According to the price monitoring of the business agency, the domestic PTA market rebounded slightly on July 25, with the average market price of 5837 yuan / ton, up 0.47% from the previous day and 7.99% year-on-year.
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In terms of supply, the 700000 ton unit of Yadong Petrochemical began to reduce the load by 90% on July 15, and the recovery time is to be determined; A 2million ton PTA plant in Yisheng Ningbo shut down last weekend, and the restart time is to be determined. Another 2.2 million ton device is in normal operation, and a total of 6.6 million ton device of Yisheng new material is in normal operation. At present, more than 73% of the industry is under construction.
Crude oil remained volatile and weak. The EU adjusted its sanctions against Russia, which will allow Russian state-owned companies to ship oil to third countries. The supply tension is expected to ease slightly, and the oil price is under pressure. On July 22, the settlement price of the main contract of WTI crude oil futures in the United States was US $94.70 / barrel; The settlement price of the main contract of lunt crude oil futures was $103.20 / barrel.
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Although the operating load of downstream polyester slightly rebounded to 76%, the overall performance is still relatively weak, which suppresses the PTA price. Now, there are sporadic autumn and winter orders for terminal weaving, but the volume is small, mainly in bulk and small orders, and the enthusiasm for starting work is general. The comprehensive starting rate of Jiangsu and Zhejiang looms remains at a low level below 50%.
Business analysts believe that crude oil shocks downward, but there are signs of tightening on the PX supply side, which is still a positive support for PTA cost support. In addition, some PTA devices are planned to be overhauled, and the supply side is still expected to be tight. However, the weak demand side performance is difficult to improve in a short time. It is expected that PTA prices will pick up slightly in the short term, and the trend will remain weak in the future.
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