According to the price monitoring of business agency, the domestic PTA market rose slightly on April 27, with the average market price of 6240 yuan / ton, up 0.70% from the previous day and 33.88% year-on-year. PTA futures 2209 closed 6124, up 124, or 2.07%.
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The 1.2 million ton PTA unit of Zhongtai Petrochemical began to heat up on April 24 and has not been discharged yet. The 1.2 million ton unit of hailun Petrochemical stopped on April 26, and the restart time is to be determined. The 1 million ton unit of chuanneng chemical stopped on April 13 and is planned to restart around the middle of May. At present, the start-up of the industry has increased to around 73%.
The price of international crude oil futures rose significantly. On April 26, the settlement price of the main contract of WTI crude oil futures in the United States was US $101.70/barrel, up US $3.16 or 3.21%; The settlement price of the main contract of Brent crude oil futures was US $104.99/barrel, up US $2.67 or 2.61%. Investors weighed the impact of the epidemic situation and anti epidemic blockade measures in some Asian countries and regions on the prospects of economic growth and energy demand, as well as the expectation of tightening energy supply caused by the Russian Ukrainian war, and the oil price rebounded.
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The downstream demand was weak, and the product inventory accumulation and loss of polyester factory increased. According to statistics, as of April 22, the inventory of POY, FDY, DTY and staple fiber were 32.3 days, 30.8 days, 36.4 days and 12.8 days respectively, all at a high level in recent years. At the same time, the transportation of raw materials in some factories is difficult, and the polyester load is gradually reduced, from 87% in early April to around 77%.
Business analysts believe that the rebound in crude oil prices pushed up PTA, but the overall operating load of polyester in the downstream was low. Before May Day, the actual demand recovered slowly, and the market continued to follow the cost fluctuation in the short term and rose cautiously.
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