According to the price monitoring of business agency, the domestic PTA market continued to rise on January 27. The average market price in East China was 5424 yuan / ton, up 1.92% from the previous trading day and 42.57% year-on-year. PTA futures 2205 closed at 5496, up 164, or 3.08%.

In terms of supply, two sets of PTA units with a total of 5.3 million tons in East China announced the maintenance plan at the end of February, including 2 million tons of Yisheng Ningbo and 3.3 million tons / year of Yisheng new materials. In addition, the 3.3 million ton new capacity unit of Yisheng new materials phase II is planned to start commissioning on January 28, increasing supply and accumulating inventory. At present, the operating rate of PTA industry is around 86%.

Crude oil once again set a new high since October 2014. On January 26, the settlement price of the main contract of WTI crude oil futures in the United States was US $87.35/barrel, up US $1.75 or 2.04%, and the settlement price of the main contract of Brent crude oil futures was US $88.74/barrel, up US $1.66 or 1.90%. Brent crude oil contract in March rose above $90 for the first time since 2014. The main reason is that the supply tension is expected to continue to rise and boost oil prices, the tension between Russia and Ukraine is escalating, and the output increase of OPEC of the organization of petroleum exporting countries is lower than expected.

With the Spring Festival approaching, the downstream polyester construction will fall seasonally, and it is difficult for the demand side to boost the market. The terminal textile enterprises have successively shut down for holidays, the procurement of raw materials has obviously weakened, the actual transactions are rare, most factories have been shut down, and the comprehensive starting rate of looms in Jiangsu and Zhejiang has dropped to about 13%. Polyester factory quotation remained stable, and individual specifications rose slightly.

Business analysts believe that crude oil continues to push up PTA, but maintenance at the end of the month coexists with investment in new production capacity, and there is still pressure on the supply side. In addition, due to the impact of the Spring Festival holiday, demand is poor, and PTA prices are expected to continue to rise weakly.