According to the price monitoring of business agency, the domestic PTA market rebounded slightly. As of April 6, the average market price of domestic PTA in East China was 6230 yuan / ton, up 2.85% from the previous trading day and 39.83% year-on-year. PTA futures 2205 closed at 6168, up 140, or 2.32%

A 700000 ton PTA unit in East China is scheduled to be overhauled in the evening of April 6, and a 2.2 million ton PTA unit in Northeast China is scheduled to be overhauled on April 15 (originally scheduled to be overhauled on April 10). At present, the operating rate of PTA industry is around 74%, and there are few circulating spot goods.

On April 5, the international crude oil futures market closed down. The settlement price of the main contract of us WTI crude oil futures was US $101.96/barrel, down US $1.32 or 1.3%; The settlement price of the main contract of Brent crude oil futures was US $106.64/barrel, down US $0.89 or 0.8%. Macroscopically, affected by the Fed’s expectation of raising interest rates, the rise of the US dollar affected the valuation of oil prices. On the demand side, market participants expressed concern about the slowdown in demand caused by public health events, and oil prices were under pressure. But at the same time, the supply side was subject to Western sanctions against Russia, resulting in damage to output, and supply concerns limited the decline in oil prices.

Due to the pressure of inventory and cash flow, some factories in the downstream started to reduce the burden and production, and the operating rate of the industry fell below 88%. Disturbed by the epidemic situation, the demand for terminal weaving is weak, and the orders in the peak textile season are less than expected, resulting in polyester demand, inventory situation is not optimistic, and there are some variables in the production of new polyester production capacity.

Business analysts believe that the current high level of international oil prices has been adjusted, but PTA costs have not been significantly loosened. In addition, mainstream PTA suppliers contracted to reduce supply in April, and the spot is still strong. However, the demand consumer side continues to be depressed, and adverse factors are transmitted upward, resulting in polyester profit loss and reduced operating load. The joint production reduction of polyester factories will be implemented in early April. Polyester operation is expected to decline, and the demand for PTA rigid demand and spare warehouse will be weakened. Therefore, it is expected that PTA price will fall.