Costs continue to move down, and PTA prices maintain a downward trend

According to the price monitoring of the business agency, the PTA market maintained a downward trend this week (July 18-22). As of July 22, the average price of domestic PTA market was 5810 yuan / ton, down 2.26% from the beginning of the week and up 8.36% year-on-year.

With the increase of two sets of 4.2 million ton PTA units in Yisheng Ningbo and two sets of 6.6 million ton PTA units in Yisheng new material to 90% of the load. Up to now, the operating load of PTA industry is more than 73%. The main suppliers of PTA sell spot goods, and the circulation volume has increased.

U.S. gasoline inventories increased. In addition, at the macro level, the European Central Bank raised interest rates, raising concerns about falling demand. Crude oil volatility weakened. As of July 21, the settlement price of the main contract of WTI crude oil futures in the United States was $96.35 / barrel, and the settlement price of the main contract of lunt crude oil futures was $103.86 / barrel.

Large factories plan to increase production reduction, and polyester load further drops to 76%. Superimposed on the impact of summer high temperature and sporadic epidemic, and the current off-season characteristics are obvious, terminal construction remains low, Jiangsu and Zhejiang looms fall to less than 50%, and the market trading atmosphere is general.

Business analysts believe that the oil price fluctuated and fell, PTA costs continued to move down, the demand side performance was weak, and there is still room for polyester construction to be reduced. At the same time, PTA spot liquidity increased, and PTA prices are expected to enter a downward trend.