National Day small holiday, the domestic PTA futures market is closed, the market discussion atmosphere is light, the price to maintain the pre-festival offer.

The cost side was affected by the strong crude oil, and the price of raw material PX rose sharply, but the fundamentals of PTA did not show a significant improvement, and the market price was slightly volatile, without significant upward movement.

 

Market Overview:

 

During the National Day holiday, the industry is basically in the state of leaving the market on holiday, so the domestic PTA market price has no obvious fluctuation. The Asian CFR price is affected by the domestic holiday, and the price remains at the pre-holiday level, at 430 US dollars/ton.

During the holiday period, PTA and the downstream polyester had a narrow range of fluctuations, but there was no significant improvement in supply and demand, continuing a small accumulation.

Supply side: During the holiday, the overall operation of domestic PTA device is relatively stable. Only Xinjiang Zhongtai entered the shutdown state on October 3rd, and the maintenance is expected to take 1-2 months.

In addition, Zhuhai BP1.25 million tons of equipment resumed operation at the same time, so the market supply fluctuated little. According to Longzhong statistics (20201002-1008), the PTA output was 967,300 tons.

In general, the PTA market in the later period is still expected to maintain the maintenance of the device, but the Xfengming Phase 2 is soon put into production, the market supply is still at a high level, according to Longzhong statistics, the production of PTA in October is about 4.2 million tons.

Demand side: polyester, only two sets of devices to join the maintenance line, the rest of the devices to maintain high load operation.

Among them, the 550,000-ton Wankai device entered into maintenance on October 5, and the 200,000-ton Saisheng device entered into maintenance on October 7.

According to the statistics of Longzhong Information (20201002-1008), the output was 1,0776,900 tons.