According to the price monitoring of business agency, the domestic PTA market continued to pick up slightly today (November 9). The average price in the spot market was 5031 yuan / ton, up 0.16% from the previous day and 61.31% year-on-year. PTA futures 2201 closed at 5078, up 28, or 0.55%.
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In terms of units, Hengli Dalian 2.2 million tons began maintenance for about 20 days on November 5, Honggang Petrochemical’s 1.5 million tons unit is planned to restart in mid November, Baihong 2.5 million tons unit is planned to start maintenance for three weeks on December 1, and Ineos 1.1 million tons unit is planned to be repaired for two weeks at the end of December. At present, the operating rate of the industry is maintained at more than 79%.
The global economy continues to recover to support energy demand, and the supply performance is insufficient. The international crude oil price still runs at a high level. On November 8, the settlement price of the main contract of WTI crude oil futures in the United States was US $81.93/barrel, and the settlement price of the main contract of Brent crude oil futures was US $83.43/barrel.
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The polyester Market in the downstream Jiangsu and Zhejiang regions is flat, the market wait-and-see mood is obvious, and some factories have procurement actions. There are not many new orders, and the early order production is maintained, and the industrial operating rate is reduced to less than 80%. From the aspects of texturing and weaving, the policy power restriction in Jiangsu and Zhejiang has been relaxed month on month, and the operating rate will moderately rise by more than 65%, but it is still difficult to return to the previous high.
Business analysts believe that although the current wait-and-see atmosphere of downstream factories has increased and the procurement enthusiasm is not high, PTA spot is sufficient. However, boosted by the favorable cost side, the maintenance expectation of PTA device and the impact of weather on northern port logistics, the short-term PTA price will maintain a narrow rise.
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