On September 19, the domestic futures market closed, with most of the commodity futures falling, led by energy chemicals, among which PTA fell by more than 3%. PTA spot price fell with each other. According to the price monitoring of the business community, the average price of the domestic PTA spot market was 6579 yuan/ton on September 19, down 2.02% from the previous trading day and up 33.10% year on year.

In terms of devices, with the restart of Sichuan Energy Chemical’s 1 million ton device after a short shutdown, the load of two sets of 3.3 million ton devices of Eason New Materials increased by 80%, and the PTA load increased to more than 70%. However, in general, PTA spot stocks are still relatively small and continue to be de stocked. According to statistics, as of September 15, the domestic PTA social inventory was 2025900 tons.

In the crude oil market, the good news on the supply side and the bad news on the demand side are playing a game. In particular, the geopolitical tension is becoming more serious, and the oil price is subject to more interference factors, which will further aggravate the shock of the oil market. Under the tight supply and demand of PX itself, PTA cost side support is relatively strong.

Due to the gradual easing of the high-temperature weather in the terminal weaving in the near future, the starting load continues to rise, and the comprehensive starting rate of Jiangsu and Zhejiang looms is more than 71%. However, even in the “Golden Nine Silver Ten” inventory level, it is difficult to achieve the level of previous years. Therefore, the demand side of polyester remained flat, which led to the increased pressure on the polyester factory to go out of the warehouse and the difficulty in effectively improving the commencement.

Analysts from the business community believe that although some devices have been restarted or the load has been increased recently, the short-term supply of PTA is difficult to increase significantly, which will still support the price of PTA. However, the sustainability of the downstream demand side warming remains to be further observed.