According to the price monitoring of SunSirs, the current price of domestic PTA rose slightly on September 23, with the average spot market price at 4966 yuan/ton, a single-day increase of 1.08%, and a year-on-year increase of 45.89%. The main futures market closed at 2201 at 5000 and settled at 4950 , up 134, or 2.75%.
On the supply side, with Hengli Petrochemical 2#2.2 million tons, Yangzi Petrochemical 2#650,000 tons, Baihong Petrochemical The 1.25 million tons PTA unit was overhauled, and Yisheng New Materials reduced the load on the 3.3 million tons PTA unit. At the same time, the supply of supplier Hengli Petrochemical decreased by 30% in October, which provided support for PTA prices. In addition, the raw material side has also received a certain boost. On September 22, international oil prices rose. The settlement price of the main U.S. WTI crude oil futures contract was US$72.23/barrel, an increase of US$1.74 or 2.5%, and the settlement price of the main Brent crude oil futures contract was US$76.19/barrel, an increase of US$1.83/barrel. 2.5%. The U.S. Energy Information Administration (EIA) released positive crude oil inventory data on Wednesday. The data showed that U.S. crude oil inventories fell to the lowest level in three years.
However, downstream polyester and weaving factories have reduced production, and mainstream factories in Jiangsu and Zhejiang focus on promotions, with a discount of 100-300 yuan/no wait. The textile terminal industry was affected by power cuts in weaving enterprises in Jiangsu and Zhejiang and other places, “double reduction and double control” in printing and dyeing plants, and insufficient quality during the “Golden Nine and Silver Ten” periods. The operating load of looms dropped rapidly to 59.24%. In terms of exports, shipping costs continue to rise, transportation turnaround times lengthen, and logistics costs increase, resulting in continued pressure on textile and apparel export orders.
The current crude oil cost support is acceptable, PTA equipment is undergoing more maintenance, and there is no pressure on the supply side for the time being; but on the demand side, the market is cautious and the overall transaction is weak, so it is expected that in the short term PTA prices mainly maintained a narrow increase. </p
