Source: Jintou.com
September 13,PTAThe spot market is still negotiable, and some manufacturers just need to replenish the stock. The spot basis is obviously stronger, and the forward basis is slightly stronger.
On the cost side, the PTA processing price difference dropped slightly to 883.59 yuan / ton, the processing difference decreased slightly, and the PTA spot processing fee was at a high level; the PX processing difference slightly rebounded to 445 yuan / ton, the international crude oil price rose, and the cost-side support for PTA was strengthened. , but there is still great uncertainty about the future trend of oil prices.
On the supply side, the PTA operating rate fell again to around 64%. A set of 1 million tons of PTA plant in the southwest was stopped yesterday due to a fault, and the parking time is expected to be 3-4 days. The PX operating rate has dropped again and is currently at a historically low level for the same period.
On the demand side, polyester and terminals have improved marginally due to the expectations of gold, nine and silver, but terminal sentiment is more cautious, and the order delivery cycle is short, mostly at the end of this month, focusing on the bottom-up inventory transfer path and rhythm.
On the whole, downstream demand has improved, and the PTA market is expected to be strong and volatile in the short term.
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