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PTA market has been under the downward pressure since November as new PX and PTA capacities are scheduled to start and more polyester plants are to cut output. Based on TA2301 and PX January paper goods, PTA margin has been compressed to very low level. In PTA spot market, the spot liquidity remaine
PTA market seems to be more hit by downstream polyester production cuts than PX. The margins of PX and PTA have been diverged since Apr. As of Apr 22, PX-naphtha spread has widened by 9.3% from Apr 1 to $295/mt, while PTA-0.66*PX spread narrowed by 16% to 413yuan/mt over the same period. As the char
Supply and demand: PTA market will be largely balanced in October, but the pressure of inventory accumulation will gradually increase in November and December.Supply: Energy Investment’s 1 million tons/year and Sinopec Yangzi’s 600,000 tons/year PTA units will restart after the holiday; restart of H
For PTA market in Oct, the anticipation changes from de-stocking to inventory accumulating. Affected by the dual control policy and unexpected unit maintenance, the intensive maintenance plan in Oct comes earlier in Sep. Then, PTA inventory may rise by 200kt in Oct. So the market may be not firm as
