PX market could get impacted

As for PX, though the tight supply continues, trading in the market centers on Oct and Nov goods, and the supply and demand situation could change with upcoming new plants. Dongying Weilian is expected to start its Phase II PX plant in mid-Oct, Shenghong Refining also plans to to start its new 2 million mt/yr PX plant in Oct; and PetroChina Guangdong is poised to start its new plant in Nov. Though PTA capacity would expand at the same time, due to excessive PTA capacity and anemic demand growth, PX supply increase would outpace that of demand. In a conclusion, PX market is under strong situation against weak expectation. With rollover of laycans and expectation of new plants releasing production, PX market could get impacted