[The PTA market once again brok]
Release date:[2023/9/18] Total access[90]Secondary

Since July, the PTA main contract price running range 5550-6206 yuan/ton, PTA prices out of the obvious trend market, from the rhythm of the point of view, in July prices continue to rise, August showed a significant correction trend, after late August, with a sharp rise in prices and PTA factories have reduced production will, PTA prices continue to rise to 6000 yuan/ton above.

On the 12th, the PTA market once again broke through the previous high. At the same time, PTA futures on the same day also appeared a rare market, the volume of turnover, the first increase in the commodity market, the net inflow of funds in the day 3.572 billion yuan. Cost-side support was strong, and crude oil prices rose to their highest for the year on concerns about supply shortages caused by OPEC production cuts. As of September 13, the main contract of WTI crude oil futures in the United States settled at $88.52 / barrel, and the main contract of Brent crude oil futures settled at $91.88 / barrel.

In the PTA market, the price of excipient acetic acid continued to rise, as of September 14, the average price of acetic acid market in East China was 4800 yuan/ton, up 18.03% from the beginning of the month. Boosted by the price of crude oil and acetic acid, as well as the unexpected decline of PTA equipment, the market supply stage is tightened, and the price shock is strong, and the average price of PTA spot market in East China is 6386 yuan/ton, up 3% from the beginning of the month.

According to the latest news released by the China Textile Import and Export Chamber of Commerce recently, in dollar terms, textile and garment exports fell by 10.2% in August, the decline narrowed by 8 percentage points compared with the previous month, of which textile and garment exports fell by 11 and 6 percentage points respectively compared with the previous month, ending the trend of two consecutive months of decline and expansion.

At the same time, the "gold nine silver ten" demand season is coming, which means that the high start of the polyester industry chain is expected to continue this year, there is support for the PTA demand side, and it is estimated that the terminal loom opening probability will rebound. In early September, terminal orders had normal seasonal growth, and the order situation had improved, but the increment was not enough, and some terminal operators were relatively cautious. It is estimated that from September to mid-early October, the terminal loom opening probability may rise to more than 75%, the demand for polyester filament will rise, and the polyester filament or slight inventory will be destocked, which will help the polyester factory maintain a high operating load.

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