According to the price monitoring of business agency, the domestic PTA market rebounded slightly today (December 30). The average market price in East China was 4937 yuan / ton, up 0.47% from the previous day and 36.23% year-on-year. The main force of PTA futures 2205 closed at 4958 and settled at 4956, up 48 or 0.98%.

On December 29, international crude oil prices rose. The settlement price of the main contract of WTI crude oil futures in the United States was US $76.56/barrel, up US $0.58 or 0.76%, and the settlement price of the main contract of Brent crude oil futures was US $79.21/barrel, up US $0.54 or 0.69%. Oil prices reached the highest closing record in the last five weeks, and the inventory data of the US Energy Information Administration (EIA) were positive, showing that the inventory of US crude oil and refined oil fell last week, overshadowing the concern that the rapid spread of Omicron may reduce demand.

Statistics of recent changes in PTA plants in China

In terms of PTA supply, with the restart of some PTA units, the current start-up of PTA industry has increased to 80%. Recently, Yadong and Ineos will restart, and there are few maintenance plans for PTA unit in January. PTA spot supply side will increase, and there is an expectation of accumulated inventory.

Boosted by the price of raw materials, the quotation of mainstream polyester factories in Jiangsu and Zhejiang increased by 50-100 yuan / ton. However, the terminal demand is still weak. With the approaching of the Spring Festival, the number of terminal orders decreases, some factories have holidays, the comprehensive startup rate of looms in Jiangsu and Zhejiang region drops to around 60%, the follow-up of raw material procurement is insufficient, and the actual trading volume slows down.

Business analysts believe that short-term crude oil is strong and volatile, and PTA cost support still exists. However, the PTA plant is restarted to increase the load, and the supply may increase again. In addition, there is a possibility of early holiday in the downstream, it is difficult to improve the polyester operating rate, the supply and demand of PTA is weak, and it is expected that the probability of continuous upward rise of PTA price is small.