PTA: THE MARKET IS WEAK

PTA supply, last week's plant operating rate fell 1 percentage point to 81%. Among them, the load of 4.5 million tons plant of Fuhua industry and trade increased by 10%, the 650000 tons plant of Yisheng Ningbo was restarted, and the overhaul of 2.2 million tons plant of Hengli Petrochemical was delayed. On the cost side, the price of PX is weak. In the early stage, it is expected that the new PTA plant will be put into production to prepare PX new plant, but the actual PTA plant is delayed, which makes the supply of PX loose and the price difference of PX-naphtha drop. PTA spot processing costs up to 600 yuan / ton. Polyester, Xiaoshan plant continues to reduce the load, the overall polyester load dropped to 90%. Shengze looms start under the control of environmental protection, start two stop one. Loom procurement last week, about 1-2 weeks, ready to stock around the Dragon Boat Festival. Terminal orders are relatively low, making the upward space of raw material prices limited.


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