According to the price monitoring of business agency, the domestic PTA market rebounded slightly today (December 13). The average market price in East China was 4712 yuan / ton, up 1.20% from the previous day and 34.68% year-on-year. PTA futures 2205 closed at 4766 and settled at 4716, up 56, or 1.19%.

The market’s concern about the impact of the mutant strain Omicron on the global economy and fuel demand has been alleviated. Superimposed on the control of production by the organization of Petroleum Exporting Countries and its allies (OPEC +), it is unlikely that Iranian oil will return to the international market in the near future, the oil market remains in a tight balance, and the oil price has been supported. On December 10, the international oil price rose. The settlement price of the main contract of WTI crude oil futures in the United States was US $71.67/barrel, up US $0.73 or 1.03%, and the settlement price of Brent crude oil futures was US $75.15/barrel, up US $0.73 or 0.98%.

The polyester Market in Jiangsu and Zhejiang is flat, the price still maintains a downward trend, the overall production and marketing is general, and the operating load is around 80%. Affected by the cold end orders, most warp knitting factories cut down the start-up due to the high unsalable inventory of grey cloth, which generally fell to 30-50%, and some were lower near 20%. And I haven’t heard of the best-selling fabrics in the local area. The grey cloth inventory is still mainly upward, and the grey cloth inventory squeezes the cash flow.

Business analysts believe that PTA plant production reduction and maintenance increased, and the rise of crude oil strengthened the support for PTA cost. However, the weakening of terminal orders has dampened the enthusiasm of loom production, and the demand side only focuses on meeting rigid demand for raw materials. Therefore, in the short term, PTA prices will continue to rise slightly.