The scope of dual control has expanded, and the entire industry chain has recovered
The scope of the dual-control power restriction policy has expanded, and the impact on the raw material PTA MEG has further manifested, and the price of the polyester industry chain has rebounded across the board. Terminal texturing, weaving, printing and dyeing and other links still need to restock before the holiday. In the fourth quarter, polyester consumption bottomed out and supply and demand resonated. It is expected that the follow-up market is expected to rise mainly.
PTA: Uncertainty in supply has increased, and polyester factories still have a wave of replenishment demand before the National Day. The dual control has a more direct impact on the start of the TA device. The current processing cost of TA is low, and there is limited room for continued downward movement. At present, in addition to Jiangsu Province, Zhejiang, Henan, Hubei, Fujian, Guangdong, Liaoning and other places have introduced power rationing policies, which have a more direct and extensive impact on TA load. Therefore, supply is expected to follow low levels, buy on dips, and long 11 short 01 .