical engineering CO.,LTD , https://www.wzsuotejixie.com