According to the price monitoring of business agency, the domestic PTA market rose sharply on March 7. The average market price in East China was 6482 yuan / ton, up 6.31% from the previous day and 39.82% year-on-year. PTA’s main contract rose by the limit. The main contract 2205 closed at 6466 and settled at 6332, up 366 or 6%.

Crude oil once again set a new high since 2008. On March 4, the settlement price of the main contract of WTI crude oil futures in the United States was US $115.68/barrel, up US $8.01 or 7.4%; The settlement price of the main contract of Brent crude oil futures was US $118.11/barrel, up US $7.65 or 7.9%. Western sanctions blocked Russian oil exports, overshadowing the supply benefits brought by Iran’s return to the international market.

From the perspective of supply and demand, the 350000 ton PTA plant of Yizheng Chemical fiber was overhauled for about 20 days on March 1. The load of 3.3 million T / a PTA unit of Yisheng new material decreased to a lower level in the evening of March 2, and it is planned to start to increase the load on March 7. Chuanneng chemical’s PTA plant with an annual output of 1 million tons was shut down for about one week on March 5. At present, the operating rate of PTA industry is around 74%. The downstream polyester market was pushed up by raw materials. The quotation of mainstream factories in Jiangsu and Zhejiang was increased by 100-200 yuan / ton. The rigid demand of terminal weaving factories was properly followed up and procurement was mainly cautious.

Business analysts believe that the current PTA processing fee is low, the maintenance of PTA devices will increase significantly in the future, and the pressure on the supply side will further decline. In addition, as the continuous rise of crude oil price gives great impetus to the market, PTA cost side support remains strong in the short term, driven by this, PTA price will continue to rise.