According to the price monitoring of the business club, the domestic PTA market rose and fell this week (June 13-17). As of June 17, the domestic market was 7289 yuan / ton, down 3.13% from the beginning of the week and up 49.71% year-on-year.

Cost support was significantly weakened. The Federal Reserve raised interest rates by 75 basis points more than expected. The market was disturbed by macro bad news, and the expectation of demand setback put pressure on oil prices. As of June 16, the settlement price of the main contract of WTI crude oil futures in the United States was US $117.59/barrel, and the settlement price of the main contract of Brent crude oil futures was US $119.81/barrel. At the same time, with the improvement of PX supply, the stage speculation of PX may have ended, and the PX price fell sharply after rising to the high point since 2014.

In addition, the 650000 ton unit of Yizheng Chemical fiber was shut down for a short time this week, and the 2.2 million ton unit of Ningbo Yisheng was shut down for maintenance around June 12. Yisheng Hainan was restarted to 90%, PTA maintenance units were reduced, and the operating rate of the industry was increased to more than 76%.

The terminal weaving load was reduced to about 57%, the factory was not willing to stock up, and the polyester filament inventory was still high. The polyester operating load was stable at around 80%, and PTA social inventory began to accumulate slightly under the condition of weakening demand.

According to the analysts of business agency, under the background of weakening cost drive, light production and sales of downstream polyester plants, weak supply and demand of PTA and low profits, and the superposition of upstream and downstream negative factors, PTA prices are expected to continue to decline.