The decline of crude oil was superimposed on the expectation that the downstream polyester plant would increase production reduction, and the current price of PTA fell. As of August 9, the average price of PTA in the domestic spot market was 5315 yuan / ton, down 0.26% from the previous trading day and up 45.04% year-on-year. PTA futures 2201 closed at 5260, down 46, or 0.87%.

In terms of supply, Fuhai Chuang 4.5 million T / a PTA plant began to heat up on August 4 and discharged on August 6. At present, the operating rate of the industry has rebounded to more than 73%. The 3.3 million T / a PTA unit of Yisheng new material started to restart on August 5, and the material has not been discharged on August 9. In addition, PTA’s main suppliers reduced their supply in August or delayed delivery to September, resulting in a small supply of spot goods in the market, which formed a certain support for the market.

However, crude oil fell. As of August 6, the settlement price of the main contract of WTI crude oil futures in the United States was US $68.28/barrel, down US $0.81 or 1.20%, and the settlement price of Brent crude oil futures was US $70.70/barrel, down US $0.59 or 0.83%. The main reason is that the market is worried about the negative impact of delta mutation virus on economic recovery, and the negative worries on the demand side are aggravated. At the same time, the polyester Market in the downstream Jiangsu and Zhejiang regions has been on the sidelines recently, with weak demand and stable price. Poor production and sales, some polyester factories have the intention to reduce production, and the demand for PTA is expected to decline.

Business analysts believe that the cost and demand side support are weakened, but there are not many PTA circulating spot goods, which may inhibit the price decline. It is expected that the short-term PTA market will mainly decline in a narrow range. In the future, we still need to pay attention to the restart of crude oil and its own devices.