During the National Day holiday, the international crude oil price rose, and the overall strong operation of the chemical sector led to a sharp rise in PTA. According to the price monitoring of business agency, as of October 11, the average price of domestic PTA spot market was 5543 yuan / ton, up 9.35% from October 7 and 66.73% year-on-year. The main futures 2201 closed at 5592, up 218, or 4.06%.

Statistics of recent changes in PTA plants in China

manufacturing enterprise Unit capacity (10000 t / a) Device change

Yisheng new materials three hundred and thirty About 90% of the construction started

Jiaxing petrochemical one hundred and fifty Shutdown on October 9, restart time to be determined

Yangzi Petrochemical sixty-five It was overhauled in the evening of September 22, and excellent products were delivered on October 11

Chuanneng chemistry one hundred Stop on August 30, and it is planned to deliver premium products on October 13

Yisheng Dalian two hundred and twenty-five Short stop on October 8 for 4-5 days

three hundred and seventy-five Short stop on October 8 for 4-5 days

Hengli Dalian two hundred and twenty It is planned to conduct maintenance for 2 weeks in mid October, which may be conducted in advance

two hundred and fifty Maintenance for 2 weeks on October 8, 2021

In terms of units, Jiaxing Petrochemical’s 1.5 million ton unit shut down on October 9; Yisheng Dalian 6 million ton plant was shut down for 4-5 days on October 8; Hengli Dalian 2.5 million ton unit was overhauled for two weeks on October 8, the industrial commencement dropped to near 60%, and there was output compression at the supply end. Next, restart and overhaul coexisted, and the discharge of 650000 ton PTA unit of Yangzi Petrochemical was restarted on October 11; Two sets of yishanhua with a total of 6 million tons are planned to restart around October 12; Chuanneng chemical is expected to produce 1 million tons of high-quality products on October 13.

Crude oil rose sharply, supported by favorable cost side. On October 8, the settlement price of the main contract of WTI crude oil futures in the United States was US $79.35/barrel, an increase of US $1.05 or 1.3%, and the settlement price of Brent crude oil futures was US $82.39/barrel, an increase of US $0.44 or 0.5%. As winter approaches, fuel demand increases, superimposed supply tightening is difficult to ease, and oil prices are still strong and volatile.

Affected by the dual control of energy consumption in Jiangsu and Zhejiang, the operating load of polyester weaving in the downstream further fell to less than 80%, and the supply of goods was tight, mainly consumption inventory. The prices of staple fiber, filament and other products rose sharply, ranging from 7-10% higher than before the national day, and the cash flow recovered to a certain extent.

Business analysts believe that the current high prices of natural gas and coal and strong market expectations for heating demand in winter have boosted the rise of crude oil prices and supported the strong operation of PTA prices. However, we should be vigilant against uncertain factors such as production reduction of polyester and weaving, as well as the restart of our own devices, which may restrict the price of PTA.