According to the price monitoring of business agency, the domestic PTA market rebounded slightly today (November 1). The average market price was 5124 yuan / ton, up 0.47% from the previous day and 55.96% year-on-year.

Sichuan Energy Investment Co., Ltd. shut down 1 million tons of PTA plant, Hengli petrochemical 3#2.2 million tons of PTA plant planned maintenance, partial PTA plant maintenance or planned maintenance, and suspended the speed of PTA inventory accumulation.

The high volatility of crude oil still supports PTA prices. In view of the tight supply of overseas natural gas and the expected increase in the demand for heating oil in winter, the US WTI crude oil futures closed higher on October 29, with the settlement price of the main contract reported at US $83.57/barrel and the settlement price of the main contract of Brent crude oil futures reported at us $84.38/barrel.

The downstream polyester plant has insufficient support for PTA raw materials, the operating load is not high, maintained near 80%, and the production and sales are flat. In view of the low inventory of finished products and acceptable profits, there is still some room for replenishment in the market, but it is still difficult for the operating rate to return to the previous high due to the impact of terminal demand. In terms of price, the quotation of mainstream polyester factories in Jiangsu and Zhejiang decreased steadily.

Business analysts believe that their own device maintenance boost and cost support still exist, and the adjustment space below PTA price is limited. In the future, we still need to pay attention to the changes on the demand side.