In terms of plant, Fujian Baihong 2.5 million tons PTA plant is scheduled to start maintenance for 3 weeks on December 1. Shanghai Yadong Petrochemical 700,000 tons PTA plant was overhauled on December 2nd and restarted on December 31st. In addition, ineos (Zhuhai) plans to overhaul 1.1 million tons of PTA plant for 2 weeks at the end of December. The overhaul plan of PTA plant increases, and the current operating rate of the industry drops to below 75%.
International oil prices rose sharply on December 6th. The main U.S. WTI contract settled at $69.49 a barrel, up $3.23, or 4.87 percent, while Brent settled at $73.08, up $3.20, or 4.57 percent. Oil prices rebounded in South Africa after a mild case of Omicron was reported on fears of disruption to oil demand. In addition, the Iranian nuclear negotiations have stalled, reducing the likelihood of Iranian oil returning to the market, crude oil also received some support.
Downstream polyester factory promotion, polyester filament price of mainstream factories in Jiangsu and Zhejiang area reduced 100-300 yuan/ton. Because the south of China did not see a significant drop in temperature, so winter clothing sales as expected, velvet and other thick fabric shipment speed slowed. In addition, there are concerns about whether the epidemic will be repeated in the coming year, and some weaving factories carefully produce inventory. The weaving market is flat as a whole. Some dyeing factories have plans to have a holiday this month. At present, the comprehensive opening probability of jiangsu and Zhejiang looms is around 65%.
Business analysts believe that crude oil shock boosted, increased cost support. In addition, there are many maintenance of PTA devices recently, and the restart time of Honggang Phase II is postponed to January. Short-term supply is gradually tightened, which is good for PTA, but limited by weak demand, so the short-term PTA price will warm up within a narrow range.
source:https://www.tnc.com.cn/info/c-034001-d-3717665.html